Subject: S7-32-22: WebForm Comments from Fxxx Bxxx
From: Fxxx Bxxx
Affiliation: Household investor

Mar. 27, 2023

 


  March 27, 2023

 Dear Commission,

Do not exempt hedging, \"bona fide\" market making, or liquidity-related activities from anti-PFOF regulation. Market makers and artificial liquidity are the reason we have a problem to begin with.

Also, in the future, it would be better to actually disincent much of the market's artificial liquidity, but for now an auction-based order flow it at least a marginal improvement.

Thanks.