Author:  Steven Weil
          Date:    8/1/98  9:43 AM
          
          Subject: File No. 4-208;Comment on Proposed 34-40260;RIN3235-AH49;ITS
         
          For what it's worth, a blunt, bottom-line comment from a small investor: ITS
          appears to be nothing more than a cartel agreement for facilitating
          internalization of order flow and 'upstairs' type block trading. The criterion
          which I use for judging the ITS system is very simple:
          Is OptiMark a full participant? Yes or No.