The Security Traders Association (“STA”) appreciates the opportunity to provide comments in
response to the aforementioned proposal (the “Proposal”)2 published by the U.S. Securities and
Exchange Commission (“SEC” or “Commission”). STA is an organization comprised of individuals
who are involved in the trading of financial securities in the U.S and Canada. Our members are
employed at retail brokerage firms, agency only broker dealers, asset owners and managers,
liquidity providers and exchanges.

Read the full letter here.