The Chicago Board Options Exchange (CBOE) announced that a CBOE membership, or seat, traded today at $1,525,000, topping the previous record price of 1,505,000 which was set last week on October 18th.
Year-to-date, CBOE seat prices have risen more than 74% from the first sale of the year on January 5th for $875,000. Including today, 94 CBOE seats have traded so far this year, with 77 of those selling for one million dollars or more. The first time that a CBOE seat traded for $1 million was on February 2, 2006.
Seats are bought and sold via CBOE's Membership Department using an auction method in which bids and offers are submitted to the Exchange on an "as-desired" basis. When a bid matches an offer, a sale is made.
CBOE, the largest options marketplace in the U.S. and the creator of listed options, is regulated by the Securities and Exchange Commission (SEC). For additional information about the CBOE and its products, visit the CBOE website at: www.cboe.com.
