Mar. 31, 2023
I am writing this email to convey my approval of the before mentioned rule. Currently, market makers have an advantage when they trade at sub-penny intervals on their single-dealer platform, while everyone else is limited to trading in penny increments. This allows them to fill retail orders at slightly higher prices and makes them appear more skilled than other exchanges. The proposed rule would level the playing field by allowing everyone to trade at sub-penny intervals and eliminate this unfair advantage. additionally, this rule would reduce the rebates that can be paid and makes payment for order flow much less useful and reduce toxicity in our markets. I am aware this rule would not ban PFOF, but would greatly hinder the effects that it makes on the market. Please for the sake of my family, do the right thing and approve all of these rules set forth. Thank you for your time and consideration, Matthew A.