Apr. 20, 2022
Dear Sir/Madam, As a retail investor I'm deeply concerned by this proposed rule. At the beginning of page 4 it says: "NSCC understands that SFTs provide liquidity to markets and facilitates the ability of market participants to make delivery on short-sales, and thereby avoid failures to deliver, naked shorts, and similar situations." So basically, market participants want to avoid FTDs & margin calls, so they need more liquidity so that participants don't have to commit crime by naked short selling? US markets are only as successful as our confidence in it. Price discovery should not be sacrificed at the altar of liquidity. Please reject this proposal. Sincerely, Edward Phelps