July 28, 2006
-Jamie E. Friedman Inc.
Member New York Stock Exchange, INC.
40 Wall Street – 32nd Floor
New York, NY 10005
Tel: (212) 747-0755
Fax: (212) 742-1087
Nancy M. Morris, Esq.
United States Securities and Exchange Commission
Re: File No. NYSE 2006-46 Proposal to revise equity transaction fees
Dear Ms. Morris:
I am writing the commission in response to the NYSE proposal to revise the transaction fees on the New York Stock Exchange. I strongly urge you not to approve this proposal.
I have been an independent floor broker on the NYSE for 15 years. I currently have 5 employees working with me. My firm executes trades for various types of customers (sell-side, non-member broker dealers, etc.)
If this new fee proposal is approved, my transaction cost will increase by 325.0% annually (which translates to approximately $ 75,500 annually). This increase will put my firm in financial peril and very well might force me out of business altogether.
I have been providing a valuable service to my customers for 15 years and want to continue to do so. Do not let the NYSE force me out of business because of an unevenly applied and arbitrary structure.
By: Jamie E. Friedman
Jamie E. Friedman Inc., CEO