Chicago Board of Trade (CBoT) members have voted to approve a deal to resolve the long-standing exercise right dilemma with Chicago Board Options Exchange (CBOE).
The CBOE exercise right, which was granted to CBoT full members when CBOE was formed, allows a CBoT Full Member to become a CBOE member without having to purchase a membership at the latter exchange.
Under the terms of the agreement, the exercise right privilege may be unbundled and rebundled with CBoT full...