Bachus Hensarling Letter to Schapiro, and Our Comments.

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August, 2010

This morning we awaken to find the Bachus/Hensarling August 24^th 2010 letter to Mary Schapiro in our inbox, which we include as an attachment for you to read. Ever since the HFT industry formed their own lobbying group in Washington DC a few months back, we have expected a letter like this to surface. We certainly have expected it to surface given the recent anti-HFT media attention post May 6^th. Please allow us summarize their letter for you.

“In 2008 markets functioned exceptionally well. High Frequency Trading is beneficial to all. We all benefit from their liquidity. If it goes away

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