Subject: File No. JOBS Act Title I
From: Tony J Gagliano

September 1, 2014

This pilot program is a must. Should have been done years ago. Five cent spreads ( with no midpoint ) trading will greatly enhance participation and volume.
It will also drastically increase depth of market on the bids offers.
Its a fair and orderly way to trade stocks. The current penny increments only serve those with HFT programs that front run every single investor or trader not privy to co-location access or high speed advantages.

Try to bid for any stock now.. The HFT players use your bid or offer to scalp the market thousands of times per second.

The five cent trading increments will provide coverage and raise capital for small cap stocks across the board as well as add much needed jobs in this decimated industry.

lets see where all the volume goes when this pilot program starts. How can anyone be against a pilot program? The control groups in the program cover all trading scenarios.

I as an individual investor and trader applaud the SEC's action in this matter.
Most of the successful stock exchanges trade in multi - tier price increments.

Thank you.

Lets make the U.S exchanges the best in the world again, not the casino it has become that only serves the very few who take advantage of the current situation.