Mar. 31, 2023
I support the SEC's Order Completion Rule. Faith in U.S. markets in quickly declining, and people are catching on to the fact that the markets are neither free nor fair. Payment for order flow creates a significant conflict of interest for the organizations/companies using it, and has rightfully been banned in other countries for this reason, as it should be banned in the U.S. as well. This combined with alternate trading systems, such as dark pools, solidifies the fact that best price execution - particularly for household investors - remains a pipe dream. Orders do need to go through a public auction, where all applicable parties have an equal opportunity to fill the order. Increasing competition for market makers would be good, and would promote efficient and best price order execution. Fair competition is essential, and the Commission must ensure fair competition - by implementing rules that make dark markets transparent (or non-existent), by enforcing improved and stronger rules that actually deter breaking the law, and by holding responsible the parties who are guilty of breaking the law with more than a fine that simply becomes an expense line item. This rule would help to create fairer markets, especially for household or individual investors who simply do not have access or resources that the larger institutions have. Thank you.