Aug. 20, 2023
This letter is in support of the proposed rule amendments regarding transparency and reporting of security-based swaps outlined in S7-32-10. Bringing new tools and requirements for the reporting of swaps is inherently in the best interest of market participants. A clearer picture of these complex financial instruments allows for greater parity among buyers and sellers when attempting to make financial decisions about securities that are contained within these contracts. Additionally these rules should provide better tools for the SEC to have greater insight into the overall stability and fairness within our markets. Archegos provides a rather stark example of the moral hazard that can occur when proper reporting and regulation are not present for swaps contracts. Given the shear scale of damage that these financial instruments can cause in the event of a failure should be reason enough for bringing about the required changes to mitigate the risks inherent with their existence. Please vote in the affirmative for adopting the provisions in S7-32-10