Daily Rules, Proposed Rules, and Notices of the Federal Government
Chicago Board Options Exchange, Incorporated ("CBOE" or "Exchange") proposes to amend its Fees Schedule regarding broker-dealer transaction fees for Automated Improvement Mechanism ("AIM") executions. The text of the proposed rule change is available on the Exchange's website
In its filing with the Commission, CBOE included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. CBOE has prepared summaries, set forth in sections (A), (B), and (C) below, of the most significant aspects of such statements.
On December 1, 2008, the Exchange reduced the transaction fee for non-member market-maker orders ("N" origin code orders) executed on AIM from $.45 per contract to $.20 per contract.
The fee discount would apply to B, N and Y origin code orders initially entered into AIM as the contra party to an Agency Order. The Exchange proposes to implement this fee change on February 2, 2009.
The Exchange believes the proposed rule change is consistent with Section 6(b) of the Securities Exchange Act of 1934 ("Act")
CBOE does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of purposes of the Act.
No written comments were solicited or received with respect to the proposed rule change.
The foregoing rule change has become effective pursuant to Section 19(b)(3)(A)
Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods:
* Use the Commission's Internet comment form (
* Send an e-mail to
* Send paper comments in triplicate to Secretary, Elizabeth M. Murphy, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090.