Apr. 19, 2023
Dear SEC, I am writing to express my strong support for the proposed amendments to Rule 3b-16 under the Securities Exchange Act of 1934, which would increase transparency and fairness in the operation of alternative trading systems (ATS) and dark pools. As a household investor, I am particularly concerned about the impact of these systems on price discovery and market fairness. I believe that all market participants should have access to the same information and opportunities for trading, and that the current lack of transparency in ATS and dark pool operations creates an unfair advantage for certain participants. I appreciate the Commission's efforts to address this issue through the proposed amendments, including requirements for increased disclosure of order routing practices and the proposed amendments to Form ATS-N for NMS Stock ATSs. These changes will help to ensure that investors have access to the information they need to make informed decisions about their trades, and that market fairness is preserved. I also support the proposed amendments to the fair access rule for ATSs, which will help to ensure that all investors have access to trading venues on an equal basis. The proposed amendments to regulations regarding systems compliance and integrity are also welcome, as they will help to ensure that ATSs that meet certain volume thresholds are held to high standards of compliance and operational integrity. In summary, I believe that the proposed amendments to Rule 3b-16 and related regulations will help to increase transparency and fairness in the operation of ATS and dark pool systems, and I strongly support these changes. Thank you for the opportunity to comment on this important proposal. Sincerely, AM