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CME Group Purchases 159 CBOE ERPs

This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-09-03

CHICAGO (AP) -- CME Group, the owner of Chicago Mercantile Exchange, said Thursday that it purchased 159 Chicago Board Options Exchange exercise right privileges held by members of the Chicago Board of Trade for $39.8 million or $250,000 each.

CME Group will make the payments on Sept. 26.

Exercise right privileges were created in 1973 with the start of the Chicago Board Options Exchange allowing qualified holders trading privileges and equity in the CBOE.

After CME merged with the Chicago Board of Trade earlier this year, ERP holders retained the right to continue as a class member of a CBOE lawsuit to receive compensation for the privileges.

There are 1,331 ERPs outstanding. With 159 of those ERPs now owned by CME, the remaining holders have the option of continuing with the lawsuit to try and recover more cash or receive a $250,000 payment.

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