Date:    01/29/2000  6:35 PM

Subject: File Number SR-NYSE-99-47 

Dear Sirs:
     
It is my understanding that you have proposed a rule change increasing the 
minimum amount in a daytrading account from $2k to $25k in order to qualify for 
margin, as well as a proposal  to increase margin to 4:1 from 2:1 for qualifying
accounts.
I object to this change. I am a daytrader and daytrade for a living.  This 
change would not affect me.
I feel that an increase from $2k to $10k would be reasonable so that a sizeable 
investment would be required before a margin would take effect.  $25k is 
unreasonably high and not justified.  The markets need to be open to all 
Americans, not just those with big bucks.  However, some minimal amount is 
necessary to keep the markets more orderly and not let every Tom, Dick and Harry
exposed to huge risk.
Increasing the margin to 4:1 would increase the risk not only to the investor, 
but also to the brokerage house.  It would also increase the volitility of the 
markets unnecessarily. Who is asking for this increase?  I've not heard a big 
clamoring for a margin increase.  Keep it the same.  What is the reasoning here,
makes no sense.  Your job is to protect the investor.  There is no protection 
here, only an increase in risk.  
Please consider my alternatives to your proposed rule change as something 
reasonable as well keeping the American dream alive.
     
Sincerely, 
     
Robert M. Vockrodt