Subject: File No. SR-CBOE-2006-106
From: marshall spiegel
Affiliation: Retired equity member CBOE and CME

May 22, 2007

Reference is made to the March 19, 2007 submission by CBOE counsel Mike "Meyer". Recent devolopments require rebuttal to his notion that CBOE's rationalizations for delaying the Delaware Chancery Court proceedings were with merit.

As shown by the attached correspondence, quite the opposite seems to be true. CBOE has pursued any opportunity to prevent all its current, including but not limited to CBOT exercisers, or former members to exercise their due process rights to seek redress.

The issues that I'm currently demonstrating, may be resolved by the Delaware Chancery Court and may not be the subject of these proceedings. But the SEC should not be misled into believing the CBOE has acted with "clean hands" in trying to drag out the Delaware Chancery Court proceedings, set for May 30 in hope for an early premptive resolution here.

CBOE's self-serving conduct in this regard is illustrated by the May 6, 2005 letter signed by General Counsel Joanne Moffic Silver, which I appended to these proceedings on April 12, 2007.

(Attached File #1: cboe2006106-142a.pdf)
(Attached File #2: cboe2006106-142b.pdf)
(Attached File #3: cboe2006106-142c.pdf)