This used to be NSCC-2021-010 that would implement the SFT Clearing Service. It got delayed 9 months and was then removed and resubmitted as NSCC-2022-003. This is the one i was waiting for to pass to tell us they were close to being ready to let the MOASS happen. It would limit or prevent the rest of the market from tanking when the hedge funds started defaulting because it would let them use the NSCC as a go between for loans from other members. If they defaulted the other party would not have to worry they won’t get their money and the NSCC would be able to sell off the loaned securities in a controlled manner to keep the stock from crashing. If it was just a loan between the shorter and the loaner the shorter would dump everything at once and fuck the market. There is no listed date for when it will go into effect so it’s possible it will go into effect right away but don’t be surprised if it’s in a month or so instead.
Here is a link: https://www.sec.gov/rules/sro/nscc/2022/34-95011.pdf
STAY STRONG APES! UNITED WE GET RICH DIVIDED WE FALL!