Subject: File No. JOBS Act Title I
From: Lowell C Wickman
Affiliation: Retired

February 8, 2013

I remember 30 years ago that the spread on many stocks was 25 cents. Today the spread is often .3% or less. For a $10 stock its often 3 cents. This is a real advantage to small investors.

Its the big guys that want the professional market makers back. Us small guys have never had it so good.

I am opposed to having minimum spreads above 1/10 of one percent. Having higher minimum spreads allows the market makers to take the cream off of every transaction.

I know there are problems with the dark pools. I would suggest that instead of bringing the market makers back that you remove the special ruleds that give dark pools an advantage over everyone else.

1) People should have the right to hide the volume of their orders from the dark pools but not the bid or ask.
2) Limit orders that sell at above market, and buy at below market should be the only orders with kickbacks for providing liquidity. Market orders should not get kickbacks.
3) Orders that jump ahead of the visible limit orders should not be allowed.