Subject: S7-31-22: WebForm Comments from Jonathan De Arcos
From: Jonathan De Arcos
Affiliation:

Feb. 24, 2023



February 24, 2023

 Internalizing trades as MM do to individual investor trades is not conducive to a fair and free market. Dark pool trading should not be allowed. This is not price discovery, this is severely restricting a free and fair market.

FTD's need to be dealt with when constant internalization of trades continues to happen. Proper price discovery is not possible when PFOF and dark pool trading is allowed.

Infinite liquidity is not acceptable and severely restricts proper price discovery.