From: LPinkus [lpinkus@dc.rr.com]
Sent: Wednesday, September 03, 2003 7:50 AM
To: rule-comments@sec.gov
Subject: Re: BOX - SR-BSE-2002-15

I think that the introduction of BOX will be of great benefit to public 
customers because there will be price improvement over NBBO. Also, because 
customers may participate on both sides of a PIP, there will be more 
customer-to-customer trades. We believe that all of this will make the 
effective spread you pay, and with that your total transaction cost for 
trading, diminish. 

Sincerely, 

Larry Pinkus