N=2 super-Born-Infeld theory revisited

I discuss the symmetry structure of the N=2 supersymmetric extension of the Born-Infeld action in four dimensions, and confirm its interpretation as the Goldstone-Maxwell action associated with partial breaking of N=4 extended supersymmetry down to N=2, by revealing a hidden invariance of the action with respect to two non-linearly realized supersymmetries and two spontaneously broken translations. I also argue about the uniqueness of supersymmetric extension of the Born-Infeld action, and its possible relation to noncommutative geometry.