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Valerie B. Jarrett has advised the Chicago Stock Exchange, Inc. and CHX Holdings, Inc. Boards of Directors that she will not be seeking re-election to the Exchange and Holdings Boards in the coming year. Ms. Jarrett attributed the decision to increased demands on her time associated with her recent promotion to President and CEO of The Habitat Company LLC. She will continue to serve as Chairman of the Chicago Stock Exchange, Inc. and Chicago Stock Exchange Holdings, Inc. until the annual meetings of shareholders in April of this year, when her terms expire. Her successor as Chairman will be elected by the Boards following those meetings.
Ms. Jarrett joined the Board of the Chicago Stock Exchange, Inc. in September 2000 and was elected Chairman of the Board in April 2004. She assumed her positions on the CHX Holdings Board when the company was formed upon the Exchange's demutualization in 2005. Ms. Jarrett was appointed to the position of CEO of Habitat Co. in January 2007. Ms. Jarrett commented on key initiatives accomplished during her Chairmanship, "We set aggressive goals to demutualize, add additional broker-dealer partners as investors and completely re-tool the rules and technology of the Exchange to compete in today's marketplace. In 2005 we completed the demutualization. In 2006 we completed a transaction in which four firms, Bank of America Corporation; Bear Stearns; E*TRADE FINANCIAL Corporation; and Goldman, Sachs & Co. invested in CHX Holdings in return for minority equity stakes in the entity. In late January we completed the successful roll4out of a new trading model which incorporates both a new rule structure and completely updated technology. I am proud to say that the CHX has accomplished those tasks we set out to perform."
CHX Vice Chairman, Dave Grove, Senior Vice President, E*TRADE Capital Markets, spoke highly of her contributions, "Valerie has served as Chairman of the Boards through its recasting. Her leadership has been an important factor in helping the CHX achieve its goals."
CHX CEO Dave Herron added, "It has been a pleasure to work with Valerie over the past few years. She has helped us bring CHX constituents together to make and execute crucial and difficult decisions."
About CHX
CHX is an integral part of the National Market System offering competition to all U.S. equity markets. Subsequent to implementation of the new technology, CHX will trade virtually all NYSE, AMEX, NASDAQ issues. With a robust matching engine and connectivity to multiple order sending firms and market-makers, the CHX system offers functionality beyond the simple matching of orders and is an ideal venue for hedge funds, options market markers, quantitative, professional and active individual traders that require immediate and automated execution, while continuing to serve the needs of traditional broker-dealer clients and the individual investors they represent. More information is available at www.CHX.com
