Subject: S7-30-22: WebForm Comments from Nevin Varghese
From: Nevin Varghese
Affiliation:

Dec. 26, 2022

December 26, 2022

 Dear Securities and Exchange Commission,

I am writing to express my support for the proposed S7-30-22, which aims to allow for trading in NMS stocks to be priced in sub-penny increments. I believe that this change will bring significant benefits to market participants and investors.

The current minimum pricing increment of $0.01 often results in tick-constrained stocks, which limits the ability of market forces to establish prices that reflect true liquidity and price competition. Allowing for sub-penny pricing will enable buyers to obtain lower prices from willing sellers and sellers to obtain higher prices from willing buyers, resulting in a more efficient market.

In addition, the enhanced transparency provided by the MDI Rules will give investors valuable information about the best priced orders available in the market. Accelerating the implementation of these rules will help to further increase transparency and improve the overall functioning of the market.

Overall, I believe that the proposed changes in S7-30-22 will bring significant benefits to market participants and investors, and I urge the Securities and Exchange Commission to move forward with their adoption.

Sincerely,
Nevin Varghese