Subject: File No. S7-11-10
From: Paul Drescher
Affiliation: Registered Principal, Foothill Securities, Inc.

May 28, 2010

I enthusiastically support the SEC's proposed requirement for a more robust audit trail. High frequency traders, high volume derivatives traders, and firms employing programmed "black box" trading present the greatest risks to stability in the securities markets. In order to contain market volatility there must be a series of regulations in place, like circuit-breakers, and there must be an audit trail mechanism to locate and penalize the violators of the regulations.