Why still, is there any reason for trades to be not reportable? Secrecy within trading needs to stop. There needs to be more transparency from all parties involved. “...considering including in FINRA-disseminated short interest data, where available the TSO and public float for securities?” What do you mean “where available”? You are the Financial Regulatory Authority, you should make that statement more definite or you will continue to lose trust and credibility. Do your job. “FINRA believes disseminating a security’s TSO and public float would provide investors with contextual information regarding the relative size of the aggregate short position in the security.” So we are in the 21st century and have made many technological advancements that can do better than providing a “relative size of aggregate short position”. Where are the tech/info updates for the financial system of our country? ... My stance on short selling is simple, if there are no available shares to sell, tough cookies, try again later when supply is back. Integrating short positions into the financial structure is proving to worsen the integrity of our economy. Simply let it go. Stop short sales. There are larger fish to fry. I understand that growth can add complexity, but this system has only been added to since its inception, during an age of Industrial Revolution. Now that we are in an Informational Revolution I am more than confident in discovering a shift from this old system of trading toward a 21st century style. One that abolishes synthetic shares, as well the need for so many institutions that lack trust. Additional comments: Since electronically transferred funds made it easier for stock to be traded, I understand that speed is the root cause to all issues within our system of trading. Ultimately, our system of trading needs to be updated and to remain up to date with the fastest technology so to keep up with order flow.
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Frank Comment On Regulatory Notice 21-19
Why still, is there any reason for trades to be not reportable? Secrecy within trading needs to stop. There needs to be more transparency from all parties involved. “...considering including in FINRA-disseminated short interest data, where available the TSO and public float for securities?” What do you mean “where available”? You are the Financial Regulatory Authority, you should make that statement more definite or you will continue to lose trust and credibility. Do your job. “FINRA believes disseminating a security’s TSO and public float would provide investors with contextual information regarding the relative size of the aggregate short position in the security.” So we are in the 21st century and have made many technological advancements that can do better than providing a “relative size of aggregate short position”. Where are the tech/info updates for the financial system of our country? ... My stance on short selling is simple, if there are no available shares to sell, tough cookies, try again later when supply is back. Integrating short positions into the financial structure is proving to worsen the integrity of our economy. Simply let it go. Stop short sales. There are larger fish to fry. I understand that growth can add complexity, but this system has only been added to since its inception, during an age of Industrial Revolution. Now that we are in an Informational Revolution I am more than confident in discovering a shift from this old system of trading toward a 21st century style. One that abolishes synthetic shares, as well the need for so many institutions that lack trust. Additional comments: Since electronically transferred funds made it easier for stock to be traded, I understand that speed is the root cause to all issues within our system of trading. Ultimately, our system of trading needs to be updated and to remain up to date with the fastest technology so to keep up with order flow.