Aug. 12, 2023
I support the passage of rule S7-32-10. I am an individual retail investor whose eyes have been opened over the past 3 years to the inner-workings of the US markets. Not only are they too fast for any retail investor like myself to possibly be competitive, they are to opaque to comprehend. I believe in fair and free markets for all, and a step to that truly free market is transparency of data. The hiding of massive swap positions not only puts institutions at risk for they may not know what assets are contained in said swaps, it also creates a systemic risk if these positions start to unexpectedly loose or gain value. This scenario can lead to disasters such as Archegos capital that imploded due to concentrated and hidden swap positions. I also encourage more aggressive punishments for firms and institutions breaking reporting rules. If they can continue to falsely or inaccurately report and pay a fine without admitting to wrongdoing it is not a deterrent, it is legal for a price.