Subject: File No. S7-10-21
From: David Schmitt
Affiliation: real estate developer

September 25, 2021

1. Do you have one or more online trading or investment accounts?
Yes, I have one or more accounts that I access online using a computer.

2. If your response to Question 1 is Yes, do you think you would trade or invest if you could not do so online using a computer or using a mobile app?
No

3. On average, how often do you access your online account?
Daily/more than once a day

4. On average, how often are trades made in your online account, whether by you or someone else?
Once to a few times a week.

5. If you access your account online, did you have the account first, and only began to access it electronically later? Or did you open the account with the idea that you would access it electronically immediately?
I had a pre-existing account and downloaded an app or visited a website to access my account

6. My goals for trading or investing in my online account are (check all that apply):
Save and grow my money for short-term goals (in the next year or two)
Save and grow my money for medium- to long-term goals

7. What would you like us to know about your experience with the features of your online trading or investment platform? (Examples of features are: social networking tools games, streaks, or contests with prizes points, badges, and leaderboards notifications celebrations for trading visual cues, like changing colors ideas presented at order placement or other curated lists or features subscription and membership tiers or chatbots.)
I abhorr such bells'n'whistles type of gimmicks and actively avoid them. What draws me to an app/brokerage is high level charts with good customizability (Binance for example), as well as good customer care (Fidelity for example).

8. If you were trading or investing prior to using an online account, how have your investing and trading behaviors changed since you started using your online account? (For example, the amount of money you have invested, your interest in learning about investing and saving for retirement, the amount of time you have spent trading, your knowledge of financial products, the number of trades you have made, the amount of money you have made in trading, your knowledge of the markets, the number of different types of financial products you have traded, or your use of margin.)
I have been using online banking to trade for decades now.

9. How much experience do you have trading or investing in the following products (None, 12 months, 1-2 years, 2-5 years, 5+ years):
Stocks : 5+ Years
Bonds :
Options : 1-2 Years
Mutual Funds : None
ETFs : 1-2 Years
Futures : 2-5 Years
Cryptocurrencies : 5+ Years
Commodities : 5+ Years
ClosedEnd Funds : None
Money Market Funds : None
Variable Insurance Products : None
Business Development Companies : None
Unit Investment Trusts : None

10. What is your understanding, if any, of the circumstances under which trading or investing in your account can be suspended or restricted?
Extensive.

11. What else would you like us to know positive or negative - about your experience with online trading and investing?
Trading in the US markets appears to be kind of a sham to begin with, when certain players can simply ignore liquidity requirements there is no possibility of any meaningful price discovery.