April 20, 2022
Securities Financial Transactions appear to be no more than a way to prevent fair-market-value trades from occurring. This vehicle protects short sellers from their gambles by reducing the market buy-in for the securities they owe. How does this stop abusive short selling or promote true price discovery.
Additionally, I fail to see how 100 shares of company X are equivalent to company Y when there are factors such as growth potential, leadership, and market cap. $100 of Apple are not equivalent to $100 of Bed Bath and Beyond.
As a retail trader I DO NOT APPROVE of SFTs and the proposed rule change. This only alleviates Fail To Delivers but without actually eliminating them. This rule seems to only protect the ILLEGAL practice of naked short selling.
For the well-being of America's \"free and fair markets\" I urge you to withdraw this proposal.