Mar. 19, 2023
Payment for order flow should be removed and the markets should be able to operate organically without the gamesmanship activities of market makers and hedge funds. SEC should stop all conflicts of interests in the markets, there should not be any exemptions for any institution. The argument of, "it allows liquidity" is a nonsense meme created by the market makers and hedge funds to rig the markets in their favor. There should be transparency in the routing orders for brokers and wholesalers with investors having access to the best priced quotations available in the NMS. There needs to be greater regulation over the ATS or the ATS should be banned altogether. There shouldn't be an alternate conduit that enables wash sales or other types of gamesmanship activities to occur to prevent true price discovery. It is time to get tough on these institutions that are rigging the system. They know they are breaking rules and it is entirely in their favor to ignore the rules because there are only fines to stop them. But before the fines can even happen, discovery of the rule breaking must occur by a regulating body. And due to the fact that regulating bodies will never have enough resources to catch every institution that is breaking the rules then it time to route out the offenders that are gaming the system. Institutions that are discovered in abusing any type of system MUST lose their license to operate in the markets. All executives at an institution that loses its license should also be banned altogether from being able to participate at any institution that is currently trading on the markets, otherwise that institution should therefore lose its license as well. It is time to clean the markets up to restore faith in these systems that are meant to allow business to thrive. It is time to end the gamesmanship of hedge funds market makers and broker dealers.