Remarks by Chairman and CEO Rick Ketchum at the Security Traders Association Annual Conference
Continuing Education Planning
Eliminate dark pools Fines should be greater than the profit hedge made from the illegal activity Jail time is needed for market manipulation. Short positions should be forcibly closed out if illegal market manipulation is found and trading rights of those involved should be revoked. Shorting taking place in the dark pool needs to be disclosed to the public. If an institution buys shares in the
There are five major suggestions I have: 1. All short interest data be updated daily; 2. No longer allowing the synthetic long loophole to short; 3. No longer allowing shorting in dark pools so the activity can be fully traceable; 4. If a firm FTD, for any reason, they are prohibited from shorting until they cover; and 5. Using blockchain to track every short order executed to ensure a complete
Aloha, The fact that short sale reporting is self reported is incomprehensible. The current standard for short sale reporting has allowed and incentivized certain institutions to conduct illegal activity with short and distort schemes. With the technology we have today the standard for short interest and short sale reporting must be updated. Short interest position and short sale reporting need
Financial Industry Regulatory Authority, Inc. ("FINRA") (f/k/a National Association of Securities Dealers, Inc. ("NASD")) is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to amend FINRA's NYSE Rules 421 (Periodic Reports), 440F (Public Short Sale Transactions Effected on the Exchange) and 440G (
Hi Some considerations Shorting should only be allowed if the Stock has been pre-located , will an audit trail and consent of loan from Holder , not just custodian . If Shares are electronic they should should have a marker that will only allow them to be Loaned / Shorted against max 1 times. other wise if marker reflects share is already oan it wont be eligible. This makes a good motivation to
I would like to comment on two particular components of 21-19. -"It is possible that the public dissemination of more granular data could discourage short-selling activity, which is an important mechanism for both efficient pricing and for liquidity provision. We also request comment on potential negative outcomes of making this information publicly available on an aggregated basis." -
Anyone who has looked at the derivates market for $AMC and $GME knows that short interest is being aritfically brought down by the use of these options strategies. If the short interest was really as low as being reported by FINRA and others, we would not have outrageous borrow rates and a continuing avalanche of FTD's. When will we have transparency in our financial markets? "Synthetic
I would like to see the following changes: Require that firms include synthetic short positions On the FINRA website- Make available short interest data for all equity securities (listed and unlisted). Short interest and short sale volume to be disclosed at a daily frequency Require firms to report short interest positions at the account level Require a report of daily allocations of fail-to-
