The Chicago Board Options Exchange (CBOE) announced that a CBOE seat, or membership, traded this morning, Monday, at a new record high price of $2,700,000, surpassing the previous high of $2,650,000 for a CBOE seat, which was set on July 24, 2007.
Today's seat sale was the 67th transaction of 2007, and is an increase of 54% from the $1,750,000 price paid at the close of 2006. During 2006, the highest price paid for a CBOE seat was $1,775,000 on December 6. The lowest price paid was $850,000 on January 30, 2006 and a total of 111 seats changed hands during the year.
CBOE's Membership Department facilitates the purchase and sale of seats using an auction method in which bids and offers from interested parties are submitted to the Exchange. When a bid matches an offer, a sale is made.
