Mar. 31, 2023
March 31, 2023 Dear Ms. Countryman: The proposed changes to ATS rules and the SEC's focus on increasing transparency in the routing of orders by brokers and wholesalers, align with the broader goal of promoting fair and transparent trading practices, which would ultimately benefit individual investors. By requiring ATS to submit detailed disclosures about their operations, establish written policies and procedures to prevent fraudulent practices, and provide data on the execution of orders and order routing practices, the SEC would have better oversight and could ensure compliance with regulatory requirements. The new rule will make the market more fair and accessible for retail investors. Sincerely, Arun