BMO NESBITT BURNS SECURITIES LIMITED

Mr. Jonathon C. Katz
Secretary
Securities and Exchange Commission
450 5th Street, NW
Washington, DC 20549

Re: Reference SR-BSE-2002-15

Dear Mr. Katz:

We are writing to communicate our support for the Boston Option Exchange (BOX) application that is currently under consideration. We believe that the BOX platform has a number of features that will be advantageous to investors and the market.

The BOX enables all market participants to compete on a level playing field. We support this view and believe that active and eager participation by the broadest number of investors is the best way to create deep and liquid markets. With a transparent trading model, electronic execution, lower costs, and minimal distinctions among trading participants, the BOX market model will be an advantageous way to trade options.

We believe another advantage of BOX is the membership structure that will attract a large number of liquidity providers. More competition should result in tighter spreads and deeper markets, which will benefit all market participants trading options.

Overall we believe that BOX will improve the quality of the options industry and for this reason ask that you give positive consideration to this application.

Yours truly,

BMO NESBITT BURNS SECURITIES LIMITED

Eric Tripp
President