Currently market makers are able to dominate the market through rebates. First and foremost, volume-based pricing may inadvertently discourage smaller investors and retail traders from participating in the stock market. By imposing fees based on the number of shares traded, this approach places a disproportionate burden on those with limited resources, making it more difficult for them to engage in stock trading. We should strive for an inclusive and accessible stock market for all, promoting financial literacy and investment opportunities for a wide range of investors. Furthermore, volume-based pricing introduces the potential for market manipulation and exacerbates high-frequency trading. Such a system may incentivize trading strategies aimed at artificially inflating trading volumes, which could lead to increased market volatility and, in some cases, harm the overall stability of the market. Additionally, the adoption of volume-based exchange transaction pricing may result in the fragmentation of trading across various exchanges, leading to a less transparent and efficient market. Traders may be compelled to seek out the exchange with the most favorable pricing rather than where they believe the best execution can be achieved. This could diminish price discovery and negatively impact overall market integrity. I urge you to reconsider this approach and explore alternative means to improve market efficiency and fairness without disproportionately burdening individual investors and potentially harming market stability. It is essential that we prioritize policies that promote the long-term health of our financial markets and ensure equal access for all participants. Prohibit national securities exchanges from offering volume-based transaction pricing in connection with the execution of agency-related orders in certain stocks I appreciate your attention to this matter and kindly request that you engage in a thoughtful and inclusive dialogue with market participants, industry experts, and concerned citizens to develop a more balanced and equitable pricing structure for NMS stocks.