Subject: File No. S7-32-10
From: Jack Rawlings

February 20, 2022

Organizations should have to disclose all of their positions as they have a much larger influence over a given market. More transparency is needed in the front and back ends of institutions as evidence shows that positions do not need to be disclosed if they have been subject to a swap. Dark pools have been largely used as of recent, this could affect true price discovery and any retail buying/selling pressure.