The Securities and Exchange Commission issued an order approving and declaring effective a proposed plan (Plan) which was published for comment on November 9, 2007 by the American Stock Exchange LLC, the Boston Stock Exchange, Inc., CBOE, the International Securities Exchange, LLC, Financial Industry Regulatory Authority, Inc., NYSE Arca, Inc. and the Philadelphia Stock Exchange, Inc. (Exchanges). The Plan was intended to reduce regulatory duplication for broker-dealers that maintain memberships in more than one self-regulatory organization (each, a common member) by allocating regulatory responsibility for certain options-related market surveillance matters among the Exchanges.

Under the Plan, an Exchange will serve as the Designated Options Surveillance Regulator (DOSR) for each common member assigned to it and will assume regulatory responsibility with respect to that common member’s compliance with applicable common rules for certain accounts. When an Exchange has been named as a common member’s DOSR, all other self-regulatory organizations to which the common member belongs will be relieved of regulatory responsibility for that common member. The Plan will be administered by a committee known as the Options Surveillance Group.