Mar. 31, 2023
I support this rule change. I want to address some key points regarding proposed rule changes by the Securities and Exchange Commission (SEC). The enforcement of SEC rules is crucial, and higher fines need to serve as a real deterrent. It's not enough to impose fines that are merely a cost of doing business, which can be outweighed by the gains obtained through dishonest practices. Therefore, I fully support the rule and urge its implementation as soon as possible. Efforts to reduce the speed games that damage the integrity, credibility, and functioning of American markets are vital. Inducements and farming of individuals’ orders for rebate money should also be reduced. Routing orders through a wholesaler that then passes them to the auction can be unnecessarily complex and give the wholesaler an unfair advantage over other market participants. To address this unfair advantage, the Commission should have brokers first route to the auction and specify where the order should go if the auction is unsuccessful. That way, the entire market has equal knowledge. I support rule changes that bring more transparency to dark markets, such as the requirement for dark pools (Alternative Trading Systems) to provide quotes and trades to consolidated market data if they wish to operate as an auction. Investors should have easy access to information on what is happening within the markets. Fair competition is incredibly important. The Commission has not been enduring fair competition, especially within the off-exchange systems that currently dominate. Monopolies are bad, and clear monopolistic behavior exists within the market. The state of American markets is anti-competitive, and this needs to change. This proposed rule is an essential step in that direction. Sincerely, Jordan Manntz A Fair Market Activist Jordan Manntz Manntz Investigations, Owner