Possible court action could further delay CBoT demutualisation
The ongoing battle between Chicago Board Options Exchange
(CBOE) and one of its members over Chicago Board of Trade
(CBoT) exercise rights is expected to continue with regulators
and may end up in court.
CBOE member Marshall Spiegel told FO Week last week
that he strongly objects to CBOE's plan to purchase exercise
rights from full members of CBoT and may push to extinguish
exercise rights altogether in court. He said he does not want
CBOE to purchase exercise rights because it will devalue the
options exchange and also harm the price of his full
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