Subject: Comment for File No. SR-IEX-2025-02
From: Kerry Day
Affiliation:

Jul. 18, 2025

I am an individual investor. 
PFOF Brokers and Wholesalers do not represent my interests in any form or fashion ! 
There are Brokers that place deposits on a set of Securities on hold for 7 days that they've deemed "High Risk" when those deposits have clearly settled ! 
This activity alone is clearly put in place to protect themselves ! 


Best Regards , 




Kerry Day 

Superintendent 


[REACTED]