Jan. 03, 2023
January 3, 2023 Dear Ms. Countryman, this comment is re: rulemaking proposal S7-31-22 'Order Competition Rule'. Regrading Title IV., Letter B, Section 5: Exceptions to Rule 615, I suggest to amend the rulemaking proposal in the following manner The order competition requirement should also apply when a segmented order is received and executed during a time period when no open competition trading center is operating a qualified auction for said order. Reasoning: 1.) This change would make a small but significant contribution to leveling the playing field between high-frequency trading algorithms and human traders such as individual investors. 2.) Computerized trading should not receive a lighter touch of regulation than trading by humans. Sincerely, Vincent H. Merrywheather