Mar. 31, 2023
I strongly support the Commission's proposal to standardize the tick size and pricing increments across market participants. Everyone should be able to trade at the same intervals. It is not healthy for our markets for Citadel alone to be able to trade at sub-penny intervals while everyone else is stuck trading with penny intervals. It does not encourage competition. It is one entity being favored above others and given an unfair advantage. Citadel Securities, which has a long and lengthy history of skirting the law, is currently being unduly favored by the status quo. I would gladly pay commission on every trade that I make rather than use Citadel. The damage they do to the markets with their current monopoly far outweighs any minor price improvement that they claim to be making. Standardize the tick size across all exchanges. Don't give anyone special privileges - especially not an institution like Citadel that views laws as inconveniences and fines as the cost of doing business. Help the American people believe that you're actually on their side. This is about maintaining the faith of the common person in the market. No exceptions for anyone, no special treatment, as it inevitably shifts us towards monopoly and away from the benefits of competition. If you want to make the markets more fair, make the markets fair. I should be able to trade at the same tick size that my broker or Citadel trades at as should everybody else. No vague language and no exceptions. I do not think there should be rebates in any meaningful capacity. It should be zero-fee preferably, or possibly low fee like $.001 if entirely zero isn't feasible. Rebates just end up being PFOF by another name. Odd lot information should be included in the SIP. Odd lots are the majority of trades. Odd lots should impact NBBO and have a tangible impact on broker's execution. As it is now, the vast majority of odd lots are internalized. This is wrong and not healthy for the markets. Sincerely, A concerned American citizen.