Date:    01/29/2000  10:54 PM

Subject: File numberSR-NYSE-99-47


Concerning NYSE Rule 431: Making minimum margin requirements larger will 
have a adverse effect. Because inexperienced traders will just have more 
to lose. I speak from experience! When I first started with 28000.00 I 
lost most of it. Now after much research and education I have made a 
better thought out plan for trading securities. The key here is 
education, not amount of money. If you really want to help the small 
investor then it would be wiser to not let any one with no experience 
trade with more than 5000.00 or less for the first  two or three months 
until they start to learn all the ins and outs of the market. In my 
humble opinion this would be a much more positive approach. Thankyou, 
Gary Swartz