February 25, 2022
I believe this rule is a step in the right direction for protecting retail investors and should be passed. However, I also believe it is only part of solution to the ongoing manipulation of our markets and travesty of how the market is allowed to function. There are failures to deliver not being adequately investigated and short interest in the 1000s of percent. Market makers are allowed to be paid for order flow, trade in the dark pools, and bet against the exact orders they are filling. How is this not a recipe for disaster? The SEC chairman said it himself, a majority of orders are not hitting the lit market. Price discovery is being hidden through the use of dark pools. It is time to make large changes that protect retail investors and allow for true price discovery, instead of allowing institutions to manipulate markets by saying its for the sake of liquidity.