Mar. 31, 2023
March 31, 2023 By Email Vanessa A. Countryman Secretary U.S. Securities and Exchange Commission 100 F Street, N.E. Washington, D.C. 205499–1090 rule- To whom it may concern: I fully support the idea of adding a fee to share transactions to ensure that those transactions are not routed through market makers and wholesalers who have a history of criminal activity as evidenced through their numerous fines. It’s clear: the practice of PFOF introduces inducements and incentives which distort order routing and violate duty of best execution. As a result, PFOF has undermined the fairness, simplicity, and transparency of the markets, creating a warped system which disfranchises retail investors for the benefit of high-speed speculators and rent-seekers. I would like to see odd-lot information included in the SIP. These transactions make up the majority of trades, but because they are not included, they do not have as great an impact on price discovery. I would prefer to see them impact the NBBO as effectively as possible so that they have a tangible, concrete effect on both price and the broker’s duty of best execution. I believe that the proposed amendments would greatly benefit investors and contribute to a more transparent and fair marketplace. Therefore, I urge the Securities and Exchange Commission to adopt the proposed amendments to Regulation NMS without delay. Regards, -L8TRGATOR