Mar. 19, 2023
March 19, 2023 To Whom It May Concern: As a retail investor, I strongly believe in the importance of a fair and transparent market that protects individual investors from abusive practices in the ATS market. I strongly support the proposed Order Competition Rule, File No. S7-31-22, Release No. 34-96495, which seeks to level the playing field for all investors. The proposed rule aims to increase transparency in the routing of orders by brokers and wholesalers, giving investors access to the best priced quotations available in the NMS. This is crucial in ensuring that individual investors are not disadvantaged by preferential treatment given to larger players. Additionally, the proposed changes to the ATS rules would promote better alignment with regulatory frameworks for exchanges, further protecting individual investors from fraudulent and manipulative practices. ATS should submit detailed disclosures about their operations, including how they manage conflicts of interest and how they handle customer orders. This will make it easier for investors to understand how ATS operates and how their orders are executed. Thank you for reading this and for your consideration. I support the SEC’s efforts to create a competitive market structure that benefits all investors and encourages transparency. I believe that the proposed Order Competition Rule is a crucial step in the right direction towards achieving a fairer and more transparent market that protects individual investors from abusive practices in the ATS market. information in the SIP. By doing so, investors will have more confidence in the market’s integrity and receive fair treatment. Regards, Roxanne Barrionuevo