Subject: Support for File No. S7-30-22; Release No. 34-96494: Regulation NMS
From: Anonymous
Affiliation:

Mar. 26, 2023

  


Subject: Support for File No. S7-30-22; Release No. 34-96494: Regulation NMS
 
Dear Sir/Madam,
 
I am writing in support of the proposed Regulation NMS (File No. S7-30-22; Release No. 34-96494). The current rule that allows some market participants to trade at sub-penny intervals on their single-dealer platform gives them an unfair advantage in the market, allowing them to fill retail orders at slightly higher prices and appear more skilled than other exchanges.
 
I believe that the proposed rule will create a level playing field for all market participants by allowing everyone to trade at sub-penny intervals, eliminating this unfair advantage. Additionally, the proposed rule reduces the rebates that can be paid, making payment for order flow much less useful. Although the proposed rule wouldn't ban payment for order flow altogether, it would significantly minimize its impact.
 
I fully support the proposed Regulation NMS rule and encourage the SEC to move forward with its implementation.
 
Thank you for your attention to this matter. I have submitted this email as my comment on File No. S7-30-22; Release No. 34-96494 to rule-comments@sec.gov with the correct title entered into the subject header.
 
Sincerely,