Subject: File No. SR-DTC-2013-10
From: Sheila Waddell

September 2, 2013

I support the Commission's Proposed Rule Making regarding the termination of the Sealed Envelope Service. Mitigating any risks would promote transparency and integrity in the markets, provide a seamless transition in clearing and settlement services, decrease settlement fails, enhance internal controls and dissemination monitoring of financial activity. It would also mitigate existing conflicts of interest among participants, their investment advisor affiliates and financial correspondent non-affiliates. The decision not to support this PRM would not only increase existing risks, but also create new risks. It places undue burden and risk on DTC if they have no way of verifying the contents within a sealed envelope. They're relying on someone's integrity, which is rare these days. Markets reek of price manipulation as it is. The termination of the sealed envelope would, I feel, enhance the CIP/KYC (Customer Identification Program/Know Your Customer)

Thank you
Sheila Waddell