Subject: File No. SR-NASD-2007-023
From: Gary L. Flater
Affiliation: CEO

April 12, 2007

It is my recommedation that the SEC stop the proposed merger and give SRO changes the scrutiny it deserves. Why should 5100+ members have to make changes in advertising, letterhead and signage just to help 180 firms? The $35,000 will not begin to cover the costs.