Apr. 20, 2022
Hello, I am a retail trader. When I read the proposed rule (SR-NSCC-2022-003) I was enraged. The entire concept of introducing SFTs as a mechanism for extending position closure is offensive to the concept of a fair market. It allows those who made bad bets to forestall the consequences of their losses (possibly indefinitely) and robs those on the opposite end of the associated gains. Extending closure by shuffling positions around is a valueless charade unbecoming of a market that even makes vague gestures towards just pretending to be open, transparent, and fair to participants of all sizes. Respectfully but with great frustration, Adam Dolan