From: L.W. Kramer [lwkramer@twocat.com]
Sent: Wednesday, September 03, 2003 10:59 PM
To: rule-comments@sec.gov
Cc: ibmgmt@interactivebrokers.com
Subject: Re: BOX - SR-BSE-2002-15


I would like to indicate my support for proceeding with the introduction
of "BOX." As a trader specializing in index options, I see a potential
immediate benefit to myself and my peers through the introduction of
this exchange.

The concepts of order routing and electronic markets are not new to
the industry.

The concept of providing a competitive execution selection mechanism
in addition to 'conventional' brokerage-based 'smart' order routing is
relatively new only insofar as it abstracts some of the routing decisions
to an independent market basis, enhancing the brokerage-specific
mechanisms.

While the complexity of developing such a system may create some new
supervisory and administrative challenges, it seems to me that the concept
also enhances market transparency and efficiency. These benefits seem to
be consistent with the goals of all market infrastructures.

L.W. Kramer