Mar. 31, 2023
March 31, 2023 Dear Ms. Countryman, I am writing to express my strong support for the proposed amendments to disclosure required under Rule 605 for Regulation NMS (File No. S7-29-22). As a retail investor, I believe that these changes will improve transparency and fairness in the markets. Firstly, I fully support making broker-dealers subject to Rule 605. Currently, this rule only applies to market centers, and it is essential that broker-dealers are also subject to the same reporting requirements. This change will provide investors like myself with a more complete picture of the execution quality of our trades and allow us to make more informed decisions. Secondly, I am in favor of amending the definition of covered order to include after-hours trading. With the increasing popularity of after-hours trading, it is crucial that these trades are also included in the reporting requirements. This will ensure that investors have access to information about the quality of execution of trades that occur outside of regular market hours. Finally, I fully support the inclusion of fractional shares and odd lots in reporting. Currently, these trades are not included in the standardized monthly reports required under Rule 605. This change will ensure that investors who engage in these types of trades are also able to access important information about the quality of execution of their trades. Overall, I believe that the proposed amendments to disclosure required under Rule 605 for Regulation NMS are essential for improving transparency and fairness in the markets. These changes will provide retail investors like myself with more complete and accurate information about the execution quality of our trades. Thank you for considering my comments. Sincerely, P. Traversa