Our Members

The members of our markets are registered broker-dealers and include a broad range of financial market participants. The diversity of Members on our various markets is essential to the health and vibrancy of these markets.

Following are some examples of the types of members that trade on our markets.

Automated Market Makers:
Electronic market-making firms
Retail:
Retail brokers directly routing trades to Cboe
Wholesalers:
Broker-dealers that function primarily as market makers for retail orders
Bulge Bracket:
Large investment banks offering trading and research
Agency Broker:
Broker focused solely on agency execution for their customers
Proprietary Trading Firms:
Firms that trade for their own account whose primary activity is not market making
Direct Market Access (DMA):
Firms accessing our markets via another broker’s connectivity
Platform:
Other exchanges, electronic communication networks or alternative trading systems routing trades to Cboe