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The Chicago Board Options Exchange (CBOE) announced today that a CBOE seat, or membership, traded on Tuesday, February 20th for $2,050,000, a new all-time high at CBOE and the first time in CBOE history that a CBOE seat was sold for more than $2 million.
Today's seat sale surpassed the previous record of $1,950,000, which was established on February 16, 2007. Additionally, two other CBOE seats were sold today - one for $1,949,000 and the other for $1,950,000. Thus far in 2007, 14 CBOE seats have been sold at prices ranging from $1,800,000 to $2,050,000.
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. A total of 111 seats were bought in 2006.
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.
