From: David Pincus [dbpincus@comcast.net]
Sent: Tuesday, September 02, 2003 10:13 PM
To: rule-comments@sec.gov
Subject: Re: Boston Options Exchange, BOX - SR-BSE-2002-15

To:    Mr. Jonathan G. Katz, 
       Secretary,
       Securities and Exchange Commission
 
From:  David Pincus

Re:    Formation of the Boston Options Exchange (BOX)

-----------------------------------------------------

Dear Mr. Katz,

I would like to express my support in favor of the formation of the
Boston Options Exchange (BOX), including the provisions for the proposed
Price Improvement Period (PIP). An open-market pricing mechanism such as
the PIP will help lower the spread on all trades and will benefit all
traders. 

I expect that the Chicago Board Options Exchange will be opposed to any
further competition as that would go against their self-interests,
however, I hope that you and the Securities and Exchange Commission will
support the public's interests and not private industry in this matter
and will approve the creation of the Boston Options Exchange.

Respectfully,


David B. Pincus
Maj, USAR (Ret)