CBOE Legal & Regulatory Site

MEMBERSHIP DEPARTMENT

Member Services:
The Membership Department (the "Department") services CBOE Members, their employees, and applicants for CBOE Membership. The Department processes all applications for membership, changes in membership status and handles other matters related to individual and firm qualification and maintenance of CBOE membership. Membership services are also provided to CBSX, LLC, the CBOE Futures Exchange, LLC and OneChicago, LLC.

The Department reviews the fingerprint record of each Member and Member employee electronically received from the FBI to determine if further action is warranted. Copies of the processed fingerprint record and associated FBI report are provided to the Members for record keeping purposes, as required by SEC statute. The Department also administers the seat sale market. Bid, Ask and Last Sale information for memberships are updated on the Members Website, the Seat Market Hotline and the CBOE electronic bulletin boards. Additionally, the Department processes and edits all Membership information included in the weekly CBOE Bulletin. This information includes membership applications, new membership leases and lease terminations, membership terminations, effective memberships and changes in membership status.

Document Management:
The Department Director is responsible for the administration of the Exchange-wide document management initiative. This initiative commenced in 2001 with the implementation of a records storage and retrieval repository for the Membership and Accounting Departments and OPRA. The repository now contains more than 180,000 documents, which include members' files, fingerprints and FBI reports, accounts payable documents, travel and expense reports, monthly financial statements, CBOE Rule Filings and OPRA contracts.

In June 2007, the On-Line Membership Application Submission system, built upon a workflow technology framework, was implemented to allow new membership applicants to submit application materials through the Internet. CBOE is the only exchange with this type of application system.

If you would like more information regarding the Membership Department, please call (312) 786-7449.

Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (ODD). Copies of the ODD are available from your broker, by calling 1-888-OPTIONS, or from The Options Clearing Corporation, One North Wacker Drive, Suite 500, Chicago, Illinois 60606. The information on this website is provided solely for general education and information purposes and therefore should not be considered complete, precise, or current. Many of the matters discussed are subject to detailed rules, regulations, and statutory provisions which should be referred to for additional detail and are subject to changes that may not be reflected in the website information. No statement within the website should be construed as a recommendation to buy or sell a security or to provide investment advice. The inclusion of non-CBOE advertisements on the website should not be construed as an endorsement or an indication of the value of any product, service, or website. The Terms and Conditions govern use of this website and use of this website will be deemed acceptance of those Terms and Conditions.