Mar. 31, 2023
Dear Ms. Countryman, I am writing in support of File No. S7-29-22; Release No. 34-96493, also known as Disclosure of Order Execution Information. This rule helps household investors get the best prices on securities by promoting competition among different places where stocks are bought and sold. It is important for the sake of individual investors who may not comprehend the mechanics involved in choosing how to execute a trade, but who nevertheless deserve optimal outcomes for the money they choose to invest. Investors should always have access to the best priced quotations available in the NMS. Firms should not be able to run “price improvement schemes” which get better trades for retail, but not the best trade. This is deceptive and allows them to capture order flow without actually providing the best price. Brokers should not be incentivized to send customers to a particular trading platform when it’s not the best place to get the best price. This proposed rule is a useful step in protecting household investors and promoting fair and efficient markets, and I urge the SEC to implement and enforce it as soon as possible. Thank you.