CBOE Holdings Inc. claims it is the largest option exchange in the United States. The company, in addition to its core options trading business, provides marketplaces for trading futures contracts and cash equities through its subsidiary, CBOE Futures Exchange, and its affiliate CBOE Stock Exchange. During the year ended December 31, 2009, the volume of options contracts traded at the Chicago Board Options Exchange (CBOE) was 1.13 billion, or 4.5 million contracts per day.
The company trades options with terms of up to nine months on the stocks of over 2,300 corporations that are listed on the New York Stock Exchange (NYSE), NYSE Amex, LLC (NYSE Amex) and National Association of Securities Dealers Automated Quotation (NASDAQ). In addition, it also trades long-term options, known as Long-term Equity AnticiPation Securities (LEAPS), on approximately 800 stocks with terms of up to 39 months. It trades options on 10 different broad- and narrow-based market indexes, including indexes that it has developed, such as the CBOE S&P 500 Volatility Index (VIX). The index options it trades include some of the measures of the United States equity markets, such as the S&P 500, the Dow Jones Industrial Average (DJIA), the NASDAQ 100 and the Russell 2000. It trades options on approximately 200 exchange-traded funds (ETFs), based on various domestic and foreign market indexes. It also trades LEAPS on 66 ETFs.
The company competes with NYSE Amex, Boston Options Exchange (BOX), International Securities Exchange, Inc. (ISE), NYSE Arca, Inc. (NYSE Arca), NASDAQ OMX NASDAQ OMX PHLX, Inc. (PHLX), NASDAQ Options Market (NOM) and BATS Trading Inc. (BATS).
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Shares of Wells Fargo & Co. traded on the CBOE Stock Exchange Thursday morning at a price about 8 percent below its price on other exchanges, Reuters data showed.
The action was notable because sudden drops in stock prices have become more scrutinized after the May 6 “flash crash,” when markets fell precipitously in minutes. Get the full story »
CBOE Holdings Inc., the biggest U.S. options market, will launch its planned second exchange targeted at high-frequency traders between Oct. 15 and Nov. 1, Vice Chairman Edward Tilly said on Tuesday. Get the full story »
As the Securities and Exchange Commission finalizes its report on the May 6 “flash crash,” it is being forced to confront the fallout of its own decisions — which Wall Street sought and cheered — that ushered in an era of fast trading dispersed across dozens of venues.
As recently as this spring, many were applauding the speed, lower costs and competitive nature of the U.S. stock market that largely grew out of a series of policy and technology changes over a decade. “Who could argue that competition was a bad thing . . . and that faster trades would be a bad thing?” asks Joseph Saluzzi, co-head of trading at broker Themis Trading.
But the flash crash, he says, shows there have been “huge, unintended consequences.” Get the full story »
CME Group Inc., the biggest U.S. operator of futures exchanges, will offer contracts tied to anticipated price swings in gold and oil starting in the fourth quarter, the exchange said on Tuesday. Get the full story »
The head of CBOE Holdings Inc., the largest U.S. options exchange, said on Tuesday he is “fairly confident there is a reasonable chance” that the regulator will drop products listed on a single exchange from its fee-cap proposal. Get the full story »
CBOE Futures Exchange LLC said early on Thursday that it will launch its first weekly options on its volatility futures contract, which would expand the exchange’s portfolio of derivative contracts tied to market volatility. Get the full story »
CBOE Holdings Inc, which runs the Chicago Board Options Exchange, said on Thursday that second-quarter profit fell 11%. Net income fell to $24.9 million, or 27 cents a share, from $28.1 million, or 31 a share, a year earlier. Results from the latest quarter include certain one-time expenses, including for index options litigation. Get the full story »
The CBOE Futures Exchange LLC said today that July 2010 trading volume totaled 270,014 contracts, compared to 89,851 contracts during July 2009.
July marked the 10th consecutive month in which total volume registered an increase when comparing year-over-year trading activity. July’s volume rose three percent from the 261,451 contracts that traded during June 2010.
An Illinois state judge handed CBOE Holdings Inc. a decisive victory on Thursday that cemented the exchange operator’s right to exclusively list index options.
Cook County Circuit Court Judge William Maki barred rival International Securities Exchange from trading index options on U.S. stock benchmarks such as the Standard & Poor’s 500 index . Get the full story »
