Subject: File No. SR-NASDAQ-2006-040
From: Jacqueline Borer
Affiliation: Borer Financial Communications, LLC

December 11, 2006

Nancy M. Morris, Secretary
Securities and Exchange Commission
Station Place
100 F Street, NE
Washington, DC 20549-1090

RE: SR-NASDAQ-2006-040

We are opposed to the current proposal presented by NASDAQ to increase fees and bundle services. The NASDAQ proposal would essentially allow them to monopolize the market by increasing their fees and not allow their clients the choice of which EDGAR filing service and newswire provider they wish to use. It would totally eliminate free enterprise and not enhance competition between the financial printing companies as the NASDAQ has stated.

The impact of this proposal would greatly affect many more than reported by the NASDAQ. There are many other companies providing EDGAR filing services besides 3 large financial printing companies referenced in their proposal. Based on the statistics notated in the bulletin, our company produced small percentage of all of the EDGAR filings in the 12 months preceding October 26, 2006. This proposal would negatively impact our company, which is a minority owned and operated business. Our clients choose to use our company because of the excellent and personalized service that they receive. Additionally, they also are entitled to receive tax credits for employing the services of a minority owned business.

In closing, this plan stands to benefit only the NASDAQ. It does not consider the impact on the smaller business owners, nor the companies currently listed on the NASDAQ. We respectfully request that you reject the NASDAQ proposal.


Jacqueline Borer
Borer Financial Communications, LLC