Mary Higgins Clark Buys Seat on Chicago Board Options Exchange

Posted on March 25, 2010

Chicago Crain's Business reports that bestselling novelist Mary Higgins Clark bought a seat on the Chicago Board Options Exchange (CBOE). The seat reportedly cost Mary Higgins Clark $2.95 million.

The CBOE this month filed with the Securities and Exchange Commission to sell stock for the first time after it completes a demutualization process that will convert the member-owned exchange into a stock-based company.
Members of the exchange, who own the company by virtue of their seat ownership, will vote in the first half of this year on whether to proceed with the initial public offering.

Mary Higgins Clark will be one of 930 seat-holders. It may be a smart investment because the CBOE may soon offer an IPO. It's also possible she is using the seat as research for a financial thriller. Reuters also has a story about Mary Higgins Clark's CBOE seat purchase. Clark's next novel, The Shadow of Your Smile, will be released in April.