July 25, 2023
The fact that you have to make a rule based around a reporting requirements to prevent frauD in a free and fair market shows, while they are free to trade in the are most certainly not fair Reporting shall be done on any transaction that directly effects a security and the values held therein. As an individual investor how can I possibly make and informed logical assessment of a security transaction on my behalf when I do not have access to pertinent information that directly effects the value of a security. The fact that the proposal for swap reporting is based around the idea to prevent fraud and manipulation shows, what we retail investors already know and I am sure the SEC does as well that fraud is already rampant in the swaps markets. While I strongly support the proposal s7-32-10 it is not enough. Just preventing is not enough action needs to be taken on crimes that have already been committed in the swaps markets. The problem being there is no way to combat or report on traders acting on bad faith , if it is not REPORTED to begin with. The fact that large institutions are allowed to trade in markets that effect the value of any underlying without reporting it is antithetical to free and fair markets and the mission statement of the SEC. Its MANIPUTAION IN PLAIN SITE
PASS THE RULE MAKE ANY SWAP EFFECTING AN UNDERLYING REPORTABLE SO INDIVIDUAL INVESTORS CAN MAKE INFORMED DECISIONS IN YOUR SO CALLED FREE AND FAIR MARKETS