Subject: File No. SR-ISE-2007-37
From: Gerald Schneider

August 27, 2007

Dear Sir or Madam,

Again, the SEC has failed as a regulatory body. Your job is to protect the public. ISE,CBOE and PHS charges are being passed on to the customer not the EAM clearing firm. Why does the SEC allow payment for order flow? Why is the CBOE charging its own members if they cancel more than 1 million orders a month. My cancel numbers are nowhere near that number per each trader either member or non-member. Which therefore concludes the ISE, CBO and PHS are making erroneous claims. A federal class action suit will be filed in the Northern District of Illinois soon. We have many laws in our country. Some of the bigger laws are discrimination, restraint of trade and collusion. It is apparent that the SEC has emphatically disregarded these laws. Looking forward to hearing the comments from Mr. Cox regarding after the suit is filed.

Gerald Schneider
Highland Park, IL