CBOE Reports Third Seat Sale At New Record High Price Of $1.9 Million

The Chicago Board Options Exchange (CBOE) reported that a membership, or seat traded today for $1.9 million, making it the third seat to trade at this all-time record high price. Last week, on January 12th, two seats were purchased, in unrelated transactions, for $1.9 million each, setting the new record high price for CBOE seats. The previous record was $1,800,000, set on January 10th. Today's seat sale is the fourth membership to change hands in 2007.

During 2006, the highest price paid for a CBOE seat was $1,775,000 on December 6th. The lowest price paid was $850,000 on January 30, 2006, and the last sale of the year was on December 27th for $1,750,000.

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.