Subject: File No. S7-27-09
From: John Karnes

January 13, 2010

I think that these types of systems should be more tightly regulated and I agree with what the SEC has proposed. I would even go farther to recommend that these trading systems not even be allowed since they have such an unfair advantage over the individual investor.

How can we have a fair system when certain players play by different rules. As an individual investor I am required to use a public system through which I trade. I don't have any advantage over the general public, but I do have a distinct disadvantage when competing against Dark Pools. This is not fair nor equitable and I would like to see the SEC's proposals implemented.