Subject: File No. S7-32-10
From: Anonymous

February 7, 2022

I support the proposal. Nowadays, a retail investor distrusts the stock exchange and notes, that in relation to large institutions, he has very little insight into the actual image of the stock exchange. Which translates into his effectiveness.

Technological progress has had a strong impact on the structure and organization of exchanges, although the legislation on them does not necessarily follow it.

I am aware that any changes require careful checking and understanding of the effects and causes of the sutation. But this does not exempt from the obligation to provide a fair market to which a retail investor would trust.