Subject: File No. S7-08-20
From: Sheldon Friedland

July 27, 2020

This proposed rule change is a really bad idea as it reduces transparency and puts many individual investors at a disadvantage. Given the SEC's emphasis on a level fair playing field, this rule change makes no sense.
This proposal joins a long list of recent actions that decrease transparency and reduce both the Commission's and the public's access to information about our markets.