October 16, 2021
I believe that this rule will not at all make markets more secure for retail investors, and instead can be used as a tool for financial institutions to manipulate the market as needed. Shutting down a market for any period of time is detrimental to all investors, retail or institutional, and will do nothing to make markets safer. This is a similar tactic used by Robinhood and other brokers to disable the buy button during times of extreme volatility to protect themselves. Between having other exchanges and also allowing dark pool exchanges to continue during these shut downs, this will only hurt retail investors and anyone who does not have access to such methods. A free and fair market must always be allowed to function for everyone, and if volatility occurs because of poor decisions by institutions, then they must face their consequences without manipulation from the government in their favor.