From: Stephen Kaelber [skaelber@postmark.net]
Sent: Wednesday, September 10, 2003 5:07 PM
To: rule-comments@sec.gov
Subject: RE: BOX - SR -BSE-2002-15


September, 10 th 2003

Mr. Jonathan G. Katz
Secretary
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549-0609

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

Dear Mr. Katz:
      I am a private investor writing in strong support of prompt
approval of the new Boston Options Exchange Facility.  Delay in approval
will mean business as usual on the existing options exchanges. The
listed option markets desperately need rules which
promote a more level playing field.
     While some of the new rules (for PIP) raise questions about the
potential for internalization of order flow, the latest version does
allow for limited customer participation. (I would prefer immediate
equal access for all participants.)
     The approval of BOX is likely to force existing exchanges to
eliminate some of the outrageous advantages given to their members, and
compete for customer orders based on transparency and fairness, rather
than using payment for order flow coupled with onerous cancel fees, and
multiple rules designed to eliminate competition in providing liquidity.

Sincerely yours,

Stephen Kaelber
New Fairfield CT