Apr. 20, 2022
Dear SEC, How does the introduction of the above rule change benefit price discovery for securities in a free, and fair market? I do not believe it does. As an investor I fail to see how forming another security type as suggested in the rule will benefit my investment in your market, if there is a Failure to Deliver for that security? There should be no back door to settlement and the security promised should be purchased at a market rate, that is how price discovery works. If someone is over leveraged, then they should learn from their mistakes and pay the price. There is no back door to settlement of my credit card bill, why should financial institutions benefit when individual investors cannot? Yours sincerely, Jonathan Stroud Sent from my iPhone