Subject: File No. S7-10-04
From: Michael Witucki

January 18, 2005

Dear Chairman Donalson,

I am writing concerning the SECs proposed Reg. NMS which is designed to update and strengthen the U.S securities markets.

The U.S. equity markets are the strongest in the world. The Consolidated Limit Order Book CLOBprovision should be rejected as it has been in the past. The adoption of the CLOB proposal would not benefit our markets.

I support the Commission for its efforts in considering market improvements. However, this provision should be rejected as it reduces market competition and would not benefit the investor.

Thank you.

M. Witucki