[ By Laurence J. Goldfarb ] Effective  May  22,  2012,  CBOE  will  activate  a  new  "Opt  Out"  feature  for  Automated Improvement Mechanism ("AIM") auctions.  The Details of the rule are as follows:

• "Opt Out" will allow the contra/match order paired against the AIM Agency order to forgo any participation guarantee, if others are willing to fill the Agency order at the contra/match order’s limit price or better.
• "Opt Out" is only available for contra/match orders with a limit price.
• "Opt Out" will be available for AIM simple and complex orders, including those with stock (pending activation), as well as for AIM ISO’s and Sweep and AIM.

Interested parties should contact the API Group at 312-786-7300 or via e-mail at api@cboe.com for message specifications and requirements for use of the "Opt Out" feature. Questions regarding this functionality may be directed to Anthony Montesano  at 312-786-7365 or montesan@cboe.com or the Help Desk at 866-728-2263 or via e-mail at helpdesk@cboe.com. For further details, go to:  [RegCirc 12-65, 5/16/12].