Apr. 20, 2022
To whom it may concern, I am very disappointed that NSCC is trying to slip this through again through WallStreet-Speak in the proposed rule. Addition of new clearing for SFTs will add unnecessary layer to NSCC's operation when it is already built on intransparency, and could allow FTDs on SFTs by using the same netting system. NSCC is already allowing FTDs on securities, which not only is stealing investor's money when they do not get real shares by settlement time, but also devaluing Treasury bond, which in turns result in Treasury bills devaluing. Why is SEC always blinded sighted by this obvious problem and does not do anything to fix the root of it while allowing NSCC and other SROs to add more layers of intransparency where it hurts overall economy and SEC's reputation? Please, I urge you to please reconsider this rule proposal as only thing it helps is NSCC, while SEC allowing NSCC to exploit the majority. Please have some integrity. Please understand your position and responsibility has cascading effects affecting the entire world. Thanks, Concerned investor, Beom Koh