Subject: File No. S7-24-15
From: Martin Austin

January 30, 2020

Dear Sir or Madam:

I have been successfully using leveraged and inverse ETF's to build wealth and hedge against losses. I am not aware that the use of such funds has caused any undue financial problems that would warrant interference in an individual's ability to trade such funds in a manner similar to other investments. In fact, I have found that leveraged and inverse index type funds allow an investor to have larger gains without increasing risk by mirroring the performance of large markets, rather than individual industries, while still having sufficient volatility to provide an adequate rate of return. Thank you for considering my viewpoint.