From: Howard Tasner |
Please consider this comment in my effort to prohibit the Chicago Board Options Exchange ("CBOE") from eliminating the Chicago Board of Trade ("CBOT") Exercise Right. I have exercised the CBOE membership from my CBOT membership since 1976. Since that time I have traded on the CBOE floor as a CBOT exerciser and voted in CBOE elections, as a CBOT exerciser. At no time was I considered or treated as anything but a full CBOE member, as I had the same rights and privileges. I paid the exact same commissions and fees and my vote counted no more or less than any regular CBOE member. I was even issued a CBOE membership badge that was no different than other CBOE market-maker floor badges. There is absolutely no foundation for the CBOE management to attempt to eliminate the CBOT exercise right. The CBOE name was actually derived from the Chicago Board of Trade, whose members established the exchange, and it has existed for over 30 years. For the same 30+ years the exercise right has also existed, and there is no legal or moral basis to discontinue it now. Thank you for your consideration. Howard Tasner |