Subject: File No. S7-19-07
From: Robert Callahan

August 13, 2007

The OMM exception is being abused beyond all reason. It's original purpose has been subverted. It's hard to have confidence in a market where such blatant manipulation happens, and nothing happens to the perpetrators.

Reg Sho up to this point is a failure. Please eliminate the OMM exception and restore some confidence in the markets.