Subject: File No. S7-24-15
From: Paul Yale

March 11, 2020

I have used leveraged and inverse funds (etfs and etns) on several occasions and have found them to be invaluable tools for not only trading, but also investing in the medium term by buying or selling shares on an incremental basis at certain, pre-determined pricing levels. These tools should DEFINITELY be available to the individual, retail investor, not just reserved for institutional investors, hedge funds and the like. Let's keep the playing field level for all investors.. It's the American Way