From: Peter Ritter [peter_ritter@email.com]
Sent: Wednesday, September 03, 2003 12:26 AM
To: rule-comments@sec.gov
Subject: Boston Options Exchange (BOX)

 
 
 
To whom it may concern
 
 
>>We have received indications that the existing option exchanges, in their 
effort to protect their franchise, are planning to fight the >>introduction 
of BOX.  (Boston Option Exchange)

I am currently not trading equity options, because in this market environment, 
it would be prohibitively expensive to always pay the 'bid-ask' spread that 
the option market makers think they deserve. 
 
My experience is that fully electronic markets that allow 'end-user to end-user' 
trading like globex are VASTLY superior to other market models. Bypassing the 
middle men will dramatically increase liquidity in the options markets . Hence 
I am a strong supporter of PIP Price Improvement Period as proposed by BOX and 
I would like to ask the SEC to allow its introduction as soon as possible. 

 
Best Regards, 

Peter Ritter
Trader