Nybot Seat Sells for Record $1 Million
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A seat on the New York Board of Trade sold at a record $1 million Wednesday, eclipsing previous-record sales of two seats Monday and one Tuesday at $950,000, the exchange said Wednesday.
A Nybot seat, giving the owner rights to trade all products at the exchange, is now offered at $1 million and bid at $950,000. The exchange has 967 seats held by about 700 owners.
Seat prices have risen $150,000 since Nybot’s board of governors last week agreed to consider a bid by Intercontinental Exchange (ICE) to purchase Nybot for a combination of ICE stock and $400 million in cash. Prior to that announcement, a seat last sold for $850,000 on September 6.
Options-trading permits haven’t changed hands since mid-August, partly because owners are considered to have no equity interest in the exchange, Nybot traders said. An option permit Tuesday is bid at $20,000 and offered at $75,000 and last sold at $55,000 in mid August.
