Subject: File No. SR-NSCC-2022-801
From: James Fox

April 20, 2022

To whom it may concern:

I am a retail investor. It is unacceptable to replace FTD's with more FTD's and let obligations go on forever. This rule just replaces a complex system with even more complexity. Why not just settle the FTD? Unless whomever sold it doesn't want to because it actually costs them money to gamble. Retail investors all over the world is watching and we will not let it happen again

Sincerely,

James Fox, a retail investor