Dec. 19, 2022
December 19, 2022 On this proposed rule change we are talking about \"Best Execution\" (Best Execution and Interpositioning) requires that, in any transaction for or with a customer or a customer of another broker-dealer, a member and persons associated with a member shall use reasonable diligence to ascertain the best market for the subject security, and buy or sell in such market so that the resultant price to the customer is as favorable as possible under prevailing market conditions. Firms must conduct a regular and rigorous review of the execution quality of customer orders if the firm does not conduct an order-by-order review. How exactly am I, a retail participant with an immense technological disadvantage, able to achieve the best price when there are an unlimited number of loopholes (derivitives, swaps, FTDs, darkpools, and securities wrapped in crypto) used against me. Even in the midst of diligent research, my investments are at risk of predatory behavior by institutions in this market. My point is that all these loophole seem to make the \"prevailing market\" an illusion. Its great that we are talking \"best price\" and execution improvements but I would like to see the SEC/DOJ investigating the swaps/derivatives that are married to cryptocurrency tokens that are not regulated. Recent evidence from FTX has shows these widely available tokens (specifically GME and AMC) are supposed to be backed 1:1 with securities when they are in fact backed by nothing. Again, we are living in a market that is an illusion and the spirit of trading stocks at transparent pricing is completely broken. If the American public understood what was going on they would be horrified and ashamed of this monstrosity. The younger generation of American investors are fed up with the markets and the predatory behavior . If we can't make it a fair playing field then we will take our capital elsewhere.