Mar. 07, 2023
Hello, I am a household investor who has seen the recent proposal and am leaving my feedback. Enforcement of our market rules is of the upmost importance to me and other household investors I've talked to. This means larger, meaningful fines and bigger penalties that stop market makers from seeing fines as just a cost of doing business. If it costs less to break the rules and pay the fine than not follow regulations then the regulations are meaningless. I would gladly pay up to a dollar more per share traded to avoid my order going through a wholesaler like Citadel or Virtue that has been fined tens of times for infringing on my rights. I fully support the harmonization of tick sizes across all exchanges with no exceptions and clear rules. It's extremely important that all market participants are held to the same standards of providing trades and quotes according to the same rules. I support the inclusion of odd lot information in the SIP. Odd lots are a majority of trades and should have a greater impact on price discovery. I oppose the inclusion of any vague language into this rule or any others. The exclusion of odd lots from the price amounts to the exclusion of most household investors. Please look into a way to fairly and proportionately include odd lots in the calculation of the NBBO. Please feel free to reach out with any questions. Thank you, Tim Troiano