April 20, 2022
The intent of the DTCC to manage a market where everything is sold, money is paid, but nothing is ever delivered, is at exact odds with a free a fair marketplace philosophy.
To go further, and design a system where additional financial instruments are put into place, explicitly with the intent to produce profit off the backs of individual people, is to make the already complex system unnecessarily more complex.
Technology exists, such as Blockchain and others, where delivery of equities can take place fully transparently, immediately (T+0), and completely.
Suggesting that liquidity is the reason for this proposal is an attempt to avoid basic supply and demand.
The idea that additional complexity is needed to facilitate what should be a simple market is a crime in itself. Do not permit these rules to be implemented. Instead, institute rules to facilitate true delivery.
Thank you.