Subject: S7-32-22: WebForm Comments from Ethan Kertai
From: Ethan Kertai
Affiliation:

Jan. 12, 2023



January 12, 2023

 I believe we are entitled as retail investors to best execution. Best execution is not possible when there are entities that are both front running and taking the opposite position to the retail investor. Being able to invest the amount of money that a hedge fund has while also having access to live trades through PFOF is an unfair advantage and needs to be stopped. Best execution is not possible while the PFOF model exists.