Mar. 31, 2023
Hello, I'm a younger investor who has been losing faith in our markets. I feel a glimmer of hope when I see the SEC making these types of changes that benefit retail, creating a fairer and more transparent market. I am in FULL support of this rule for the following reasons: First, I think markets should be PUBLIC. They should not be internalized where the price can be manipulated. These orders should be public where everyone can fill the order at the best market price. This creates competition and SHOULD be how markets are structured. Payment for order flow should also not be allowed and should be banned. It doesn't make any sense to have market makers route orders differently because certain brokers (like robinhood) use PFOF. I also want to see the SEC enforce these rules with increased fines, because it doesn't make any sense to fine these entities such a small fraction of their profits --it just becomes the cost of doing business for them. Dark pools, or alternative trading systems, should provide quotes and trades to consolidated market data, for a more transparent market. It's unfair for these wholesalers to have information advantage! I would appreciate it if the Commission would make brokers route to the auction first, and then specify where the order should go if the auction is successful...we need to stop these unfair advantages wholesalers have against retail --it screws over the little guy. These wholesalers have so much influence over market participants and this presents a conflict of interest for these other market participants to objectively review the rules. They're stealing from individuals and institutions and masking it as "superior performance", and this just isn't right. We need to remove the middlemen from the market which will improve prices for retail investors and institutions like pension funds. This will save individuals billions of dollars stolen from wholesalers. Please reduce these monopolistic behaviors and remove profiteering middlemen from the market! Please investigate conflicts of interest in the market, so that participants can objectively review AND enforce the rules. Thank you for taking the time to read my email. Let's all hope for a better and fairer market, not just for us, but for our future generations. Let's make these changes! Regards, Loc Vo