The operator of the largest U.S. options exchange, CBOE Holdings, Inc., announced that it has filed to go public.

The CBOE has filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering of its unrestricted common stock. The number of shares to be offered and the price range for the offering have not yet been determined.

CBOE Holdings said that it intends for the proposed offering to take place concurrently with the proposed demutualization of Chicago Board Options Exchange, Inc., which is currently the parent corporation of CBOE Holdings. Assuming that the members of the CBOE vote in favour of the proposed demutualization, the firm hopes to complete both the demutualization and the IPO by the end of the second quarter.

It intends to use the net proceeds from the shares sold by the company for general corporate purposes, including the repurchase of shares of the common stock to be issued to CBOE members in the demutualization and as part of a settlement agreement in a lawsuit between the CBOE and former members of the Chicago Board of Trade.