CBOT Chairman Charles P. Carey said, “The overwhelming support of the second approval only highlights CBOT member/shareholders’ commitment to maintaining the competitive position of this great institution. This is a significant achievement for the CBOT and creates new opportunities for the Exchange and its shareholders.”
The second approval follows an initial vote by the CBOT membership on the Exchange’s restructuring proposal on April 14, 2005, when 99 percent of voting members cast ballots in favor of the plan. The first vote allowed the CBOT to demutualize into a for-profit, stock-based holding company and for-profit, membership exchange subsidiary, which was completed on April 22, 2005.