The Chicago Board Options Exchange (CBOE) announced that a CBOE seat traded for USD2,050,000 on 20 February, the first time in CBOE history that a CBOE seat was sold for more than $2 million.
The seat sale surpassed the previous record of USD1,950,000, which was established on 16 February 2007. So far in 2007, 14 CBOE seats have been sold at prices ranging from USD1,800,000 to USD2,050,000.
During 2006, the highest price paid for a CBOE seat was USD1,775,000 on 6 December. The lowest price paid was USD850,000 on 30 January 2006. A total of 111 seats were bought in 2006.
CBOE’s Membership Department facilitates the purchase and sale of seats using an auction method in which bids and offers from interested parties are submitted to the Exchange. When a bid matches an offer, a sale is made.