Mar. 07, 2023
March 7, 2023 As a retail investor, I fully support your Proposal on Regulation NMS: Minimum Pricing Increments, Access Fees, and Transparency of Better Priced Orders (No. S7-30-22). The increment rules are currently one-sided and there is an opportunity for a middle ground. My biggest takeaway is cited on pages 30-32. We have much easier access to data, and there should be audited reporting requirements that go beyond \"self-reporting.\" The fact that we have not evolved our policies to meet technological advances is a good enough reason alone to carry this forward. I'd love to see a 3rd party auditor look into historical data from these firms to uncover more about their processes and habits. There is such a high volume of off-exchange trading, and even higher than the avg for what we've labeled as \"meme\" stocks. Please consider stringent reporting requirements, evidence of what causes LULD halts, auditing previous trades and tell these big firms to use this wonderful technology talent they have to build out data functions that can't be manually changed.