MEMORANDUM

November 27, 2002

TO:	Files
FROM:	Luis de la Torre Counsel to Commissioner Goldschmid
RE:	Pacific Exchange, Inc. Rulemaking: New Trading Platform for Options, PCX Plus, Release No. 34-46803, File No. SR-PCX-2002-36

On November 25, Philip D. DeFeo of the Pacific Exchange met with Commissioner Harvey J. Goldschmid and Luis de la Torre, counsel to the Commissioner. During the meeting, Mr. DeFeo generally described the features of Pacific Exchange's proposed new trading platform for options, which are set forth in Notice of Filing of Proposed Rule Change and Amendment No. 1 Thereto by the Pacific Exchange, Inc. Relating to the Exchange's New Trading Platform for Options, PCX Plus, SEC Release No. 34-46803, File No. SR-PCX-2002-36 (Nov. 8, 2002).