Subject: File No. SR-NASDAQ-2006-040
From: Michael P Black
Affiliation: Associate of the Charted Institute of Management Accountants

December 12, 2006

As Principal Financial Officer of a Nasdaq listed company, I am supportive of the proposal. The bundled services give the company an opportunity to avoid costs and there is no compulsion to use the Nasdaq-endorsed services providers for additional services. The magnitude of the proposed increase is modest.