Mar. 19, 2023
Dear SEC: I would like to show my support for this rule. I have become very concerned about the market as of late, especially about how certain market makers control such a large percentage of market orders, and that PFOF has allowed them to not only internalize trades, but to also negate the impact that these orders have on price discovery. The stock market is perceived as a "fair market", where the forces of supply and demand impact the price. I am quite concerned that the market does not function this way, and that this rule will help to remove unfair control from large market makers. If the SEC exists to protect free and fair markets, then it is essential that rules like this continue to be implemented. PFOF has been banned in other countries, and it amazes me that such a blatant conflict of interest can exist in the US market. In my opinion, the essence of a "market" is destroyed when monopolistic firms can control price discovery the way they do. It is clear to me that the big players of Wall Street have historically lobbied harder in order to keep the rules in their favour. I hope that comments like this will help to make a difference, and give the SEC the power to make changes for the people, and the betterment of free and fair markets. Thank you for your attention to this very important flaw in the system. - Rob