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

Mar. 12, 2023

 



To whom it may concern, 


I'm writing today to provide comment on the competition rule referenced in the subject line of this email, as I feel it is important that I make clear my interest and investment in the rule proposed. 


Points in brief: 


1) I fully support the rule, please implement it as soon as possible.  


2) Monopolies are bad, 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. 

3) I would gladly pay more per share to avoid being routed through a wholesaler that has been charged over 70 times by the United States government (https://files.brokercheck.finra.org/firm/firm_116797.pdf). 


Yours, 


Mitchell Prokop