A proposal to extend the period during which transfer restrictions apply to Class A shares was approved by 86.5 percent of the votes cast. The Board recommended extending the transfer restrictions in order to facilitate a possible initial public offering of shares of Class A common stock and to assist in the development of an orderly market following any public offering. The company previously announced that it anticipates that any offering would be accomplished through a firm commitment underwriting led by one or more nationally recognized investment banks, and that shares of Class A common stock would be listed on the New York Stock Exchange or Nasdaq.
The following were elected as "at-large" directors to a two-year term by Class A and Class B shareholders:
- John W. Croghan, Partner, Rail-Splitter Fund (elected for the first time)
- Terrence A. Duffy, President, T.D.A. Trading, Inc.
- Daniel R. Glickman, Partner, Akin, Gump, Strauss, Hauer & Feld; previously, U.S. Secretary of Agriculture (elected for the first time)
- James E. Oliff, Executive Director, International Futures and Options Associates; President, FILO Corp.; President, LST Commodities, LLC; Vice Chairman, LaSalle Street Trading Group, LLC.
- John F. Sandner, President and Chief Executive Officer, RB&H Financial Services, L.P.; Chairman and Chief Executive Officer, FreeDrive.com
- Verne O. Sedlacek, President and Chief Operating Officer, John W. Henry & Co.; President, Westport Capital Management Corp. and Global Capital Management Ltd.
- Robert W. (Buck) Haworth, self-employed floor trader; certified public accountant
- Paul Kimball, Managing Director and Global Head of the Foreign Exchange Department, Morgan Stanley Dean Witter
- William P. Miller II, Senior Vice President and Independent Risk Oversight Officer, Commonfund Group; Director, Association for Financial Professionals; Director, Investment Risk Institute; Chairman, Executive Committee, End-Users of Derivatives Council; chartered financial analyst
- David M. Pryde, Chairman, J.P. Morgan Futures Inc.
- William R. Shepard, Founder and President, Shepard International, Inc.
- Class B-1: William G. Salatich, Jr., independent floor broker and trader
- Class B-2: Yra G. Harris, independent floor trader
- Class B-3: Gary M. Katler, Senior Vice President, Fimat USA
Chicago Mercantile Exchange Inc. (www.cme.com) is an international marketplace that brings together buyers and sellers on its trading floors and GLOBEX®2 around-the-clock electronic trading system. CME offers futures contracts and options on futures primarily in four product areas: interest rates, stock indexes, foreign currencies and agricultural commodities. All over the world, pension funds and investment advisers, portfolio managers, corporate treasurers, commercial and investment banks, broker/dealers and individuals are among those who trade on CME as an integral part of their financial management strategy. In 2000, more than 231 million contracts with an underlying value of more than $155 trillion changed hands at CME. The exchange moves about $1 billion per day in settlement payments, manages $30 billion in collateral deposits and administers more than $1 billion of letters of credit. On November 13, 2000, CME finalized its transformation into a for-profit, shareholder-owned corporation as it became the first U.S. financial exchange to demutualize by converting its membership interests into shares of common stock that can trade separately from exchange trading privileges.
