Subject: Comment for File No. SR-IEX-2025-02
From: Matthew Davis
Affiliation:

Jul. 10, 2025

I am an individual investor. PFOF Brokers and Wholesalers do not represent my interests. 


Payment for order flow brokers have always exploited retail and individual investors whether it's directly through large investment firms, or 'applications' like Robinhood. 


PFOF brokers are nothing but exploitative middlemen and do not represent my interests, nor do they protect them. 


Matthew D.