March 19, 2007
In light of the recent devolopments of March 15, 2007 ICE's tender offer for the CBOT, this entire rule filing may be moot. Especially since the centerpiece of the ICE offer is protection of the exercise right because CBOT would become the successor exchange for purposes of CBOE's tardy attempt to extingush it here. Therefore, at minimum the SEC should stay further deliberation of this matter and wait until the Delaware Chancery Court has decided its jurisdiction. Since the SEC has posted letters from March 13 and 15, I ask the same consideration for this dynamic situation. Also, because of being previously rejected for the wrong format, I ask that the attached amicus brief filed in the U.S. Supreme Court by current CBOE members, including a CBOT exerciser on this issue be accepted with this acceptable format.
With respect to the comment letters in support of CBOE on February 25 authored by former CBOE Vice Chairman Larry Blum and CBOE lessors committee member Steve Fanandy on February 20, their actions contradict their words. Both are members of CBOT and immediately prior to the CBOT's filing of their August 23, 2006 lawsuit against CBOE, with perhaps that advanced knowledge, liquidated their CBOE memberships on August 15 and August 22, 2006 respectively, with seats losing their value by hundreds of thousands within two weeks of their being the last two sales preceding litigation.
By Fanady's own admission he states on March 4, 2007 at 8:18PM on the CBOE putsNcalls server:
"I am referring to the dialogue last April where you accused ME of divulging confidential information on pNc,.....I will let the record speak for itself, its on pNc, you accused me, and you did not deny my charge that you infact had already put confidential information on pNc violating your confidentiality agreement you take to serve on the lessors committee."(Attached File #1: mspiegel6883.pdf)