SEC commissioners on Tuesday voted unanimously that Chicago Board of Trade members have no membership claims to the Chicago Board Options Exchange, which they help create in 1973, said Carol Kennedy, CBOE spokeswoman. The CBOE had asked the SEC to approve a rule change terminating CBOT members exercise rights on the options exchange following the Chicago Mercantile Exchanges acquisition of the CBOT last July. CBOT members had filed a suit in a Delaware court to have their rights recognized, but the court said the decision was under the SECs jurisdiction. The SEC said other business matters related to the case are to be decided by the court.
In a statement, the CME said the SEC has now agreed that the court, and not the SEC, has the authority to make the final decision.