Type Public Founded 1973 | Revenue 634.5 million USD (2015) | |
 | ||
Traded as NASDAQ: CBOE
S&P 500 Component Industry Security & commodity exchanges Key people Edward T. Tilly
(CEO)
Edward L. Provost
(President, &COO)
Alan J. Dean
(CFO) Net income US$205.02 million (2015) Total assets US$384.79 million (2015) Stock price CBOE (NASDAQ) US$ 78.27 +0.02 (+0.03%)3 Mar, 4:00 PM GMT-5 - Disclaimer CEO Edward T. Tilly (23 May 2013–) Headquarters Chicago, Illinois, United States Profiles | ||
The Chicago Board Options Exchange (NASDAQ: CBOE), located at 400 South LaSalle Street in Chicago, is the largest U.S. options exchange with annual trading volume that hovered around 1.27 billion contracts at the end of 2014. CBOE offers options on over 2,200 companies, 22 stock indices, and 140 exchange-traded funds (ETFs).
Contents
The Chicago Board of Trade established the Chicago Board Options Exchange in 1973. The first exchange to list standardized, exchange-traded stock options began its first day of trading on April 26, 1973, in a celebration of the 125th birthday of the Chicago Board of Trade. The CBOE is regulated by the Securities and Exchange Commission.
Operations
In 2004, CBOE opened trading on the CBOE Futures Exchange (CFE) for volatility and variance contracts. In 2007, CBOE launched a Reg NMS-compliant stock exchange called the CBOE Stock Exchange (CBSX) to compete with the NYSE, Nasdaq, and other regional exchanges.; the CBOE Stock Exchange ceased its trading operations on April 30, 2014.
Trading at CBOE is carried out by way of the exchange's Hybrid system, which enables customers to trade – either electronically or through open outcry. About 95 percent of CBOE orders are traded electronically, which equates to between 50 and 60 percent of the exchange's total business. The remaining transactions, traded via open outcry, typically are large or complex institutional orders that use the skills of floor brokers to "work the order" to gain potential price improvement.
On March 11, 2010 CBOE filed paperwork to launch an initial public offering and began trading on the NASDAQ stock exchange on June 15, 2010.
On June 2, 2015 CBOE announced its acquisition of the LiveVol platform, a market data services provider.
On January 25, 2016 CBOE announced it had purchased a majority stake in Vest Financial, an investment adviser specializing in "options-centric products".
In September 2016, it was announced that CBOE was purchasing BATS Global Markets, effective in early 2017, for approximately US$3.2 billion.
Contracts offered
The CBOE (and other national options exchanges) offers options on the following, and others:
The CBOE calculates and disseminates the CBOE Volatility Index (VIX), the CBOE S&P 500 BuyWrite Index (BXM), and other indexes.