Feb. 24, 2023
February 24, 2023 I support this rule that would enhance household investors by expanding the scope of reporting entities subject to the rule that requires market centers to make available to the public monthly execution quality reports to encompass broker-dealers with a larger number of customers. Also by modifying the definition of covered order to include certain orders submitted outside of regular trading hours and certain orders submitted with stop prices. As well as modifying information required to be reported under the rule, including changing how orders are categorized by order size as well as how they are categorized by order type. To capture execution quality information for fractional share orders, odd-lot orders, and larger-sized orders, modify reporting requirements for non-marketable limit orders (NMLOs) in order to capture more relevant execution quality information for these orders by requiring statistics to be reported from the time such orders become executable, eliminate time-to-e xecution categories in favor of average time to execution, median time to execution, and 99th 1 Conformed to Federal Register version percentile time to execution, each as measured in increments of a millisecond or finer and calculated on a share-weighted basis. Also the time of order receipt and time of order execution should be measured in increments of a millisecond or finer, and that realized spread be calculated at both 15 seconds and one minute. Also enhancing the accessibility of the required reports by requiring all reporting entities to make a summary report available will help make a better market.