Filed by Board of Trade of the City of Chicago, Inc. (CBOT)
Subject Company -- Board of Trade of the City of Chicago, Inc.
File No. 333-54370
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The following letter was distributed to CBOT members on September 21, 2001 and
is currently available on the CBOT's intranet sites, MemberNet and OnBoard.
September 21, 2001
Yesterday, the members of the Chicago Board Options Exchange voted in favor of
the exercise right agreement that had been approved by the Boards of Directors
of both exchanges. We congratulate Bill Brodsky and Mark Duffy, along with
their Board, for their leadership in this matter that clarifies the scope of
CBOT members' exercise right.
The CBOE membership vote in favor of this fair and balanced agreement is a
significant step forward for both exchanges. It not only permits the Chicago
Board of Trade to go full-speed ahead with our restructuring while preserving
the exercise right, it also promises to usher in a new era of cooperation
between our two closely-linked exchanges.
While this outcome is a tremendous achievement, perhaps equally important is the
mutual respect and goodwill that resulted from the negotiation process that took
place between the two exchanges. We already have begun work on examining
opportunities where we can provide business growth and cost savings to our
respective exchanges, members and customers.
On Monday, our Board of Directors will vote to revise our registration statement
with the Securities and Exchange Commission to include this agreement so that we
can proceed with our restructuring. As we have done throughout, we will keep
you informed of our progress.
/s/ Nickolas J. Neubauer /s/ David J. VitaleNickolas J. Neubauer David J.Vitale
While the Board of Trade of the City of Chicago, Inc. (CBOT(R)) has filed a
Registration Statement on Form S-4, including a preliminary proxy statement and
prospectus, regarding the restructuring transactions with the SEC, it has not
yet become effective, which means it is not yet final. CBOT(R) members are urged
to read the final Registration Statement on Form S-4, including the final proxy
statement and prospectus, regarding the restructuring transactions referred to
above, when it is finalized and distributed to members, as well as the other
documents which the CBOT(R) has filed or will file with the SEC, because they
contain or will contain important information for making an informed investment
decision. Members may obtain a free copy of the final prospectus, when it
becomes available, and other documents filed by the CBOT(R) at the SEC's web
site at www.sec.gov. This communication shall not constitute an offer to sell or
the solicitation of an offer to buy, nor shall there be any sale of securities
in any state in which offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state. No
offering of securities shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as amended.
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