April 18, 2006

Via 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-2006-07

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 strieken). The fees set forth in the updated CFE Fee Schedule are
effective for May 2006 and will continue in effect until otherwise amended or modified by CFE.

CFF 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 Arthur Reinstein at
(312) 786-7570. Please reference our submission number CFE-2006-07 in any related
correspondence,

CBOE Futures Exchange, LLC

Managing Director

ce: Mark Baumgardner (OCC)
Edward Dasso (NFA)

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


Ms. Jean A. Webb
Page 2 of 3

CFE Fee Schedule

Effective January; 2006
May 2006 ¢

la. Transaction Fees! in CBOE Volatility Index Futures
CBOE S&P 500 Three Month Variance Futures.
CBOE S&P 500 Twelve Month Varianes Futures,
CBOE China Index Futures, CBOE DJIA Volatility
Index Futures, and CBOE PowerPacks Index Futures:

A. CBOE member permit holder’
B. Non-CBOE member permit holder
Cc. Customer

1b. Transaction Fees in Russell Index Futures:

CBOE member
Customer
Proprictary and Market-Maker permit holder

DOw>

lc. Transaction Fees in CFE GAPP Futures:

A. Permit holder
B. Customer :
lon DPM and Market-Maker permit holder

Block/EFP (fee is in addition to applicable Transaction fees)

Per Contract Side

$0.50
$1.00
$1.00

Per Contract Side

$0.20
$0.30
$0.025
$0.10

Per Contract Side
$0.50

$1.00
30.025

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

2. Application Fees:

A. CBOE member
B. Non-CBOE member

3. Data Line Fees:*

A. 512K Line
B. Installation

Amount

Waived
$500

Amount

$1,000/Line/month
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 waded. (For example, if the new
product begins trading on April Sth, the Transaction fees for the product would be waived through May 31st).

Including non-CBOE member permit holders that are majority owned by a CBOE member,

> Billed monthly. These fees are payable by all Trading Privilege Holders, Authorized Traders and Vendors (including
Vendors that distribute only historical data) purchasing direct connectivity 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.)


Ms. Jean A. Webb
Page 3 of 3

4. Market Data Fees:

A. Vendor Connect Fees: * Amount
e All Vendors $1,200/year

B. Device/Authorized User Fees:* Amount
* Professional Subscriber (surface quote) $ 5/Device/Authorized User/month
© Market Book Depth’ (including surface quote) $45/Device/Authorized User/month
* Non-professional Subscriber’ (surface quote) $ 1/Device/Authonzed User/month

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

* Billed annually. CFE bills all Vendors that either receive a data feed directly from CFE or receive data from a data feed
from another CFE Vendor rather than directly from CFE. CFE Vendors that distribute only historical data are not obligated
to pay Vendor Connect fees. In addition, these fees are waived with respect to any Trading Privilege Holder or Authorized
Trader that is a Vendor solely by reason of distnbuting CFE market data to its Customers if it receives the market data
directly from CFE (i.¢., not through a Vendor) and distributes the market data directly (7.e., not through another Vendor) to
its Customers. All Vendor Connect fees for any new Vendor that has not previously acted as a CFE Vendor will be waived
through the end of the sixth calendar month following the last day of the month in which the Vendor begins to receive
market data from CFE. (For example, if a Vendor receives market data from CFE commencing on April Sth, Vendor
Connect fees would be waived through October 31. Vendor Connect fees payable by the Vendor for the remainder of the
year would be pro-rated.)

* 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 Privilege Holder or Authorized Trader is a Vendor and the Customer receives the CFE
market data directly (i.e., not through another Vendor) from the Trading Privilege Holder or Authorized Trader. These fec
waivers are available only to Trading Privilege 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".

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

7 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 cither to perform functions related to commodity futures or securities mvestment or
trading activity.