Mar. 27, 2023
March 27, 2023 RE: File Number S7-31-22 As in individual investor, I would first like to say that I applaud the SECs efforts to bring about reforms in our capital markets. In order to truly promote order competition, I would like to see all orders directed to lit exchanges with no exceptions and no possibility for internalization. Eliminate dark pools, failure to deliver (FTDs), payment for order flow (PFOF), naked short selling, and the ability for market makers to effectively generate infinite liquidity (infinite supply skewing the supply and demand curve). I understand that routing all orders through lit exchanges would pose challenges to some market participants current business models and probably end commission free trading. I would rather pay a commission and have true price discovery than have market orders internalized at the whims of some market participant, hampering true price discovery. As far as the rule proposal as written, I think that all rule exceptions should be eliminated from the proposed rule. Sincerely, Edward Lynch