Mar. 18, 2023
I would HAPPILY pay a commission to a broker per share if I KNEW that my orders were going to the NYSE, not a wholesaler. Wholesalers have an absurd control over securities prices and have interests that are directly contrary to the interests of retail. For example - Commission analysis of CAT data in infra Table 20 found that, on average, 51% of the shares of individual investor marketable orders interlanized by wholesalers are executed at prices less favorable than the NBBO midpoint. FIFTY - ONE PERCENT! That is ridiculous Wholesalers have the absurd ability to let the orders they WANT to go through go to market, while the others get internalized and affect the price in a manner favorable to them. They scalp billions off of individual investors constantly. I fully support this rule, implement it ASAP -- Peter Stout Filmmaker | Photographer | Entrepreneur - Co-Founder @ Acrylic University