Mar. 31, 2023
I fully support the rule, please implement it as soon as possible. A wholesaler should not get an information advantage against other market participants. Directly sending the order to the auction will even the playing field and eliminate the broken price discovery. This will bring about a fairer and more transparent market. Payment for Order Flow (PFOF) has been effectively banned in the UK due to conflict-of-interest concerns – and this should be the case in US markets too. I would gladly pay more per share to avoid being routed through a wholesaler that has been charged over 70 times by the United States government (https://files.brokercheck.finra.org/firm/firm_116797.pdf).