Subject: File No. 10-222
From: Mark Demos, MBA
Affiliation: CEO

December 16, 2015

If the SEC believes trading of stocks and other securities should be fair, transparent, and neutral through the exchange, then I urge you to approve IEX to become an Exchange with a protected quotation. You can't have it both ways, which is what the high-frequency traders want.

Thank you,

Mark Demos