Chicago Board Options Exchange (CBOE) announced on 1 March that it will move forward with plans to purchase a number of CBOE exercise rights held by Chicago Board of Trade (CBoT) full members, beginning on 15 March, after receiving regulatory approval.
The planned purchase offer has been on hold since last September while Securities and Exchange Commission (SEC) reviewed a challenge on the matter by CBOE member Marshall Spiegel. On 25 February, SEC denied the challenge and approved the CBOE's rule filing.
Spiegel, however, vowed to fight on and may hold up the auction through an exchange petition or legal avenues. "The one thing you can count...