CBOE buys 68 exercise rights, member sallies forth

06 Jun 2005

Chicago Board Options Exchange (CBOE) purchased 68 exercise rights in its modified Dutch auction for Chicago Board of Trade (CBoT) members.

The auction, which concluded on 27 May, accepted all tender offers made. The final number of sellers was considerably higher than sources had anticipated although it still only represented about 5% of the 1,402...

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“The fact is, an awful lot of people would be very happy for all business to be transacted over the counter. Transparency is good for the consumer, but privacy is better for the banks and the brokers. Wherever there’s a grey area, it’s possible to make money.”

European consultants predict frantic lobbying during the Mifid review.