Mar. 14, 2023
March 14, 2023 I am writing to strongly support the Proposed Rule to Enhance Order Competition. This rule would require certain orders of individual investors to be exposed to competition in fair and open auctions before they could be executed internally by any trading center that restricts order-by-order competition.This rule is a significant step in ensuring that retail orders are routed through the National Best Bid and Offer (NBBO) and not internalized by abusive market-makers. By exposing these orders to fair and open auctions, the proposed rule will create a more competitive market, leading to better price discovery and improved execution quality for individual investors.Moreover, the proposed rule will also promote the overall fulfilling of the law of demand-supply, which is the cornerstone of capital markets. By requiring competition for the execution of marketable orders, the proposed rule will encourage market participants to offer the best prices, leading to increased liquidity and more efficient markets.Overall, the proposed rule will benefit investors by promoting a fair and competitive market environment, which will enhance price discovery and improve execution quality. By ensuring that retail orders are routed through the NBBO and not internalized by abusive market-makers, the proposed rule will help to prevent potential conflicts of interest and promote transparency in the financial markets.In summary, I urge the Securities and Exchange Commission to adopt the Proposed Rule to Enhance Order Competition. This important regulatory measure will ensure a fair and competitive market environment that promotes price discovery, fulfills the law of demand-supply, and ultimately benefits individual investors.