Dec. 28, 2022
December 28, 2022 Reform to tick sizes, access fee caps and transparency for fairer priced orders are vital. This is a far delayed change with a wide significant change on order routing and execution. The most vital part of this is the tick size reform. Internalizers have a regulatory advantage over exchanges - they can execute orders at all pricing increments. I have seen millions of shares traded with only a fourth of decimal change before suspicious halts and drops in GameStop, KOSS, and dillards before it was less affected, further life saving medicines for prostate cancers were delayed by these practices being exploited . These changes would end an unfair tradition wand create a fairer market. It will mean that retail investors have the opportunity to get the same level of price improvement on-exchange, meaning their money is recognised as equally earns. This change the incentives for retail brokers. Dropping the access fee cap (the fee that exchanges can charge for liquidity-taking orders) to 5-10 mils depending on tick size, will also make it less costly for brokers to route orders to exchanges, making a fairer and more competitive market for international investors.