A CEBO contract has just two possible outcomes - a payout of a fixed amount if a credit event occurs or nothing if a credit event does not occur.
One change simplifies the terms of a payout for CEBO contracts, allowing CBOE to list CEBO contracts that specify bankruptcy as the only trigger for a payout.
The size of the CEBO contract payout if a credit event occurs has also been revised.
Initially, CBOE will offer ten single-name CEBO contracts for trading.
We are pleased to welcome CEBOS into the QAD organization and are excited to enhance our quality management functionality with a proven best-in-class solution for our key vertical markets," said QAD Chairman and President, Pamela Lopker.
Bob Herdoiza, CEO of CEBOS, will lead QAD's CEBOS Division.
Founded in 1995, CEBOS provides a suite of enterprise-wide quality management and management system standard solutions.
CEBOS' main solution, CEBOS MQ1, supports customers' compliance with industry specific quality standards.