Feb. 12, 2023
February 12, 2023 Subject: File No, S7-30-22 FROM: Higinio Jr. Sustaita Date: February 7, 2023 Briefly, markets to have effective and current policies and procedures must coincide with technology and the obligation to comply with the Rules and Regulations in compliance with a fair national market system. Furthermore, the content of national market system data for equities and the consolidation and dissemination of that data has lagged meaningfully behind the technologies and data content widely used for proprietary data derivatives offered by exchanges. Critics call to acknowledge, improve buying, and support proprietary reports to unite all investors, and those orders placed in the national market system reflect the fair prices available for all investors. To enumerate, time Weighted Average, during the last month or so of the primary quarter (March, June, September, and December), also Rule 612, Rule 605, Rule 610, NBBO and VWAP/TWAP Minimum Pricing Increments, Acces fee caps, round lots, odd lots. Lastly, Important to realize,better-priced orders would enhance efficiency, competition, and fairness across the national markets system. Thank you for the opportunity to comment and propose improvement and a transition path for positive improvements of the Regulation of the National Marketing System.