Electronic Brokerage Systems

February 12, 2003

Mr. Jonathan G. Katz
Securities and Exchange Commission
450 5th St. NW
Washington, DC 20549-0609

Dear Mr. Katz

Re: SR-BSE 2002-15 Boston Stock Exchange, Inc. Filing to Establish
Trading Rules for the Boston Options Exchange Facility

Our firm is a member of the Options Clearing Corporation. Our firm and our sister firm are engage in options brokerage.

I am writing in support of the BOX trading model.

The following features appeal to our clients:

    The order book is firm on the markets without differentiation as to the origin of the order.

    All participants are treated equally in the matching process.

    There is no rule against electronically generated and transmitted orders.

Sincerely,

Robert C. Sheehan