RECEIVED
C.RT.C.
(CBOE FUTURES EXCHANGE

205 HAY 31 AN IO: 13

May 27, 2005 OFC. OF THE SECRETARIAT

Yia Electronic Mail

Ms. Jean A. Webb

Secretary

Commodity Futures Trading Commission
Three Lafayette Centre

1155 21st Street, N.W.

Washington, D.C. 20581

Re: CBOE Futures Exchange, LLC Rule Certification
Submission Number CFE-2005-16

Dear Ms. Webb:

Pursuant to Section Sc(c)(1) of the Commodity Exchange Act, as amended ("Act"), and
§40.6(a) of the regulations promulgated by the Commodity Futures Trading Commission under the
Act, CBOE Futures Exchange, LLC ("CFE") hereby submits an updated CFE Fee Schedule. The
updated CFE Fee Schedule is marked to show changes from the current CFE Fee Schedule (additions
are underlined and deletions are stricken). The effective date of the updated CFE Fee Schedule is
June 1, 2005.

CFE is not aware of any substantive opposing views to the updated CFE Fee Schedule. CFE
hereby certifies that the updated CFE Fee Schedule complies with the Act and the regulations
thereunder.

Questions regarding the updated CFE Fee Schedule may be directed to David Doherty at

(312) 786-7466. Please reference our submission number CFE-2005-16 in any related
correspondence.

CBOE Futures Exchange, LLC

By: Kbutot S Soy a
GY

Edward J. Joyce iw
President

ec: Mark Baumgardner (OCC)

400 South LaSalle Street Chicago, Illinois 60605-1023 www.cboe.com/cfe


CFE Fee Schedule
AprilEffective June 1, 2005

la. Transaction Fees' in CBOE Volatility Index Futures,
CBOE S&P 500 Three Month Variance Futures-and.

CBOE China Index Futures, and CBOE DJIA Volatility

Index Futures Per Contract Side
A. CBOE member permit holder*? $0.50
B. Non-CBOE member permit holder $1.00
Cc. Customer $1.00

1b. Transaction Fees in Russell 1000 Index Futures and

Mini-Russell 2000 Index Futures:* Per Contract Side
A. CBOE member $0.20
B. Customer $0.30
Cc. Proprietary and Market-Maker permit holder $0.025
D. Block/EFP (fee is in addition to applicable Transaction fees) $0.10

Transaction fees questions may be directed to Don Patton at 312-786-7026 (patton@cboe.com).

2. Application Fees: Amount
A. CBOE member Waived
B. Non-CBOE member $500

3. Data Line Fees:*

A. 512K Line $1,000/Line/month
B. Installation No charge

' Unless otherwise specified for a particular product, all Transaction fees for any new product that begins trading on CFE
will be waived through the last day of the second calendar month in which the product is traded. (For example, if the new
product begins trading on April Sth, the Transaction fees for the product would be waived through May 31st).

?3 Including non-CBOE member permit holders that are majority owned by a CBOE member.

ay, tion-fees- for the Russell 4000-Ind

djustments-f 9 ke deri
iy ke: the-presran

* Billed monthly. These fees are payable by all Trading Privilege Holders, Authorized Traders and Vendors (including
Vendors that distribute only historical data) purchasing direct comnectivity from CFE. (These fees do not apply if
adequate data line capacity between CBOEdirect and the server of a Trading Privilege Holder, Authorized Trader or
Vendor is already in place.)


4. Market Data Fees:

A. Vendor Connect Fees:* Amount
¢ Direct Connect Vendor® $7,000/year
© Indirect Connect Vendor (except Intemet only)’ $6,000/year
© Internet only Indirect Connect Vendors® $4,000/year

B. Device/Authorized User Fees:”
© Professional Subscriber (surface quote) $ 5/Device/Authorized User/month
© Market Depth’? (including surface quote) $15/Device/Authorized User/month
© Non-professional Subscriber (surface quote) $ 1/Device/Authorized User/month

Market Data fees questions may be directed to Tom Knorring at 312-786-7363 (knorring@cboe.com).

> Billed annually. Vendors that distribute only historical data are not obligated to pay Connect fees._These fees are

§ A direct connect Vendor is a Vendor that receives a data feed directly from CFE.
7 An indirect connect Vendor is a Vendor that receives a data feed from another CFE Vendor rather than directly from CFE.

® An Intemet only Indirect Comect Vendor is a Vendor that receives a data feed from another CFE Vendor rather than
directly from CFE.

° Billed monthly. These fees are payable by each Vendor, based either on the number of Devices or the number of
Authorized Users to which it disseminates CFE market data. Vendors that distribute only delayed data and/or historical
data are not obligated to pay these fees. These fees are waived with respect to the Devices/Authorized Users of Trading
Privilege Holders and Authorized Traders receiving CFE market data directly from CFE (i.e., not through a Vendor), and
are also waived with respect to the Devices/Authorized Users of any Customer of such a Trading Privilege Holder or
Authorized Trader if the Trading PermitPyivilege Holder or Authorized Trader is a Vendor and the Customer receives the
CFE market data directly (ie, not through another Vendor) from the Trading Privilege Holder or Authorized Trader.
These fee waivers are available only to Trading PermitPrivilege Holders and Authorized Traders that comply with the
reporting requirements of CFE Rule 408. See CFE Rule 126 for the definition of the term "Customer" and CFE Rule 408
for the definitions of the terms "Device" and "Authorized User".

20 Market Depth provides the five price increments closest to the surface quote on each side of the market.

4 CFE defines a Non-professional Subscriber as any Subscriber that: (1) is contracting to receive CFE Information in his
or her individual capacity and not on behalf of any other person or any entity, (2) will use the Information solely in
connection with his or her individual personal investment activities and not in connection with any trade or business
activities, (3) is not a futures commission merchant, commodities introducing broker or commodity trading advisor,
securities broker-dealer, investment advisor, member or trading privilege holder of a futures contract market or securities
exchange or association, or an owner, partner, or associated person of any of the foregoing and (4) is not employed by a
bank or an insurance company or an affiliate of either to perform functions related to commodity futures or securities
investment or trading activity.