Mar. 26, 2023
Subject: Support for File No. S7-31-22; Release No. 34-96495: Order Competition Rule Dear Sir/Madam, I am writing in support of the proposed Order Competition Rule (File No. S7-31-22; Release No. 34-96495). The current rule that allows brokers to send orders directly to certain internal systems has led to an unfair advantage for certain entities and has prevented other market participants from offering better prices without the involvement of such entities. The new rule that requires orders to go through a public auction allows for a fairer and more transparent market, with equal opportunity for all market participants, including pension funds. I believe that the proposed rule will create a level playing field and promote healthy competition in the market. It will ensure that all investors have access to the same information and pricing opportunities, and will prevent any one entity from exerting too much influence or control over the market. While I understand that some entities may lose money, data, and influence as a result of the new rule, I believe that the goal of creating a fairer and more transparent market is more important. I fully support the proposed Order Competition Rule and encourage the SEC to move forward with its implementation. Thank you for your attention to this matter. I have submitted this email as my comment on File No. S7-31-22; Release No. 34-96495 to rule-comments@sec.gov with the correct title entered into the subject header. Sincerely, Karl Yip