From: Benjamin Nitka |
DEAR SIRS, AS A FORMER MEMBER AND FORMER BOARD MEMBER OF THE CBOE I, AM DISAPPOINTED THAT MY EXERCISE RIGHT HAS BEEN TERMINATED UNILATERALLY BY THE CBOE. THIS MATTER IS NOW IN COURT WHERE IT BELONGS, NOT AS AN END RUN TO FEDERAL AGENCY FOR A DECISION THAT WILL DISENFRANCHISE A CLASS OF SHAREHOLDERS, CBOT MEMBERS. IT CLEARLY STATES IN THE CONSTITUTION OF BOTH EXCHANGES THAT THE ONLY WAY TO CHANGE THIS ARRANGEMENT IS BY A VOTE OF 80% OF MEMBERS OF EACH EXCHANGE. THIS HAS NOT BEEN DONE AND THE SEC SHOULD ASK HOW THEY CAN TAKE SUCH ACTION ON ITS OWN WITHOUT SUCH A VOTE. AT THE VERY LEAST THE CBOE, CBOE BOARD AND OFFICERS SHOULD BE SANCTIONED AND ORDERED TO RETURN TO TREATING ALL MEMBERS, CBOE AND CBOT EQUALLY. SINCERELY, BENJAMIN NITKA |