Chicago Board Options Exchange (CBOE) member Marshall
Spiegel kept up his campaign to stop the exchange's purchase of
exercise rights from Chicago Board of Trade (CBoT) members last
week, by sending a letter to regulators requesting a halt to
Spiegel argued in a 5 May letter to Securities and Exchange
Commission (SEC) that CBOE's modified Dutch auction, which
began on 26 April, is a violation of exchange by-laws. At the
heart of the argument was whether CBOE should be permitted to
offer to buy exercise rights from CBoT members, who are now
officially shareholders of the for-profit exchange.
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.