Mar. 18, 2023
March 18, 2023 I am writing this comment in full support of proposed rule S7-30-22, but for some parts I feel we could go further. Regarding minimum pricing increments, I do not believe that a handful of market participants should share an unfair advantage and be able to trade at multiple decimal points while the rest of the market participants are restricted to 2 decimal points. Level the playing field and make the same rules apply to all - no exemptions. I also feel that minimum pricing increments do not need to be watered-down. Regarding access fees, I am in full support of lowering the maximum to $0.001, and I think this should happen, but I feel it does not go far enough. I feel that we should make access fees $0.000. Regarding transparency of better priced orders, I am in full support of this proposal. Odd lots should be disseminated on the SIP, but I also feel that this proposal does not go far enough. Odd lots should also affect the price. According to recent studies, household investors add a combined total of $1.5 billion per day into our equities market - mostly in odd lots. That is a lot of participation in our markets that is not affecting the price of equities, and this volume really should be taken into consideration.