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CBOE ELECTS WILLIAM C. FLOERSCH TO SECOND TERM AS VICE CHAIRMAN; TWO PUBLIC DIRECTORS REAPPOINTED

          CBOE ELECTS WILLIAM C. FLOERSCH TO SECOND TERM AS
           VICE CHAIRMAN; TWO PUBLIC DIRECTORS REAPPOINTED
    CHICAGO, Jan. 8 /PRNewswire/ -- The board of directors of the Chicago Board Options Exchange (CBOE) today unanimously elected William C. Floersch, an independent market maker, to a second consecutive one- year term as vice chairman of the exchange and chairman of the executive committee for 1992.  Floersch ran unopposed.
    Additionally, John Shad, former chairman of the Securities and Exchange Commission, and Dr. J. Richard Zecher, president and CEO of UBS Asset Management (New York) Inc., were reappointed to two-year terms as public directors of CBOE, announced CBOE Chairman and CEO Duke Chapman.
    Four public directors are included in CBOE's 21-person board of directors.
    Said Floersch: "CBOE is well positioned for growth as investors direct heightened attention to the equity markets.  Efforts to attract new individual and institutional customers to CBOE through education and new products are succeeding.  We remain more committed than ever to CBOE's reputation as the world's finest and most efficient marketplace for equity and index options."
    Floersch, 47, a member of CBOE since 1974, has held a CBOE board director's post since 1988, and before that from 1984 to 1985.  He has served as an active member of the exchange's major committees and task forces over a 15-year period, including the board of directors, executive committee, market performance committee and floor directors committee.
    Before becoming an exchange member 18 years ago, Floersch was from 1970 to 1974 the co-manager of block trading for Lehman Brothers.  He worked one year before that in the Institutional Sales & Trading division of Freehling and Co. and prior to that was a principal of the Institutional Sales & Trading division of The Milwaukee Co.  Floersch began his career in OTC trading and block trading at Hornblower & Weeks -Hemphill, Noyes where he was employed for three years.
    Floersch holds a B.A. degree in Banking and Finance from the University of Arkansas.
    CBOE, regulated by the Securities and Exchange Commission, is the pioneer of listed options and the world's largest options marketplace.
    -0-        1/8/92
    /CONTACT:  Patricia Campbell, 312-786-7927, or Bonnie Greenberg, 312-786-7393, both of CBOE/ CO:  Chicago Board Options Exchange ST:  Illinois IN: SU:  PER SM -- NY110 -- 7908 01/08/92 15:28 EST
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Publication:PR Newswire
Date:Jan 8, 1992
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