Aug. 19, 2021
As a retail trader, I oppose this. I understand this solely benefits high-speed traders like Citadel: retail traders will get a worse price due to the amended decreased quotes and they don’t desire increased trading speed that this effectuates. The assumptions of a better price for retail traders isn’t true in most real world occurrences. In actuality, retail traders can easily and quickly perform the series of calculations written on page five and the example given regarding improvement from the proposed change isn’t what would occur in most circumstances, but what would is a worse price for customers. This change effectuates increased profit for Chicago Board Options Exchange and their biggest customers like Citadel at the expense of retail traders.