Mar. 15, 2023
Hello, I previously commented on S7-30-22 but want to ensure this comment is applied to S7-32-22 as well. I am exhausted having to constantly voice our concerns with the market as it stands. Despite that I will continue to voice my concern as long as I have to. Despite constant objection from household investors, corrupt Market Makers are continued to be allowed to create infinite liquidity thus defeating the chance of true price discovery to ever occur. I am tired of weak fines that do nothing to deter these criminals from siphoning money from household investors. This is because the "cost" is significantly outweighed by the ill gotten gains. Those that are continuous breakers of the rules should lose their licenses. It is that simple - how is that hard to understand? I would gladly pay 12 cents more a share to avoid being routed through a wholesaler that has been charged over 70 times by the United States government (https://files.brokercheck.finra.org/firm/firm_116797.pdf). I would gladly pay commission to avoid being routed through a wholesaler, especially one with a long and detailed history of breaking the law like Citadel Securities. All exchanges should have to quote AND trade in the same increments. Some exchanges shouldn’t be granted an unfair advantage over others. It leads to monopolistic control of parts of the market that counteract and eventually kill the positive benefits of competition. The markets are supposed to be fair - so make them fair. I also support any structure with clear language. For example, some funds and firms might request language like "has a reasonable amount of liquidity at the NBBO", which translates to "I can ignore the rule if I feel my lawyers can help me get away with it". Loose language makes enforcement difficult or impossible, and wastes taxpayer dollars on needless litigation time - seriously fix this. Clear language and a clear and unambiguous tick size rule structure are strongly preferred. Please do not include vague language in the application of your rules. You are asking for the rules to be broken when you do that. It is blatantly obvious that Citadel Securities and others have ill-motivated, selfish and greedy intentions. As many of us are not fully versed and educated on how these rules work we rely on the SEC to protect our interests. So please protect us SEC - you are our only hope. Otherwise we may as well sign the death warrant for the Stock Market because Citadel and others would rather see it implode than allow fairness and transparency to ever occur. Are their malicious intentions not obvious by now? Whatever Citadel securities is in favour for I am against because I know they do not have a desire to ever see a fair and free market. I thank the SEC for taking the time to read my comment and hope that they protect the interests of household investors before global faith in the transparency and fairness of our markets is no more. Let's stop the music and let the tide go out, we'll see who has been swimming naked. Let them fail even if it means some parts of our markets collapse - perhaps a complete rebuild is needed in order to root out the corruption and evil from our markets. Let's build a new, fair and fully transparent market structure that works for all and not just the wealthy elites. Thank you.