Subject: File No. SR-NASDAQ-2006-040
From: Kelly A Richards
Affiliation: Marketing Director, Inforte

January 24, 2007

Dear Sir or Madam:

I am writing in opposition to the amendment filed by NASDAQ on January 16 to its proposed listing fee increase. I strongly feel that there is an inherent conflict of interest that exists when a regulator is allowed to sell commercial services to the companies it regulates. While this amemdment has removed the bundling of communication services, still the amended rule will result in NASDAQ's listed issuers supporting its commercial ventures that have nothing to do with running a stock market.

Kelly Richards