Apr. 20, 2022
Hello, The following comment is in regards to the proposal in File Number SR-NSCC-2022-003: The market already allows large market participants to operate with a lack of transparency and accountability that harms the economy & individual investors. I am disappointed that this rule is being proposed again, as it would create another mechanism for institutions to control price action, and pass their exposure/risk to other parties. This rule would increase avoidance of true market price discovery through onward lending. It also removes the infinite risk of naked shorting entirely, and in so doing the deterrent of engaging in what is supposed to be very risky business practice. It is very frustrating to see rules like this being proposed that only favor those who engage in questionable shorting/trading strategies. True price discovery is the fundamental principle that the market is built on, and this proposal would only serve to erode that essential function. Thank you, -Brian Enright