Feb. 24, 2023
February 24, 2023 Dear Securities and Exchange Commission, As a retail trader, I am writing to express my strong support for the proposed amendments to Regulation National Market System (Regulation NMS) under the Securities Exchange Act of 1934. I believe that these changes will improve the fairness and efficiency of the stock market, which will ultimately benefit all investors, especially those like me who may not have access to sophisticated trading tools. I support the proposal to adopt variable minimum pricing increments for the quoting and trading of NMS stocks. This will allow for smaller increments of price movement, which will make it easier for traders like me to enter and exit positions at more favorable prices. This will also make the market more competitive and efficient, which will ultimately benefit all investors. I also support the proposal to reduce the access fee caps. As a retail trader, I have experienced the high costs of access fees, which can be a significant portion of my trading costs. The proposed reduction in access fee caps will help to lower my costs, which will allow me to take advantage of more trading opportunities and ultimately benefit from a more efficient market. Finally, I strongly support the proposal to enhance the transparency of better priced orders. This will allow me to see when someone is selling a stock for a better price, which will make it easier for me to get a good price when buying or selling a stock. This will also make the market more fair and transparent, which is essential for all investors, especially those who may not have access to the same resources as institutional investors. In conclusion, I believe that the proposed amendments to Regulation NMS will greatly benefit retail traders like me. The changes will improve the fairness and efficiency of the market, lower our costs, and make it easier for us to take advantage of trading opportunities. I fully support these changes and urge the SEC to adopt them. Thank you for considering my views. Sincerely, Julio Tello