The Chicago Board Options Exchange (CBOE) says that seven CBOE memberships, or seats, have traded, and a new record high price was established at USD 1,500,000.
So far 92 CBOE seats have traded this year, with 75 of those selling for one-million dollars or more. The first time that a CBOE seat traded for USD 1 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, the largest US options marketplace and the creator of listed options, is regulated by the Securities and Exchange Commission (SEC).