Subject: File No. S7-10-04
From: john c. russell

May 4, 2004

i am writing to express my deep concern over the proposed changes to the trade-through family has been associated with the securities for the past 70 years.never has the sec proposed a rule that would put the small investor at a disadvantage with the large institional firms in attempting to buy and sell securities on the natioal market is not the time to start tinkering.what sense would it make to enter a limit order if you allow certain situations where best bid or offer would be meaningless.the best price principle has served our country,s investors well for many years now.all orders compete on the same level playing field. to change this would send a terrible message to the small investor.with all that is going on with enron world com etc. now is not the time to favor large investors over small doing so would send a terrible message to the small investor.thank you for all the hard work the agency does to help protect the small guy.