The Chicago Board Options Exchange, Incorporated filed with the Securities and Exchange Commission a notice of filing and immediate effectiveness of a proposed rule change to request permanent approval of an existing pilot program that allows a CBOE Market Maker to submit electronic quotations while physically away from CBOE’s trading floor in the Market Maker’s appointed Hybrid Classes and Hybrid 2.0 Classes. In the past, Market Makers were only permitted to stream electronic quotations in their appointed Hybrid and Hybrid 2.0 classes when they were physically present in the trading crowd.

The CBOE requested, and the SEC approved, on a pilot basis, the ability to evaluate the effectiveness of allowing Market Makers to quote remotely. The current pilot program is scheduled to expire on March 24. The CBOE believes it would be beneficial to permanently approve the pilot program and permit Market Makers to continue to have the ability to quote electronically away from the CBOE’s trading floor.

http://www.sec.gov/rules/sro/cboe/2007/34-55381.pdf