Subject: File No. SR-NSCC-2021-801
From: Michael K

April 9, 2021

This rule significantly reduces systemic risk and unnecessary risky leverage in the financial systems which require orderly operations. No entity acting in good conduct would reject a proposal of increasing transparency. Normal investors, aka retail investors, are held to a much higher bar than the largest market participants and these market participants use their advantages to erode capital from fair playing participants. This system is broken and these rules are a step in the right direction.