Mar. 26, 2023
March 26, 2023 Brokers should not be prioritizing sending orders to Citadel/Virtu. That's not an open market. Orders should go through a public auction which allows everyone including pension funds to have equal opportunity to fill the order. The new rule removes the middlemen from the market which will improve prices for everyone. This rule will allow the SEC to ensure fair competition by reducing monopolistic behaviour and removing profiteering middlemen from the market. The SEC should investigate conflicts of interest among market participants to ensure that participants can objectively review the rules. Enforcement of SEC rules needs to be improved with higher fines to serve as a significant deterrent for breaking the law. I fully support the new rule for Order Competition.