MEMORANDUM
| To: | File No. S7-16-01 |
| From: | Hong-Anh Tran |
| Date: | February 5, 2002 |
| RE: | Customer Margin Proposals Relating to Security Futures |
On February 5, 2002, the SEC had a telephone conversation with the Chicago Board Options Exchange ("CBOE") to discuss the customer margin proposal relating to security futures.