Dear Sirs:
     
Our current bid ask spread on the Nasdaq at 11:18am July 22, 1996 is bid 7.75 
ask 10.00.   We are the Nadaq NMS.  We have many complaints from shareholders 
about trying to buy or sell the stock.   While Naqcess attempts to address 
some of the problems we feel that the entering of orders into naqcess should 
be mandatory.

You can't possibly expect the retail investor to be aware of the choice nor 
understand it.  All orders should be treated as an electronic auction 
market.  We also think that the bid size and ask size should not be limited 
to 1000 shares or 2000 shares.  If there is a 10,000 share buyer or 50,000 
share seller the market place has a right to know about it.      
     
I would not eliminate SOES.  If you are than make the market makers buy 1000 
or sell 1000 as situations require.
     
Thanks,
     
     
     
James J. Hughes
     
VP
TSR, Inc  (tsri)
400 Oser Avenue
Hauppauge, NY 11788
     
516 231 0333