Subject: File No. S7-08-08
From: Frank Mucklo

April 27, 2008

In an age of nano second trading why is it that short sales are reported only twice a month? Why aren't short sales indicated on the ticker? This could easily be done with a superscripted "s" on the trade or a particular trade color. With hedge funds shorting and covering thousands of shares each day there is now way to know what is going on and even if the shorted shares were ever borrowed. We need market transparency. The fact that short sales are hidden from view gives an advantage to the shorters. It's time to clean up this mess. Give us transparency in these electronic markets. Ban the cheaters.