- 4 -
Ownership of petitioner is vested in its members and is
represented by five classes of transferable memberships: Full
memberships, associate memberships, Government Instruments Market
(GIM) memberships, Commodity Options Market (COM) memberships,
and Index, Debt and Energy Market (IDEM) memberships.
Each class of membership carries specified voting rights,
dissolution rights, and trading privileges. The most
comprehensive membership, a full membership, has trading
privileges on all markets on the CBOT, a full share on
liquidation, and one vote on all matters voted on by CBOT
members. The most restricted membership, an IDEM membership, has
trading privileges only on the Index, Debt and Energy market, a
one-half percent of one share on liquidation and voting rights to
elect members of an IDEM liaison committee to the board of
directors of the CBOT. The following chart shows the numbers of
different memberships during the years in issue and summarizes
the rights and privileges of each class:
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011