August 8, 2006
Nancy M Morris, Esq.
United States Securities and Exchange Commission
Re: File No. NYSE 2006-46 Proposal to revise equity transaction fees.
Dear Ms Morris
I strongly urge you not to approve this proposal. I believe these fees to be unfair and unjust.
I have been an independent floor broker on the NYSE for 16 years. Our firm, Lombardi and Co. Inc., for more than 30 years. We execute trade of varying types, buy-side, sell-side, non-member broker dealers, pension fund, etc.
If this new fee proposal was to be approved my transaction cost will increase by 37% or $46,000. Either way it is a very subsantial amount. This increase will put our firm in financial peril and vey well might force this firm out of buisness altogether.
This firm has been providing a valuable service to its customers for many years and would like to continue to do so. Please help us and do not let the NYSE force the independent broker community out of buisness by applying such an outrageous increase in fee structure.
Vincent Costa Jr.
Lombardi and Co. Inc.