Mar. 12, 2023
Dear SEC, I am writing to express my support for the proposed Order Competition Rule, File No. S7-31-22, Release No.34-96495, as a Household Investor. While I fully endorse the rule, I do have one concern regarding the allowance of orders to go to Citadel first, giving them a significant information advantage. I believe brokers should first route orders to the auction, and only if necessary, route them to Citadel. This would create a level playing field that the markets desperately need. I commend Chairman Gensler and the entire SEC for their efforts in reforming the system and urge them to continue their work. The lack of fair competition among brokers and dealers, as well as exchange markets, has gone unaddressed for too long. I am encouraged to see changes taking place. Moving forward, I hope to see larger fines that serve as a deterrent, as well as the revocation and suspension of licenses for repeat offenders. I also urge the prompt referral of criminal offenses to the DOJ for prosecution. These corrective measures should have been in place all along and their absence has contributed to the current issues facing the market. Thank you for your attention to this matter. Sincerely, Samuel Cressy Mishawaka, Indiana