Subject: File No. S7-24-15
From: Niels Andersen

February 29, 2020

I've been trading different leveraged bull bear ETF's over the past 3 years.
I'm trading using technical indicators after extensive tests, normally only holding a position for a few days to a few hours.
I'm very much aware of the risks and therefore only holding my positions for a short period and closing my positions the moment I receive a technical signal to sell.
One way of limit use, could be to ask the investor to confirm that he/she are aware of the nature and risk of these instruments.
Best wishes
Niels Andersen