Mar. 22, 2023
The SEC Order Competition Rule, file No. S7-31-22, is an important step towards promoting fair competition and transparency in the securities market. The rule is aimed at increasing competition among broker-dealers, which is critical for ensuring that investors are able to obtain the best possible prices when executing orders. By requiring broker-dealers to publicly disclose information about the quality of their order execution practices, the rule will enable investors to make more informed decisions about where to direct their orders. This transparency will help to level the playing field for smaller broker-dealers, who may have previously been at a disadvantage due to their lack of access to information about the order execution practices of larger firms. In addition to promoting competition, the rule will also help to improve the quality of order execution practices across the market. By requiring broker-dealers to regularly monitor and assess their order execution practices, the rule will encourage firms to make improvements and adopt best practices. This will benefit investors by improving the speed and reliability of order execution, as well as reducing the likelihood of errors or other issues that can negatively impact investor outcomes. Overall, the SEC Order Competition Rule is a positive development for the securities market. By increasing transparency and promoting fair competition, the rule will benefit investors and help to ensure that the market operates efficiently and effectively. Thank You, Kyle Kamstra