CBOE’s Board of Directors has authorised the filing with the Securities and Exchange Commission (SEC) of an S-4 Registration Statement that will allow them to become a wholly owned subsidiary of a new holding company, CBOE Holdings, Inc. CBOE expects to submit this filing to the SEC in the next two weeks. CBOE’s proposed demutualisation is subject to regulatory approval by the SEC and a vote of the CBOE membership.
CBOE is currently a mutually-owned membership organisation. CBOE memberships existing at the time of the demutualisation will be converted into shares of CBOE Holdings.
“This is an historic step for CBOE, where we have paved the way for a successful CBOE demutualisation by streamlining our membership structure, cutting costs, and increasing profitability,” says William J. Brodsky, the CBOE Chairman and CEO. “The filing of our S-4 is an important next step toward reaching our ultimate goal to operate as the most successful options exchange in terms of customer and shareholder satisfaction.”