From: Alistair Brown [abrown@limegroup.com]
Sent: Monday, March 22, 2004 4:38 PM
To: rule-comments@sec.gov
Subject: Request to Testify at Regulation NMS hearings, File No.
S7-10-04

March 22, 2004


Jonathan G. Katz
Secretary
Securities and Exchange Commission
450 Fifth Street, NW
Washington, DC 20459-0609


Re:	Request to Testify at Regulation NMS hearings, File No. S7-10-04


Dear Mr. Katz;


I would like to request the opportunity to testify at the upcoming hearings
relating to Regulation NMS, Commission File No. S7-10-04, at either the
Washington, DC hearings on April 1, or the New York, NY hearings on April 21. I
am a Managing Director at Lime Brokerage LLC. Currently Lime Brokerage regularly
executes over 150 million shares per day, which is a significant percentage of
US daily equity trading volume. We are affiliated with Tower Research Capital
LLC, which has already requested an opportunity to testify on Regulation NMS. My
testimony will be complementary to Tower’s proposed testimony. My comments,
given to me by multiple clients, are in regard to the practical issues that
Regulation NMS raises for a broker/dealer.

I would like to testify primarily on the proposal to expand the trade-through
rule beyond the NYSE and AMEX. The proposed designation of fast markets versus
slow markets will not solve the issues my clients or the general investing
public currently experience when attempting to trade these listed securities,
and the extension of the rule to other market centers is likely to slow down
efficient markets such as ECNs without further rulemaking and intervention by
the SEC to mandate response times from market centers.  I will file a more
detailed summary of my testimony by March 26th.

If you have any questions, please call me at 212.219.6082 or you can contact me
via e-mail at abrown@limegroup.com.


							Sincerely,


							Alistair Brown
							Managing Director
							Lime Brokerage LLC