Comment Text:
Subject: Comment on 90 FR 19686 – Daily Trade & Supporting Data Reform
To the Commission:
Opaque derivatives aren’t just hidden, they’re weaponized. Daily data reports are currently insufficient to capture swap‑based synthetic positions, which hedge funds leverage to obfuscate stock prices.
Relying on daily snapshots masks intraday layering of TRS, off‑SEF options, and dark‑pool routing. Cases like Archegos (Credit Suisse/UBS) prove this leads to market-wide risk and catastrophic collapses without warning or accountability.
Direct the CFTC to:
– Require daily breakdown of equity‑linked swap activity by underlying asset,
– Include intraday refreshes to capture real‑time abuse,
– Publish and centralize the data for public analysis.
Any delay or gap leaves retail investors exposed to manipulation and deception. This commission has a duty to protect this most vulnerable class of investor.
Respectfully,
Michal Mike Trelski, Retail Investor
