Jul. 19, 2025
I am an individual "retail" investor, trading in my personally managed brokerage account for over 20 years. I am writing to voice my serious concern regarding the recent letters submitted by Citadel, IMC, and Schwab to the SEC relating to IEX's newly proposed options exchange. PFOF Brokers and Wholesalers do not represent my interests, or any retail interests for that matter. It is appalling to read their assertions that they represent retail's interest with the inherent fundamentals of PFOF in mind. Stating they are acting in retail's best interest by advocating against transparent solutions such as IEX and attempting to stifle free market competition is a blatant manipulation of facts that are publicly available. Observing the mechanics of market makers, fail to deliver data, CAT errors, publicly available penalties and fines by all three firms at a disproportionate cost to retail investors- IN ADDITION TO the fundamental nature of PFOF- makes it abundantly clear that these three firms' appeals to the SEC are in bad faith and should not be taken into consideration when evaluating the value proposition of IEX's proposed exchange. Thank you for your time and consideration Matt Walsh