Subject: S7-32-22: WebForm Comments from Tony Thompson
From: Tony Thompson
Affiliation: Executive Management

Jan. 31, 2023

January 31, 2023

 This rule is horrible for retail investors.  It ruins price discovery based on supply and demand.  By allowing this rule, orders will be ran through dark pools and subject to front running and block trades that can affect price discovery in the opposite direction.

We have seen the results of this in stocks like GME and AMC where a majority of Retail investors hold and buy, yet the price keeps decline dont matter what the buy/sell ratio is.

This type of rules only benefit the institutions and Retail investors will be the ones suffering again.