The Chicago Board Options Exchange has settled claims by Chicago Board of Trade members that they are entitled to an equity stake in the US options exchange. The CBOE will pay a financial settlement to the claimants. It described the settlement of the appeals as the “last impediment to demutualisation”, a process that the exchange said it would immediately pursue.
To settle all remaining appeals the CBOE will pay an aggregate amount of $4,171,243. CME Group, now owner of the CBOT, will reimburse...