Chairman of the Securities and Exchange Commission Gary Gensler He said he has asked agency employees to ask brokerages to place orders from individual investors to buy or sell stock at auction as part of an effort to increase competition in the market.
The potential change would represent a major turnaround for the lucrative business of executing trades in the stock market. wall street journal reported on Monday That plan is under consideration. It will aim to “assuring perfect competition among all market participants to provide the best value for retail investors,” Gensler said in prepared remarks for a speech at the Piper Sandler Global Exchange & Fintech Conference in New York on Wednesday.