Subject: File No. S7-14-08
From: Cameron E Biberdorf

October 13, 2008

I would highly encourage the ruling to be that Index products SHOULD be regulated like a security...In my opinion it would then hold the rest of the industry up to the same standards as all of those that are securities licesned. I feel that for those that have an issue with it being regulated they are probably at a place where they are unable to pass the test or they may have issues that will not allow them to be securities licensed and that in itself tells a story of why they have a problem with the proposal.