August 27, 2014
To whom it may concern!
I am a self directed, active investor. I believe that in order to be a successful investor, one must create a large number of occurrences mostly all with favorable, probabilistic outcomes. Please tell me how I can possibly benefit from .05 wide markets instead of .01 wide markets? I manage all my own money and I couldn’t care less about institutional managers. My average size trade is 1000 shares. I trade a few thousand times a year. I currently have no issues with liquidity and I even get price improvement from my broker’s liquidity provider over 70% of the time. I believe that widening the markets for the sole benefit of the NYSE’s arrogance, bad business practices and disappearing bottom line as well as for some institutional trickle down logic is borderline criminal and not at all in the spirit of helping the individual investor.
The SEC should be ashamed and embarrassed by this proposal. They should be helping the individual investor not hurting them.
Respectfully,
Tom Sosnoff