Jun. 7, 2022
Good evening, I am a retail investor that has been invested in gamestop (GME) since before the january 2021 short squeeze. I have followed gamestop's story daily since december of 2020. I would like to express my whole-hearted support for this proposal. The number of reasons are too long to list, so let me try to just give you two single bullets. Per the SEC - I understand that market manipulation is illegal/ Per Gary Gensler interview - 90-95% of retail orders go straight to dark pools. I believe that price discovery of GME has been illegally manipulated using dark pools, ATS's, options, swaps, and spoofing. I believe there is a mountain of evidence to support this belief, and the SEC has not only been negligent in it's duties but complicit in these ongoing activities. I believe a 2-week (minimum) band on dark pool/ATS trading of GME and AMC will prove that these systems are being used to manipulate price discovery. The intended purpose of ATS's, as I understand it, is to allow for large block trades to not impact the price of a security. There is vast amounts of evidence that suggests these systems are being used to actively suppress price discovery, making me question the integrity of our markets, and the integrity of our regulators. If ATS's are not being used to manipulate the price then there would be no reason not to enact this rule, as no impact would be felt on the market. If they are being used to manipulate the price, it will be a helpful tool for the SEC and the DOJ to understand the depths and mechanics of the issues at hand. I thank you for your time and consideration. Sincerely, Andrew