The Chicago Board Options Exchange (CBOE) says that a CBOE membership, or seat, traded at USD1,525,000, topping the previous record price of 1,505,000 which was set on 18 October 2006.
Year-to-date, CBOE seat prices have risen more than 74 percent from the first sale of the year on 5 January for USD875,000. Including the recent sale, 94 CBOE seats have traded so far this year, with 77 of those selling for one million dollars or more. The first time that a CBOE seat traded for USD1 million was on 2 February 2006.
Seats are bought and sold via CBOE’s Membership Department using an auction method in which bids and offers are submitted to the Exchange on an “as-desired” basis. When a bid matches an offer, a sale is made.
CBOE is regulated by the Securities and Exchange Commission (SEC).