Mar. 31, 2023
· Support the new rule requiring Citadel to go through public auctions to fill orders and ban PFOF in US markets. · Brokers that don't accept any kind of PFOF route orders differently and provide better execution quality. · Robinhood's PFOF responsible for 70% of its revenue, but study found no significant price improvement compared to exchanges. · Dark pools should provide quotes and trades to consolidated market data for more transparency. · Remove middlemen from the market to improve prices for individuals and institutions, like pension funds. · Ensure fair competition, reduce monopolistic behavior, and remove profiteering middlemen from the market. · SEC should investigate conflicts of interest among market participants and improve enforcement with higher fines and license revocations. Sent from Mail for Windows