August 16, 2007
I am not going to go through the specifics of the matter. We all know what we are talking about here. There are several things which I do not intend to bother with, but I will point out a two. First, we have an agreement signed by both parties. Second, we have ownership by one of those parties (CBOT). Any attempt to block owners from exercising at the CBOE is simply not allowing the members to walk into their own house (metaphorically speaking). This rule should 100% be denied.
Bottom line...this so-called rule is a flat out joke
-Richard Friedman
CBOT Member and CBOE Exerciser