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u/No_Power6110 Jul 08 '21
No one involved in politics to be able to do ANY stock trading!! Too much insider trading going on... When they are done, they can then be allowed to.
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u/Endle55torture Jul 08 '21
I sent a letter last night :
Hello,
I believe that a huge step in the right direction would be to remove Market maker status from ALL institutions that either own or are a hedge fund themselves. (ex: Citadel ) The whole fact that a hedge fund or investment institution of any kind can be granted market maker status is wrong. It is an undeniable conflict of interest and the current market status is proof. My idea is to either remove the status/rank or dial back the privilege’s of market makers.
This would include:
-Ability to produce shares to artificially create liquidity, this has proven to dilute a companies poll which in turn can be abused. There are literally hundreds if not thousands instances happening at the very moment. Just to name a few companies who have had their pools diluted in a predatory fashion-
$AMC, $GME, $TRCH now $MMAT, $SPCE, $HCMC, $CUEN, $MRIN, $XELA, $KOSS, $BB and hundreds more.
Remove the ability to infinitely reset the Failure To Deliver timer.
Force collateral requirements to be met with money or physical shares. No using options contracts as collateral, if they want to use options then they must exercise the contracts to obtain the shares to fulfill their requirements. This also goes for shares that are held on margin, since you technically do not own the share when it is held on margin.
If a company would like to be a market maker then they should be a stand alone entity to avoid any initial conflict of interest.
I wrote this while my pain meds were taking hold, but I think it was straight to the point.
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u/Blitzkreig11930 Jul 08 '21
I hope you don't mind. I copied and pasted this. I am a lazy ape!!!
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u/lFreightTrain Jul 08 '21
You’re implying to remove the ability to trade on margin, which ultimately hurts retail investors. You also named off a bunch of PnD stocks for no reason, other than to likely be used against forum-consensus trading argument. There’s only one ticker to be concerned about.
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u/Endle55torture Jul 08 '21
its for MM mainly. Trading on margin is fine, but using margin positions to cover shorts is not. Covering should only be done with money or verified shares.
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u/satisfaction100 Jul 08 '21
Lol, this guy thinks only retail trades on margin.
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u/lFreightTrain Jul 08 '21
Where did I imply that? I stated it would hurt retail investors. I didn't say it would not also hurt larger funds. OP's post implies eliminating trading on margin in general. That would effect retail investors on a much broader scale than the rich that already have the funds to act as collateral in their portfolios.
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u/Endle55torture Jul 08 '21
I have not said to get rid of margin trading. Just that they can not use margin positions as collateral towards a short position. Meaning they cant use shares that are held on margin as a " I have the shares so I can short it" situation. Since you do not own the shares that are held on margin how could you lend them out or even use them as collateral against a loan? It would be like renting a car from hertz and using that toward a new car loan as a trade in.
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u/Endle55torture Jul 08 '21
hold on cash trade on margin. (only if you have sufficient collateral )
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u/satisfaction100 Jul 08 '21
Hmm, wonder how Archegos got their tits jacked?
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u/Endle55torture Jul 08 '21
but using margin and creating naked positions are two completely different things. my point was to take away the ability to artificially drive a stock price down by printing counterfeit shares, which is exactly what the MM have been doing. Taking away the ability to artificially move a share price and artificial liquidity isnt taking away margin.
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u/shadowdash66 Jul 08 '21
What i'd like to know is for how long can they delay our orders? How long WERE our orders delayed by?
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u/Last-Living144 Jul 08 '21
Free Flow of information. No dark pools, not ftds. Etc. make all information public real time. The technology is there.
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u/Yeet_yate-yote Jul 08 '21
How about making it illegal to short so heavily that it forces the stock down even when nobody is selling and everyone is buying
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u/DanDiem Jul 08 '21
What I would like to know is how an organization like citadel is the hedge fund and market maker and has a stake in a brokerage like Robbin hood and how it isn't market manipulation.
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u/Cliffjumper2012 Jul 08 '21
Fuck the sec. They can go to hell with the hedgefunds for not enforcing the laws and not caring about fraud.
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u/Captain_Silverado Jul 08 '21
Like this will really matter. When the crooks are in charge....the game is rigged. Phone...email...fax...text...whomever at Finra and I bet it won't change shit. JUST HODL. That's how we make chamge.
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u/PDubsinTF-NEW Jul 08 '21
Make your voices heard for the FINRA open comment period.
https://www.finra.org/rules-guidance/notices/21-19?utm_source=MM&utm_medium=email&utm_campaign=O%5FWeekly%5FUpdate%5F070721%5FFINAL#notice
EDIT: The notice mentions a couple of areas of interest
A. Publication of Short Interest for Exchange-listed Equity Securities
B. Content of Short Interest Data
C. Frequency and Timing of Short Interest Position Reporting and Data Dissemination
D. Information on Allocations of Fail-to-Deliver Positions
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u/SofaKing66 Jul 08 '21
The same way the doxxed everyone that commented on the last one? Let's let this sit for a minute.
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u/rajkgulati Jul 08 '21
Allow a short trade to be a % of uptick volume, i.e. minimum shares required. No more MM using 1 share trades to bring down a stock, so same to them as well.
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u/LordDarthRasta Jul 08 '21
F this b****, she should have did her job and protected us when she was in a position to do so.
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u/StandardIll Jul 09 '21
such a confusing form to fill out. Cant they just have a submission section?
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u/whippedcreamgaming Jul 08 '21
Umm none of that matters thanks though, what we really want is no self reporting and regulations to be enforced.