Mar. 31, 2023
I am in support of the Order Competition rule. Internalization has to come to an end as it does not promote competition and is extremely unlikely to help price discovery. I agree that orders need to go to public auction where everyone including pension funds can fill all orders Payment for Order Flow (PFOF) has been banned in Europe and other countries and needs to be banned in the United States. Dark pools (Alternative Trading Systems) need to provide quotes and trades to consolidated market data to bring more transparency to dark markets. We need to remove the parasitic middlemen to improve price discovery for both individual household investors and institutions such as pension funds. This rule should be implemented as soon as possible. The SEC needs to administer higher fines and jail time to stop bad actors from treating fines as a cost of doing business. Thanks, A concerned household investor.