Mar. 12, 2023
To whom it may concern, I wanted to voice my support for this rule change. Brokers should always route orders *first* to the auction, and only if someone doesn’t take the order should it be routed to a wholesaler. Allowing internalizers to front run trades and decide what gets sent to a lit exchange destroys true price discovery and competition. Please raise the fines on entities that disobey SEC rules. If a fine is negligible in proportion to a company’s total worth, it is no longer a deterrent, but a cost of doing business. Thank you for pushing in the right direction, Michael Joy