Subject: File No. SR-NASDAQ-2006-013
From: Rolf Arands

December 21, 2006

I am disappointed to hear about this charge for quotes. Having quote data available to all would increase trading business, I would think.

Clearly, the exchanges are being bought out by the institutions and large traders to the detriment of the individual investor, similar to how banks have been trying to tack on more fees and hidden charges at every turn. It is truly disappointing.

This also sets a dangerous precedent, where all the exchanges will soon follow suit, and soon there will be more fees and charges showing up at every turn and in every place, again to the detriment of smaller investors and to the gain of the wealthy.

The exchanges make plenty of money. This just smacks of greed gone mad. I do hope the judicial and regulatory systems intervene and stop this precedent before it spins out of control and soon my investments are costing me more and more to own.