Feb. 23, 2023
Dear Sir or Madam, I am writing to express my strong support for SEC rule change 34-96495, which proposes amendments to the current requirements for the Order Competition Rule. As an investor, I believe that the Order Competition Rule is crucial for ensuring fair and efficient markets, and for protecting the interests of investors. The proposed rule change would update and clarify the current requirements, reflecting changes in technology and market structure, and would improve the transparency and competition in the order routing process. I particularly appreciate the proposed requirements for broker-dealers to provide more detailed information to clients about their order routing practices, including information about the types of orders and execution venues used, the factors considered in determining the routing of orders, and the extent to which broker-dealers rely on technology and algorithms in the routing process. This would enhance transparency and enable investors to make more informed decisions when selecting broker-dealers. In addition, the proposed rule change would require broker-dealers to provide investors with more detailed information about the rebates and fees associated with order routing practices and would enhance the transparency and competition in the routing process. This would ensure that broker-dealers are competing on the basis of price and quality of execution, and would benefit investors by improving execution quality and reducing costs. In conclusion, I believe that the proposed rule change would promote fair and efficient markets, enhance transparency and competition in the order routing process, improve the quality of execution, and reduce costs for investors. I strongly urge the SEC to adopt this rule change. Thank you for your attention to this matter. Sincerely, Sarah Geno