CBOE Eyes IPO

The CBOE submitted a request in December asking that, upon completion of the sale of the CBOT to the CME, the exercise rights be terminated.

But the CBOT fired back earlier this month that the CBOE should not be allowed to issue any stock to members without allowing exercise right holders to participate in that distribution. It is also looking for the court to find that the CBOE "breached its charter" with the CBOT.

A CBOE spokeswoman declined to comment on the lawsuit. A CBOT spokesman was not immediately available.

Earlier in the day the Amex announced that it had hired Morgan Stanley(MS Quote - Cramer on MS - Stock Picks) to begin the process of demutualization, setting the stage for a possible IPO or other "potential strategic future initiatives."

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