Chicago Stock Exchange - Governance

Governance

The Chicago Stock Exchange is dedicated to maintaining corporate governance standards that ensure that the interests of public investors and the Exchange’s members are represented in vital areas of the Exchange’s operations. This careful balancing of interests is an integral part of the Exchange’s structure.

The Exchange has an executive board that is in charge of all the Exchange’s procedures. The Exchange’s operations are also overseen by a 12-person Board of Directors which consists of six public directors, five participant directors, and the chief executive officer. A public director is a director who (i) is not a participant, or an officer, managing member, partner or employee of a participant firm; (ii) is not an employee of the CHX or any of its affiliates; (iii) is not a broker or dealer, or an officer or employee of a broker or dealer; and (iv) does not have any other material business relationship with (a) CHX, CHX Holdings or any of their affiliates or (b) any broker or dealer. Whereas a participant director is an individual participant or an officer, managing member or partner of a participant firm.12 directors are divided into three equal classes; each class serves a three-year term and there is one STP participant director in each class.