Mar. 24, 2023
I support the proposed rule, in order to create a fair and transparent stock market by promoting competition. The SEC should reduce conflicts of interest by increasing transparency in the routing of orders by brokers and wholesalers, and investors should have access to the best priced quotations available in the NMS. We must also ensure that Alternative Trading Systems are following the same rules as regular exchanges to help make the market fairer and more efficient for everyone involved. Retail investors like me support initiatives aimed at identifying and preventing fraudulent practices that undermine the credibility, integrity, and functionality of American markets. Sending orders to a wholesaler for internalization should not be the only option available to investors. Competition in the marketplace is necessary, and barriers to competition (such as PFOF) should be removed. It is highly likely that brokers will charge high commissions or fees in lieu of PFOF, so a cap should be implemented.