The oldest U.S. futures and options exchange is going Wall Street after 157 years.
The Chicago Board of Trade was founded to do business in corn and soybeans but now is mostly a marketplace for financial futures and options. It hopes to raise as much as $147 million from an initial public offering. Final details on pricing are expected late today and the board is to begin trading tomorrow morning on the New York Stock Exchange.
The board’s newly established holding company, CBOT Holdings Incorporated, is offering $2.9 million shares of common stock and its selling shareholders are offering another 263,000 shares.
That will still leave Board of Trade members controlling about 93 percent of the shares.