Jan. 31, 2023
January 31, 2023 This rule does not address the greatest issue in the market today, payment for order flow. Sure the title sounds great, but it will not prevent market makers and brokers from front running retailers for their gain. So much of the competition is really for the ability to manipulate retailers. You take away payment for order flow PFOF and the market starts to move organically based on supply and demand. Currently market maker exempt rules allow an infinite amount of FTDs and there are literally billions of short sells weekly with no regard to the finite numbers of shares a company issues. Providing liquidity is not a reasonable explanation for what is being done. As price rises, liquidity will occur naturally without coercion. Market makers need to be put in check when they knowingly sell stock without locating. They will continue to pay any fine, the real punishment needs to be jail and banishment from wall street. Send a message, do your job. Retailers have no other place to turn. The SEC is worthless if it has no ability to hold criminals liable. And I'm not talking about Kim Kardashian. I'm talking about Ken Griffin and Doug Cifu, the infinite liquidity fairy, who goes on national TV and brags about selling stocks he doesn't own, can't locate and doesn't care. Because he had a free pass from the SEC as a market maker. Ken Griffin lies to congress about forcing RobinHood to pause the buy button and then manufacturers a short squeeze for them the week of their IPO so Vlad can sell his shares. It's ridiculous. Citadel is going to crash the world economy by their reckless practices and the SEC is apparently fine with it.