Apr. 20, 2022
Simply put, this rule is not in the best interest of retail traders. Our financial markets are reportedly based on free flow of information which should lead to efficient price discovery (fair prices based on public sentiment). This is yet another rule proposal that seeks to add an unnecessary layer of complexity to our markets. Moreover, this rule essentially eliminates the responsibility of market makers (and other large financial players) to close options contracts by purchasing at the market price. In effect, this works directly against accurate price discovery and efficient markets by giving large financial institutions yet another tool to route trades off of "lit" exchanges. This type of trading is incredibly damaging to retail traders. This rule should not be implemented. Concerned, Jesse Taylor