The board of the Chicago Board Options Exchange approved in mid-December a proposal to pursue demutualisation followed by an immediate initial public offering. The US equity options exchange hopes to complete the process by the end of the second quarter 2010.
"It is the board’s judgment
that combining the timing of the demutualisation and IPO would
be in the best interest of CBOE owners," chief executive Bill
Brodsky told the exchange’s members. "Subject to a
member vote in favour of demutualisation, our goal is to
complete both the demutualisation and the IPO by the end of the
second quarter of 2010."
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