As a broker in the IPv4 space, I support 2012-05 100%. We need transparency in transaction pricing. Otherwise there will continue to be black markets and unscrupulous operators. I view my job as finding buyers to match sellers and finding sellers to match buyer needs. Just as in stock markets, commodity markets, and housing markets, IPv4 markets require open pricing. Only then will most people give this market legitimacy and most of the devious behaviour go away. Further, other RIR policies need to morph to support open-ness. For example, RIR's should not reclaim unused IP's now that they have value. Global barriers to trade (think inter-RIR transfers) have to come down so that prices in one part of the world are not different from other parts. Although this is a little off-topic, the use of needs justification is a huge barrier to honest and open trade (as per Milton's workshop in Baku earlier this week). Companies are doing some very creative things to avoid the RIR justification process and as a result the registries are getting less accurate, and the RIR's spout community credos rather than really look at the problem. The good news is these problems should be gone in 50 years when IPv4 is finally replaced by IPv6! Sandra Brown President IPv4 Market Group sandrabrown@ipv4marketgroup.com 716-348-6768 www.ipv4marketgroup.com