From: LPinkus [lpinkus@dc.rr.com] Sent: Wednesday, September 03, 2003 7:50 AM To: rule-comments@sec.gov Subject: Re: BOX - SR-BSE-2002-15 I think that the introduction of BOX will be of great benefit to public customers because there will be price improvement over NBBO. Also, because customers may participate on both sides of a PIP, there will be more customer-to-customer trades. We believe that all of this will make the effective spread you pay, and with that your total transaction cost for trading, diminish. Sincerely, Larry Pinkus