CBOE Seat Sells For New Record Of $1,400,000

The Chicago Board Options Exchange (CBOE) announced that a seat, or membership, was bought last Tuesday, August 15, for a price of $1,400,000. This is a new record seat price at CBOE, surpassing the previous high of $1,375,000, set on April 25, 2006. This most recent seat sale was the fiftieth of the year and the thirty-seventh seat that was sold for at least one million dollars during 2006. The high seat sale for 2005 was $875,000.

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 world's largest options marketplace 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: http://www.cboe.com/