CBOE prepares for demutualisation

The exchange applied last week to the Securities and Exchange Commission for approval for the scheme, which would convert the 931 memberships into stock in a new holding company. The last seat to change hands sold for $1.4 million. The full process could take nine months, the exchange said.

The exchange's directors voted in July last year to demutualise, but ran into problems the next month when the Chicago Board of Trade launched a lawsuit to enforce its members' rights to participate in the restructuring.

  • LinkedIn  
  • Save this article
  • Print this page  

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: