On February 9, 2005 ("Effective Date"), CHX's demutualization plan took effect and CHX (formerly a not-for-profit, non-stock corporation owned by its members) became a wholly-owned subsidiary of a holding company, CHX Holdings, Inc. CHX Holdings was formed as a for-profit, stock corporation owned by its shareholders, the former member-owners of CHX. The demutualization plan was approved by CHX's Board of Governors on August 5, 2004, by its members on November 11, 2004 and by the SEC on February 8, 2005. Under the new demutualized structure, CHX continues to operate as a national securities exchange, registered with the SEC.CHX Holdings, Inc.
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