Subject: File No. 10-222
From: Binoo Goswami
Affiliation: Individual investor

January 24, 2016

Dear SEC,

Thank you very much for the provision of submitting comments by general public at large. We all realize that we are living in a fast paced electronic age and transactions via exchanges happen real fast.

I am still fascinated, rather perplexed about the sliding nature of bid/ask offer soon after entering a limit buy order to be a mid point of a bid/ask offer. I have consistently noticed that soon after (within seconds) entering my limit buy order, upon checking the status of my order, the bid/ask order has changed and my limit becomes the bid price forcing me to adjust my limit order to a higher asking price giving the brokerage a better price to sell it to me.

This highly suspicious, bait and switch practice of constant and instant rearrangement of bid/ask offer in brokerage's favor (irrespective of market diirection, and brokerage firm using a lame excuse that this is due to market volatility) is quite manipulative and is worse than a fish market. It really feels like a raw deal when attempting to seek a fair price at the exchanges rather than at the mercy of our brokerage dealer. I am rapidly losing faith in the electronic system as an individual investor. A little bit of scaling is understandable but changing instantly one's limit buy offer to become a 'bid' seems like an blatant manipulation in broad day light for everyone to see . This practice needs to be stopped once for all.

In light of the aforementioned self-experienced observation of bid/ask manipulation by my brokerage (I suspect other brokerages are also involved in this malpractice and fleecing investors), I strongly recommend that the new exchange system IEX be approved for fair and equitable trading for simple-minded, hard-working, small and independent, individual investors like myself.

Thank you very much for your kind consideration.

Sincerely,

Binoo Goswami