Subject: File No. S7-21-09
From: steven m vannelli
Affiliation: Investment advisor

August 11, 2010

Please follow your thinking and ELIMINATE flash quotes. This process has been a part of market makers for decades until the emergence of High frequentcy Traders(HFT). They, HFTs, have always wanted to have all the benefits of market markers WITHOUT being good for almost any trades. They put forth "stub quotes" which should also be banned.

Its time for the SEC to realize HFTs are "scamming" the system. Flash quotes, stub quotes, naked shorting without committing capital to being a true market maker should be stopped.

Thank You

Steve Vannelli
San Francisco