The Chicago Board Options Exchange (CBOE) received approval from the Securities and Exchange Commission for its rule proposal to allow “Sponsored Users” to access all products traded on CBOE. Currently, Sponsored Users, i.e., non-CBOE member firms that have entered into a sponsorship arrangement with a CBOE member for purposes of receiving direct electronic access to CBOE, are only allowed access to CBOE’s FLEX Hybrid Trading System (FLEX) and the CBOE Stock Exchange (CBSX) facility. Although the approved rules will not change the requirements currently applicable to sponsored access to FLEX and CBSX, the new rules will limit the number of Sponsored Users with access to all CBOE products to a total of 15 persons or entities. These “Sponsored User Slots” will be allotted on a first-come, first-served basis.

http://www.sec.gov/rules/sro/cboe/2008/34-58051.pdf