From: William G. Salter [wsalter@valueimprovement.com] Sent: Monday, March 22, 2004 4:07 PM To: rule-comments@sec.gov Subject: S7-10-04 - Request to Testify: NMS Re: File No. S7-10-04 Subject: NMS Dear Mr. Katz, Value Improvement Associates hereby requests to testify to the Commission regarding the above referenced file and subject, on April 21st in New York. We have previously been asked for and provided input and commentary on market regulation by Commissioners Glassman and Atkins. We will submit a summary of our proposed testimony under separate cover. Thank you for your consideration. Sincerely, William G. Salter Managing Director Value Improvement Associates, LLC 44 Wall Street, Suite 1234 New York, NY 10005 212-292-4453 phone 212-461-2223 facsimile www.valueimprovement.com