Subject: File No. SR-NYSE-2006-46
From: Harold T McCauley

July 21, 2006

Nancy Morris, Esq.
United States Securities and Exchange Commission

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 23 years. I currently have 17 employees working with me. My firm executes trades for varying types of customers(buy-side, sell-side, non-member broker dealers, pension funds, etc.).

If this new fee proposal is approved, my transaction cost will increase by 157%. 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 23 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 pricing stucture.

Respectfully Submitted,

H. THomas McCauley
McCauley Securities Ltd., CEO