Subject: File No. SR-NYSE-2011-55
From: Kevin Basic
Affiliation: Proprietary Trader

November 28, 2011

I'm sure the idea behind bringing more volume is to provide not only more business but liquidity as well,,, but, when the markets do a steep ascent or descent, does it actually provide liquidity or diminish it?
I think if you go through with your pilot program and it's exercised during times of high volatility, it will be a hindrance to every day traders. I understand you can not turn it off and on like a faucet but maybe during times of low volatility, it won't matter much. During times of high volatility, it will make it aggravating to us "humans" who provide liquidity while earning a living...