Jan. 13, 2023
January 13, 2023
The proposed changes to Rule 605 of Regulation NMS are long overdue and absolutely necessary in today's fast-paced trading environment. It is imperative that retail brokers are held to the same standard of execution quality as other market centers and broker-dealers. The proposed amendments, which include expanding the scope of entities subject to Rule 605, amending the definition of covered order, and requiring new statistical measures of execution quality, will provide much-needed transparency and accountability in the industry. I firmly believe that the implementation of these changes is crucial in promoting fairness and competition in the market, and I strongly demand that they be implemented without delay. The public has a right to know how their orders are being executed, and it is time for broker-dealers to be held to the same standard of execution quality as other market centers. It is time to put an end to the lack of transparency and lack of accountability in the industry.
So, the proposed changes should be implemented as soon as possible.