April 20, 2022
This rule is against retail interests. Failures to deliver need to be DELIVERED. Not grandfathered in, not passed around, not \"settled\" by borrowing the stock again. They need to be settled using the real, existing, not borrowed stock. This is the only way for real, transparent markets. This rule simply tries to swipe all the FTDs under a rug, which is not sustainable, not fair to retail or general markets and not the way the real \"free\" markets should or could operate.