CFE

November 9. 2006

Via Electronic Mail

Ms. Fileen A. Donovan

Acting Secretary

Commodity Futures Trading Commission
afayette Centre

1155 21st Street, N.W.

Washington, D.C. 20581

Re: CBOE Futures Exchange. LLC Rule Certification

Dear Ms. Donovan

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. CBOF 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 updated CFF. Fee Schedule includes a
Transaction fee applicable CBOE members trading for their own accounts ahd provides for a 30-
day trial period that Vendors may offer to each of their Subscribers for receipt of CFE real-time
market data. The fees and provisions sct forth in the updated CFE Fee Schedule will become
effective on November 10, 2006 and will continue in effect until otherwise amended or modified
by C

5 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 CPE. Fee Schedule may be directed to Arthur Reinstein
at (312) 786-7570 or Jennifer Klebes at (312) 786-7466. Please reference our submission number
CFE-2006-20 in any related correspondence.

CBOE Futures Exchange, LLC

ce Edward Dasso (NFA)
The Options Clearing Corporation



Ms. Eileen A. Donovan

Page 2 of 3
CFE Fee Schedule
Effective November 4,10, 2006
1. Transaction Fees! in CBOE Index Futures,

CBOE DIJA Volatility Index Futures,

“BOE S&P BuyWrite Index Futures,
CBOE S&P 500 Three Month Variance Futures.
P 500 Twelve Month Variance Futures, and

CBOE Volatility Index Futures: Per Contract Side
A. CBOE member permit holder” $0.50
B. CBOE. member. wading. for the member's own account $0.50
BC. Non-CBOE member permit holder $1.00
€D. Customer $1.00
DE. Block Trade/Exchange of Future
for Related Position Transaction (EFRP) $0.75

(Fee 1s in addition to other applicable transaction fees)

Transaction fee questions may be directed to Don Patton at 312-786-7026 or patton@cboe.com

ww

Application F

A. CBOE member Wanved
B. Non-CBOE member $500
3 Amount
A. 312K 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).

? Including non-CBOE member permit holders thar 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. Eileen A. Donovan
Page 3 of 3

4.
Amount
»* All Vendors $1.200/yvear
B ¢’ Authorized User Fees:* ° Amount
* Professional Subscriber (surface quote) $ 5/Device/Authorized User/month
* Book Depth®’ (including surface quote) $ 3/Device/Authorized User/month

* Non-professional Subscriber (surface quate) $ 1Device/Authorized User/month

ngi@cboe.com

Market Data fee questions may be directed to Tom Knorring at 312-786-7363 or kn

* 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
distributing CFE market data to its Customers if it receives the market data directly from CFE (.e., not
through a Vendor) and distributes the market data directly (Z.¢. 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 Apnil 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 (o pay these fees. These fees are waived with respect
to the Devices’Authorized Users of Trading Privilege Holders and Authorized Traders recenwing CFE
market data directly from CFE (1c. 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 (©, not through another Vendor) from the Trading Privilege Holder or Authorized Trader. These
fee 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
CFF Rule 408 for the definitions of the terms "Device" and "Authorized User”

° On a one-time.basis foreach of its Subscribers, a Vendor, may.amake available real-time CFE market data
to.each such Subscriber for.a_tria} period of 30 days without incurring any Dev thorized User Fees,
and without being. subject to, any. reporting requirements, in connection with doing so...A.V isnot
required to have_a Subscriber Agreement in place with a Subscriber for CFE_market data. in. order to
1 with real-time. CFE markel, data during the 30-day. trial period referenced above,

“' Book Depth provides the five price increments closest to the surface quote on each side of the market

* CFE defines a Non-professional Subscriber as any Subscriber that: (1) ts contracting to receive CPE
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 mdividual personal mvestment 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 # futures contract market or securities exchange or association, or an owner.
partner. or associated person of any of the foregoing and (4) 1s not employed by a bank or an insurance
company or an affiliate of either to perform functions related to commodity futures or securities investment

on trading acuvity