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CBOE Proposed increase in RAES



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The CBOE has filed with the SEC to increase the maximum
allowable RAES trade to 100 Contract in both equity and
index options.  The limit is currently already 100 in index
option and 20 in equity options.  The only place the 100
limit is currently in place is in the Dow Jones Option
Pit... everywhere else the 20 limit is currently in place.
The reality is, when approved, the practical size for RAES
will be 50 contracts in equities, oex, spx and ndx...and
will remain 100 in the Dow Jones Pit.  You might want to
visit the cboe website in the near future to see further
info after the SEC approves the filing.

The filing also increases in size the RAE's step up limit.
The step up is the procedure that allows a RAE's trade to
occur when a better market exists at another exchange.
Currently the step up is one tick.  The new filing would
allow the step up to be greater than one tick.

Generally regulatory filings take a few months to get
approved so I would encourage you to visit the cboe web
site(www.cboe.com) to stay current.