Subject: File No. S7-24-15
From: Stephen P Johnson
Affiliation: Individual Investor

January 10, 2016

As an individual investor I like having the option to use ETF's for leverage in the Market. I currently trade Direxion inverse ETF's and there website has a very good tutorial on the use and risk associated with X leveraged ETF's. I understand your concern with Aug 15 liquidity and ETF's, just understand as the little guy it's nice having some of the tools traditionally available to the bigger investor as long its on the up and up.