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Cboe Global Markets

Cboe History

1973
Cboe is founded and becomes the first marketplace for trading listed options.
1974
New Cboe trading floor opens - it's a "deck floor" over the main trading floor at the Chicago Board of Trade.
1975
Cboe introduces computerized price reporting.
Cboe Clearing Corp. becomes The Options Clearing Corporation (OCC), the industry clearinghouse for all U.S. options trades.
1977
Cboe adds "put" options.
Cboe acquires the Midwest Stock Exchange's options business.
1978
Cboe introduces Order Support System (OSS), which automates order-routing and limit order book access.
1981
Cboe breaks ground on a 350,000-square-foot building across the street from the Chicago Board of Trade.
1983
Cboe creates options on broad-based stock indices with the S&P 100® (OEX) and S&P 500® (SPX®) Indices.
1984
Cboe moves into its current building in the heart of Chicago's financial district.
Annual exchange volume tops 100 million contracts for first time.
1985
Cboe forms The Options InstituteSM, its educational arm, whose mission is to educate investors around the world about options.
The exchange introduces the Retail Automatic Execution System (RAES) to facilitate electronic execution of small customer orders.
1986
Cboe introduces an Auto Quote system to facilitate firm quotes in less active series.
1987
Cboe introduces Electronic Book to provide more timely order execution and fill reports for limit orders.
1988
Cboe celebrates its 15th anniversary.
1989
Options on interest rates begin trading.
1990
Cboe creates LEAPS®, or Long-Term Equity AnticiPation Securities, which feature expirations of up to three years, giving investors the ability to establish long-term positions.
1992
Options on sector and international indices begin trading.
1993
Cboe creates the Cboe Volatility Index® (VIX®), which has become the world's barometer of market volatility.
Cboe introduces hand-held market-maker terminals.
Launches FLexible EXchange® (FLEX®) options, which feature customizable terms.
1994
Options on the Nasdaq-100® Index listed.
PAR (Public Automated Routing system), a PC-based touchscreen for floor brokers, is introduced.
1997
Cboe lists the first options on the Dow Jones Industrial AverageSM (DJXSM).
1998
Founding members celebrate Cboe's 25th anniversary.
1999
Cboe introduces ROS, the Rapid Opening System, significantly reducing the time traditionally needed to open all options series in a class.
2001
Cboe launches Cboedirect, a state-of-the-art electronic trading platform.
2002
Cboe S&P 500 BuyWrite Index (BXM), the first major benchmark for tracking options' strategy-based performance, is created.
2003
Cboe begins operating a Hybrid trading model that integrates floor and screen-based trading in a single exchange.
2004
Cboe Futures ExchangeSM (CFE®) opens.
Cboe Volatility Index® (VIX®) futures begin trading.
2005
Cboe creates Weeklys, short-term options with one week until expiration, allowing investors to target trading strategies around market news and events. Weeklys in SPX and OEX are initial listings.
2006
VIX options are launched.
Cboe options contract volume reaches an all-time record of 674,735,348 contracts (up 44% over the previous year).
2007
Cboe introduces CFLEXSM, an Internet-based trading system for FLEX options.
2008
Annual exchange volume surpasses one billion contracts for first time.
2010
Cboe converts to publicly-traded corporation, Cboe Global Markets, with IPO ceremony held on the trading floor.
C2SM, an all-electronic exchange, launches.
2011
SPXpm, a new, electronic S&P 500 option contract, launches.
2012
Annual volume in VIX options and futures set sixth and third consecutive records, respectively.
Cboe CommandSM, a cutting-edge trade engine technology, goes live.
2013
New London Hub for European customers becomes operational.
2014
Trading in VIX futures expands to 24 hours a day.
"Cboe Mobile," a new options education "app" is released.
Cboe enters into licensing agreement to become the exclusive U.S. home for MSCI Index options.
Cboe Global Markets trading volume reaches an all-time high of 1.3 billion contracts.
SPX options, VIX options and VIX futures set new annual volume records.
2015
Cboe Options Institute celebrates its 30th anniversary.
Cboe enters into licensing agreement with London Stock Exchange Group (LSEG) to become the exclusive U.S. home for LSEG-owned FTSE and Russell index options.
Cboe launches global trading hours for SPX and VIX options.
Cboe acquires Livevol, Inc., a leading provider of options technology, trading analytics and market data services.
Cboe takes minority ownership stake in CurveGlobal, an interest rate derivatives venture backed by the London Stock Exchange Group (LSEG), Cboe and a number of major dealer banks.
Cboe partners with Environmental Financial Products to launch the American Financial Exchange (AFX), an electronic marketplace for small and mid-sized banks to lend and borrow short-term funds.
2016
Cboe takes equity stake in Eris Exchange, a U.S.-based futures exchange group offering swap futures.
Cboe begins overnight dissemination of Cboe Volatility Index® (VIX®).
Cboe makes majority investment in Vest Financial, an asset management company specializing in target-outcome investment strategies.
SPX options annual average daily volume tops one million contracts for first time ever.
2017
Cboe acquires Bats Global Markets, making Cboe Global Markets one of the world’s largest exchange holdings companies and expanding its business into U.S. and European equities, exchange traded funds (ETFs) and global foreign exchange (FX) products.