Comment Text:
Hello,
I strongly believe that the proposal to allow vertical integration of clearinghouses, exchanges and brokers is dangerous, and seeks to make legal structures that, using FTX as a recent example, have been proven to foster illegal activity and self-dealing at the expense of investors.
Markets are healthiest and most fair when there is diversity of interests, and to allow the consolidation of important market functions as proposed would run counter to the purpose of regulatory bodies like the CFTC and SEC, which is to promote fairness and regulate powerful interests that would otherwise rig the financial system in their favor.
Frankly, this proposal is offensive to those who believe in free and fair markets. It should not be allowed.
Eric
