Mar. 31, 2023
To whom it may concern, The Commission 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 prices quotations available in the NMS. I support the proposed changes to ATS rules and believe they would greatly benefit household individuals- which represent the majority of the voting public. ATS should be required to submit detailed disclosures about their operations, including conflict of interest management, order routing practices, and how customer orders are handles. ATS should establish and enforce written policies and procedures to prevent fraudulent and manipulative practices, which would again protect household investors from fraud in the ATS markets. The proposal to implement a variable minimum pricing increment model for quoting and trading of NMS stocks would level the playing field for all investors and promote fairness in the markets. I fully support and initiatives aimed at identifying and preventing fraudulent practices that are undermining the credibility, integrity, and functionality of the US market. Individual household investors shouldn't have to route their orders to wholesalers for internalization and abuse. A commission price cap should be implemented in lieu of PFOF. The SEC should prioritize creating a competitive market structure that benefits all investors and encourages transparency. Regards, Mike Bodner