Mar. 29, 2023
In my opinion, some people are using negative tactics like name-calling and scare tactics to resist changes to the financial industry. They may be worried about losing money and bonuses. Unfortunately, current regulations often favor certain companies over others, rather than allowing for fair competition. Many people in the industry, including some who are now opposing change, have been advocating for changes to reduce off-exchange trading for years. However, some of them have given up and joined the opposition. I support the efforts of the Commission to increase competition, reduce intermediaries, and improve the quality of the market. I think a Trade-At rule would be more effective than the retail auction mechanism proposed, but I still support the Commission's efforts. It's important to create a fair, level, and transparent playing field where open competition for order flow can determine winners and losers in markets.