Subject: File No. S7-23-15
From: patricia lemberg
Affiliation: Private Investor Formerly Registered FINRA Retail Broker

June 17, 2016

Please allow IEX to register as an Exchange.

Small investors continue to take on investment risk. We often are armed with far less sophisticated tools, resources and natural acumen or investment abilities. Responsibly, folks continue to strive towards modest retirement income using long term investments as one future resource.

High Frequency Speed Computerized machines programmed to Front Run and push prices are a disruption to this noble concept of retirement as persons age. Investors must be protected- as best as can be managed - by Regulators representing the interests of ALL its good citizens.

Our financial markets need brilliant leaders at this time of "New Normal"... making business and investing work for all good citizens who continue to push hard with a healthy regard for integrity and respect.

Perhaps the "speed bump" solution is not the answer. Perhaps more time could be set aside for an in-depth discussion with "unbiased" university professors contributing thoughtful, fresh ideas for serious consideration to this discussion.

Short of major university intelligentsia contributions - allow alternative investor's exchanges to initiate some much needed protections for citizen's who'd like this very risky landscape to move towards more balance.