Subject: File No. S7-08-09
From: David G McDonald

June 15, 2009

I think the best way to do this effectively would be to get rid of penny spreads and let them widen out to levels sufficient to encourage market makers to risk their capital to maintain orderly markets with some depth when large volume trades are placed. Their is currently no incentive for firms to take the risk when it is unprofitable. This enhances speculators ability to manipulate prices. This would allow the old style uptick rule to have some teeth in it and dampen volatility for the benefit of all...........