Subject: Re: SEC Proposal on Regulation NMS: Minimum Pricing Increments, Access Fees, and Transparency of Better Priced Orders (No. S7-30-22)
From: Allie Birge
Affiliation:

Mar. 31, 2023

Hello,

I believe that each rule the SEC passes is only as good as the enforcement that backs it. I want to see higher fines that actually serve as a significant deterrent.

I also believe the exclusion of odd lots from the NBBO is a problem. Odd lots are now a majority of trades in the markets. Within some stocks, they are the vast majority. The exclusion of odd lots from the price of a stock amounts to the exclusion of most individual investors - most of the voting public. Please look into a way to fairly and proportionately include odd lots in the calculation of the NBBO.

Thank you,
Allie