Seat sold for short-lived exchange record of $700,000
Former Chicago Board Options Exchange (CBOE) member Marshall
Spiegel continued his battle against the exchange last week,
filing paperwork with Securities Exchange Commission (SEC),
despite selling his seat a week earlier.
Spiegel, who on 15 July sold his seat for $700,000, a record
at the time, filed a motion with SEC last Monday to stop CBOE
from recognising Chicago Board of Trade (CBoT) exercise rights,
which allow CBoT members to trade on CBOE and share in stock
and dividends. He also has requested that CBOE stop any more
purchases of exercise rights, having purchased 68 so far.
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.