Mar. 12, 2023
To whom it may concern, The Order Competition Rule, File No. S7-31-22, Release No.34-96495 would benefit retail investors and ensure fair competition while breaking the monopoly Citadel/Virtu has created. I believe some broker-dealers should lose their licenses instead of receiving fines that amount to nothing more than the cost of doing business. A cost that is often outweighed by the ill-gotten gains obtained through “honest mistakes”. Monopolies are detrimental to the markets, and there is clear monopolistic behavior here. The Commission notes that 90% of marketable orders of individual investors in NMS stocks to a small group of six off-exchange dealers, and 66% is captured by just two firms. Those figures will be even higher for specific stocks. The state of American markets is clearly anti-competitive and that needs to change. I sincerely appreciate and support any efforts to reduce the speed of games that damage American markets' integrity, credibility, and functioning. Best regards, Arman Modiri