Aug. 13, 2023
I support this proposal. Public reporting is quintessential to a functioning market where the underlying reasoning of said market is to move capital from the public to the companies they choose. The held securities have to be reported thus it does not make sense that swap positions do not need to be reported. Also, why is there still legacy swap reporting being withheld past September 2025 and the CFTC is complicit? Data should not be aggregated, less reporting on swap positions is not beneficial and most all of the public commenting against this proposal are attempts to subversive the systems and sets of beliefs in place; whether it be against congress or SEC enforcements of government action, against the general or personal intentions to use the market to move capital into companies that they wish to flourish, or even against federal pension programs established to recruit key members to serve the public. These comments against the proposal are a public display of tantrums and lunacy at its finest and I can argue having no merit to stand upon other than fear of public display of collusion and fraud in broad daylight. Much information is starting to come out from the Archegos lawsuit filings and I find that had this rule been in place and the position had been reported in a timely manner, the situation would have not gotten out of hand nor will future issues if you do immediately enact this proposal. As to the effects on volatility and liquidity, market participants should not place the burden of risk management on regulators or regulations. They need to be accounting for the risk themselves and it is not the responsibility or causation of investors choosing which company they want to invest upon. Maybe household investors do not want to invest in a company that is naked shorted ten times over and is on the cusp of bankruptcy, but without visibility into the swap positions they will never be able to choose for themselves. On the flipside, maybe household investors do not want to short a company that is naked shorted ten times over and is on the cusp of bankruptcy as they would be holding the bags during a short squeeze. As you can see there are always two sides to a coin and reporting does matter! Sincerely, J A