The Nasdaq Stock Market Inc. and Instinet have written a joint letter to the leadership of the U.S. Congress with recommended principles for strengthening the U.S. equity markets and delivering greater value to investors.

The letter outlines regulatory barriers faced by modern markets, and it suggests changes. The letter states, “…we strongly believe that there is an historic opportunity to overhaul and reform today’s regulatory regime to better harness the benefits of competition and innovation on behalf of investors.”

The joint letter also stated, “Investor interests are best protected by promoting an environment in which competition, fair and equal regulatory oversight, and disclosure requirements combine to assure that brokers fulfill their duty of best execution for their retail customers.”

In a speech last week before the Securities Industry Association Market Structure Conference, Nasdaq president and CEO Robert Greifeld said, “The responsibility to rebuild investor confidence and trust falls squarely on all of us. A key way for us to effectively fulfill this role is to modernize and improve our market structure in a way that benefits investors and the overall economy.”

Greifeld said, “I suggest we should be doing more to take advantage of the ways an electronic system can improve execution. In today’s environment, with competitive markets, we should not let the slower market centers hold up the entire market or limit choice. Investors deserve choice. Exchanges that meet the needs and choices of an investor more quickly should be permitted to trade through quickly.”