Jan. 10, 2023
January 10, 2023 Proposal S7-30-22 I support this proposal as I believe it will lessen the disadvantages faced by retail investors Market Makers and other financial institutions have an unfair advantage over retail investors as they are able to trade at fractions of a penny. While this is seemingly small, the aggregate sum of those fractions over the billions / trillions of trades can equate to a very substantial amount of money. For example, the premise of the cult comedy Office Space explores this concept. While fractions of a penny may seem like simple rounding the additive effects of it over a length of time mean huge amounts of wealth being skimmed from retail investors. This has a real world impact on us and robs us of millions if not billions of dollars over time. There is no reason for large financial institutions to be given this unfair advantage. Therefore I support these amendments to the minimal pricing increments. Additionally, I would like to voice my support for the acceleration of the implementation of the odd-lot definitions and the amendment to their information-definition (as adopted under the MDI Rules to require the identification of the best odd-lot order). I believe these changes will lessen the inherent disadvantages faced by retail investors.