September 20, 2009
I strongly support the SEC's proposed ban on flash orders. The fact that flash orders are even permitted is astonishing to me personally, and has struck me as an organized way to "game" small investors. I see no reason why it should be permitted, and frankly see it as a violation of trust as an individual investor, effectively sharing insider information with outside parties for their personal benefit.
Our securities markets have already had their reputations badly tarnished in the last two years. Continuing this practice will make foreign investors even less likely to invest in the American stock market. I for one have lost much of my faith in our trading system - Since America only represents about 22% of the world's collective GDP, 78% of my new investments have been going overseas. I would prefer that number not become 100%.
I strongly urge the SEC to abolish this practice now and applaud the Commission for moving ahead with this regulatory action. Thank you for the opportunity to submit this public comment