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CBOE Seat Traded Today At A New Record Price - Sale For $2.9 Million Tops Last Week's Record

Date 31/10/2007

The Chicago Board Options Exchange (CBOE) announced that a CBOE seat, or membership, traded for a new all-time high today. This morning, a seat traded for a price of $2,900,000, surpassing the previous high price of $2,750,000 for a CBOE seat, which was set last Wednesday, October 24, 2007.

With today's seat sale, a total of 81 have now traded in 2007. The record price of $2,900,000 is an increase of 66% 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.