Subject: Re: Order Competition Rule, File No. S7-31-22, Release No.34-96495
From: Arman Modiri
Affiliation:

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