MEMORANDUM

March 7, 2003

TO:	Files
FROM:	Luis de la Torre Counsel to Commissioner Goldschmid
RE:	Proposed Rule Change by the Boston Stock Exchange, Inc. Establishing Trading Rules for the Boston Options Exchange Facility, Release No. 34-47186, File No. SR-BSE-2002-15

On February 25, John A. Boese of the Boston Stock Exchange and Wayne Pestone of Bingham McCutchen met with Luis de la Torre, counsel to Commissioner Harvey J. Goldschmid. Messrs. Boese and Pestone generally described the features of the Boston Stock Exchange's proposed new electronic options trading facility, which are set forth in Notice of Filing of Proposed Rule Change by the Boston Stock Exchange, Inc. Establishing Trading Rules for the Boston Options Exchange Facility, SEC Release No. 34-47186, File No. SR-BSE-2002-15 (Jan. 14, 2003).