I want to echo the Chair in thanking the staff that has worked on this proposal, including Ted Venuti, Arisa Kettig, Steve Kuan, Amir Katz, Chris Grobbel, and Andrew Sioson from the Division of Trading and Markets, and Amy Edwards, Hans Heidle, Shawn O’Donoghue, Lauren Moore, and Hermine Wong from the Division of Economic and Risk Analysis. I also want to acknowledge the hard work of those in the securities industry that have been working to improve transparency in our equity markets.[1] Some market participants have voluntarily adopted policies and procedures to provide more meaningful information about order routing and execution to investors. I appreciate these efforts, and they have helped to inform today’s proposal.
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