Mar. 31, 2023
March 31, 2023
I support this rule for the following reasons:
The proposed changes to ATS rules promote better alignment with regulatory frameworks for exchanges would be beneficial for individual household investors.
ATS (Alternative Trading Systems (ATS are SEC-regulated electronic trading platforms that match buyers and sellers of stocks) should submit detailed disclosures about their operations, including how they manage conflicts of interest, how they operate their order routing practices, and how they handle customer orders. This would make it easier for investors to understand how ATS operate and how their orders are executed.
ATS should establish and enforce written policies and procedures to prevent fraudulent and manipulative practices. This would help to protect individual investors from abusive practices in the ATS market.
ATS should provide detailed information about the operation of their systems to the SEC, including data on the execution of orders, order routing practices, and information about the use of dark pools. This would improve the SEC's ability to oversee ATS and ensure compliance with regulatory requirements.
ATS should operate in a manner that is consistent with the broader regulatory structure of the securities markets, which would benefit individual investors by promoting fair and transparent trading practices.