April 20, 2022
To Whom It May Concern,
I am writing today with great dismay regarding the proposed rule change \"SR-NSCC-2022-003\".
As an individual investor, I stand strongly against this proposal.
If I am understanding the document correctly, \"Reducing the potential for market disruption from fire sales\" by \"broadening the scope of central clearing at NSCC to SFTs\" is a cleverly worded way for institutions caught on the wrong side of a short trade to severely limit or even nullify any risk associated with their borrowed securities.
This is absolutely unacceptable and ultimately amounts to an attack on retail investors, aimed at fostering an even greater imbalance in how the market functions and to whose benefit.
What the SEC should naturally be in support of is transparency, efficiency, and a level playing field for all market participants. This abstruse rule proposal appears to constitute the antithesis to such things.
Please vote NO and do not allow this, or any other rule like it, to pass.
Sincerely,
A Concerned Investor