Feb. 8, 2024
We are writing to express our concern s regarding the proposed rule change (SR-OOC-2024-001-34-99393), which we believe could have a significant negative impact on retail traders and investor. The proposed changes could lead to an increase in market manipulation, as it would make it easier for large institutional investors to manipulate the market potentially at the expense of retail investors. This would create an unfair playing field and put retail at a disadvantage. Additionally, the proposed changes could reduce transparency in the market, making it more difficult for retail to make informed decisions about their investments. This lack of transparency could also make it easier for large investors to take advantage of retail investors. The proposed changes could also result in increased cost for retail investors, as they may need to pay more for access to market data and other information that is currently available for free or lower cost. This would make it more difficult for retail investors to compete with larger institutional investor. Finally, the proposed changes could reduce competition in the markets, as smaller market participants may be unable to compete with the larger institutional investor. This could result in less choice and higher costs for retail. In conclusion, we believe that the proposed rule change could have a significant negative impact on retail traders and investors. We urge the SEC to carefully consider the potential consequences of the proposed changes and to take steps to ensure that the interests of all market participants are protected. Sincerely David Portela