Boston Stock Exchange Announces Chairman Transition.BOSTON -- The Boston Stock Exchange The Boston Stock Exchange (BSE) is a regional stock exchange located in Boston, Massachusetts. The third-oldest stock exchange in the United States, it was founded in 1834. On October 2nd, 2007 Nasdaq agreed to acquire BSE for $61 million. announced today that its Chairman, Kenneth R. Leibler, will shift his energies at year end to solely lead the Boston Options Exchange, (BOX) the recently approved Exchange affiliate that provides an all electronic market for equity options. Michael J. Curran, the Exchange's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , will assume the additional role of acting Chairman of the Boston Stock Exchange at that time. Mr. Leibler, a founding director of the BOX market, was appointed Chairman of the Options Exchange in April 2004. "Since the BOX market began trading in February, its options trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. has grown over ten-fold. It now makes sense for me to provide a more concentrated focus on its strategy and operations," said Mr. Leibler. (Information on BOX's recent trading volume can be found at: http://www.bostonoptions.com/pdf/PressReleaseOctober04.pdf) The move also follows actions the Boston Stock Exchange took last April to separate its regulatory and business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets . That separation would be retained under this structure since regulatory functions would report to the recently created Regulatory Oversight Committee of the Board of Governors Mr. Leibler joined the Boston Stock Exchange as Chairman and CEO in 2001. He previously served as President of the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. as well as President and CEO of Liberty Financial Companies. Mr. Curran joined the Exchange in 2001 as Chief Information Officer and was appointed CEO of the Exchange earlier this year. He formerly was a Partner at Coopers & Lybrand and a Managing Director at Scudder Stevens and Clark. About the Boston Stock Exchange, Inc. Founded in 1834 as the third oldest exchange in the U.S., the Boston Stock Exchange (BSE See Bombay Stock Exchange. BSE See Boston Stock Exchange (BSE). ) has, from its beginnings, played a vital role as a leading regional exchange within the strongest capital market system in the world. Today, the BSE offers exceptional market quality, specialized trading services, innovative technology and outstanding customer service to broker-dealers, investment institutions, and listed public companies. The BSE is currently executing in excess of 185 million shares of listed and over-the-counter securities. Additional information can be found at www.bostonstock.com. About BOX: The Boston Options Exchange Group LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (BOX) was established in February 2002 by Boston Stock Exchange, Inc. (BSE), Bourse bourse (b  rs), term applied to a European stock exchange. The first international bourse was established in Antwerp in the 16th cent. de Montreal, Inc., and Interactive Brokers Group LLC. BOX is an all-electronic equity derivatives market and was created as an alternative to the existing market models. BOX launched trading in February 2004. For more information, see BOX website: www.bostonoptions.com. Since BOX is an all-electronic options exchange it provides great diversification for the Boston Stock Exchange's core business of equity trading.
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