MEMORANDUM

March 7, 2003
TO: Files
FROM: Luis de la Torre
Counsel to Commissioner Goldschmid
RE: Proposed Rule Change by the Boston Stock Exchange, Inc. Establishing Trading Rules for the Boston Options Exchange Facility, Release No. 34-47186, File No. SR-BSE-2002-15


On February 26, Kenneth R. Leibler of the Boston Stock Exchange and Neal E. Sullivan of Bingham McCutchen met with Commissioner Harvey J. Goldschmid and myself, counsel to the Commissioner. Messrs. Leibler and Sullivan generally described the features of the Boston Stock Exchange's proposed new electronic options trading facility, which are set forth in Notice of Filing of Proposed Rule Change by the Boston Stock Exchange, Inc. Establishing Trading Rules for the Boston Options Exchange Facility, SEC Release No. 34-47186, File No. SR-BSE-2002-15 (Jan. 14, 2003).