Mar. 19, 2023
It is my understanding that this role would force all orders to go to a public auction to be sure the best price is achieved and not having any I've company. This rule would favor all traders, not just retail. As a trader in the us markets, I am in favor of this rule. Payment for Order Flow (PFOF) has been effectively banned in the UK due to conflict-of-interest concerns – and this should be the case in US markets too. Additionally the SEC should investigate conflicts of interest among market participants to ensure that participants can objectively review the rules. Removing middlemen from the market will improve prices for both individuals and institutions, such as pension funds. The auctions would save individuals billions of dollars taken by wholesalers. The Commission should ensure fair competition by reducing monopolistic behaviour and removing profiteering middlemen from the market.