CBOE – CME talking exercise rights
CME Group and Chicago Board Options Exchange (CBOE) are
negotiating a potential out-of-court settlement over their
ongoing exercise rights issue.
Sources told FO Week that negotiations are ongoing
but that both sides also appear prepared to take the case back
to a Delaware Court to settle the matter.
In the aftermath of a Securities and Exchange Commission
(SEC) ruling in January, which supported CBOEs decision
to extinguish Chicago Board of Trade (CBoT) exercise rights,
officials from all sides of the issue appear to be more willing
to discuss potential solutions before returning to court. The
SEC ruling also included wording that said the financial impact
of extinguishing the exercise rights would be handled by the
court. CBOE has filed a motion to dismiss the case, a move that
has not been ruled upon by the judge.
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