February 7, 2022
I approve of the proposed rule S7-32-10 designed to prevent fraud, manipulation, and deception in connection with effecting transactions in, or inducing or attempting to induce the purchase or sale of, any security-based swap. In doing so, this rule should not only apply to retail, but to the Designated Market Makers, and their associated Dark Pools. This is with the hope that transparency, and appropriate mitigative efforts will bring trust back into the market. As of now, the trust is lacking, and I, someone who has ties to IBM algorithm creators, have a reliably strong understanding of the BTS mechanics of the market provided to retailers, and others alike. With this said, I have zero faith in the system we are currently under, as it was not meant to protect the retail investor, and instead protect the idea of what a retail investor is to the Designated Market Makers.
I wish the SEC the best in their endeavour, and hope to see some real frugal change to the system you are policing.
cc:
The Honorable Gary Gensler, Chair
The Honorable Elad L. Roisman, Commissioner
The Honorable Hester M. Peirce, Commissioner
The Honorable Allison Herren Lee, Commissioner
The Honorable Caroline A. Crenshaw, Commissioner