Apr. 20, 2022
Hello, I am a retail investor and I am not positive towards this new rule that favor Institutions and Short Sellers. 2008 showed that the retail investor is obviously not front and center. The system is overly intricate and intentional obscured through complexity. This has led to the system being incredibly fragile. The system needs to be SIMPLER and built for BOTH retail investors and institutions. This rule change ONLY benefits large institutions and has the potential to seriously HURT RETAIL. DO NOT PASS THIS PROPOSED CHANGE. There is no reasons that FTDs should still be happening and my concern is that this would create loopholes for institutions to avoid closing out positions and delay or avoid delivery all together. RULES LIKE THIS IS WHY RETAIL IS LOSING FAITH IN THE SYSTEM. I read about other retail investors every day and I can tell you that retail sentiment is continously distrusting of the system and losing faith in our institutions as they see the system is not working for them. More and more interest is popping up in crypto, DeFi, and web 3.0 blockchain systems. Money that historically gone into the the market is now going elsewhere. This is a trend that is gaining exponential speed. SR-NSCC-2022-003 and this use of SFTs is another layer of unneeded complexity that makes the markets LESS TRANSPARENT. Retail will fight against this. #WeTheInvestors want simplicity. We are organizing online and there's new competition building in blockchain organizations and Web 3.0 against this current system. Passing this rule would be another nail in the coffin of this old financial system only built for institutional investors and the elite. It would create further distrust at the retail level. It will push adoption of alternate systems being built right now. Simplify the system. Don't pass these complex rule changes that only benefit institutions. It is so discusting and frustrating that a privately held and self regulating company like NSCC keep helping Hedgfonds through new rules in hiding their FTDs from the public eye. Stop this rule now abd stop helping to kick the can on FTDs... Regards, Non-US stock holder.