Dec. 26, 2022
December 26, 2022
I am a retail investor writing to express my support for this proposal. I was shocked to discover that not only can retail trades be executed off-exchange, but that the majority of such trades are executed off-exchange. Routing orders to market makers and alternative trading systems does not benefit the retail trader. Even worse, it seems like most retail trades are executed by one of two firms, Citadel Securities and Virtu Financial. This effective duopoly is antithetical to an effective, fair, and transparent marketplace. Not only that, but it adds unnecessary risk to the stability of our markets if one or both firms should fail.
I am very pleased that the SEC is taking steps to make our markets more competitive and transparent. Please continue to fight this good fight.