Feb. 27, 2023
February 27, 2023 Overall this NPRM is a step towards creating a better market for individual investors. The rules specifies \"segmented\" orders via a market order vs. a limit order. I primarily utilize a limit price when trading to get the share price that I'm aiming for especially since I'm unable to constantly track share price and I assume a majority of individual investors do the same. This rule may not benefit small cap stocks without liquidity as the bid/ask gap increases. I agree this will create more competition but I'd suggest allowing more transparency for investors to pick and choose where their route are routed via wholesalers. As with any other business, having the opportunity to support a business you trust may improve for the wholesaler. In addition, individual investors should have the option to allow the internalization of orders. As there are so few available to choose from the market is 3 degrees from being a monopoly. The prohibition of PFOF would greatly change the market structure and allow a free and more transparent market.