Summary Box: Options exchange CBOE plans IPO

LONG WAIT: The settlement of a nearly two-year legal dispute over payment for ownership rights with with the CME Group Inc. in August 2008 cleared the way for the CBOE’s IPO.

TAKEOVER TARGET?: Exchanges have been busy combining to cut costs. Acquisitions and mergers have quickly followed IPOs of other exchanges CBOE could be a takeover candidate after it completes its IPO.

REGULATORY RISK: Trading of derivatives has exploded over the past decade. Now regulators and politicians want to increase regulation and oversight of these financial instruments, which could hurt CBOE’s revenue. [Read the full article]

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The last major private exchange left in the U.S., the Chicago Board Options Exchange, filed for an initial public offering of up to $300 million Thursday.

The CBOE plans to convert from a member-owned organization to a publicly traded corporation known as CBOE Holdings Inc. that analysts say could be worth up to $5 billion.

The Chicago exchange, the largest platform for options trading in the U.S., did not say when it plans to go public or how many shares it hopes to sell. The CBOE has wanted to go public for a long time. It settled a dispute over payment for ownership with the CME Group Inc., which operates the Chicago Mercantile Exchange and the Chicago Board of Trade, in August 2008, clearing the way for an IPO.

“It’s the last of the bigger, well-known exchanges” to go public, said Raymond James analyst Patrick O’Shaughnessy. [Read the full article]

Cancer therapy company AVEO Pharmaceuticals Inc (AVEO.O) cut the expected price range of its initial public offering on Thursday, according to an underwriter.

The company expects to sell “less than 8 million” shares for $9 to $10 each. It had planned to sell 7 million shares for $13 to $15 each.

The company on Wednesday delayed the pricing of its IPO. It is now expected to price on Thursday night. (Reporting by Clare Baldwin. Editing by Robert MacMillan)

U.S. retail sales rose unexpectedly last month despite heavy snow storms and a drop in vehicle purchases by consumers spooked by Toyota recalls, bolstering hopes of a sustainable economic recovery.

The Wall Street behemoths that came close to collapse in the financial crisis are back and pushing aside the boutiques that made a killing during the turmoil. [Read the full article]

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