Mar. 31, 2023
Best execution is important in trade execution for individual investors who may not understand the complexities involved in choosing how to execute a trade. current king makers determine who lives and dies as well as pocketing the difference in order cost. this is such a sham once you open the hood. Provide clear guidance on how to read and interpret the data in Regulation NMS Rule 605 reports, especially for retail investors who may not have a deep understanding of the markets. people can't read a wall of text anymore, simplification of and education of structure is better suited for mass rollout Brokers owe their customers a duty of Best Execution derived from common law agency principles and fiduciary obligations, but it needs to become a rule that the SEC can enforce. brokers have a judiciary duty to enrich themselves , customers are the product. cynical? no, just facts here based on how retail gets 2nd citizen status 100% of the time. EULA/SLA Conflicted orders don't belong in a Best Execution rule. Without the best execution rule, customers may not be aware of revenue arrangements between brokers and subpar trading firms or that they may be paying higher transaction prices. actually, already a thing Different trading venues may offer different prices, slower execution can lead to missed opportunities. Information leaks can inhibit a successful transaction, and less reliable settlement processes can delay receipt of proceeds. running a monopoly like citadel or an oligopoly like the big 5 banks helps no unlike a moral hazard, they will be abused and pay fines to run shop and run game on the common people In December 2020, Robinhood was charged by the SEC with failure to satisfy its best execution obligation, resulting in an aggregate loss of $34.1 million for its customers. they as well as APEX clearing should not exist for market manipulation, yet here we are, asking for a fair shake....years later. I the bar was low fellas. I'm sure Biden has funded you better off than Trump did to kill you off. maybe put that to work before the next republican president tries to bury the SEC? Robinhood made misleading statements and did not disclose payments received for routing trades to specific firms. cost of business, they're still playing games with coin wallets and nothing happens. Citadel paid the SEC $22.6 million in 2017 to settle best execution charges for executing customer trades at less favourable pricing when a better price was available. retail gets the bags Brokers recommending mutual funds with 12b-1 fees and revenue sharing arrangements with clearing brokers have also faced best execution charges from the SEC. customer is product Quarterly reviews of execution quality would provide transparency and accountability for the broker-dealers' practices. audits and paper trails. try it. The proposed rule would provide a more detailed and comprehensive standard for broker-dealers to follow, resulting in consistently robust best execution practices. The proposed Regulation Best Execution is a necessary step in protecting household investors and promoting fair and efficient markets by ensuring that household investors are receiving the best possible execution for their trades. but I think no one cares about protecting the majority wage slave. the suits got theirs, right? -- -- Respectfully, L.Sacerio