Cboe Options Exchanges
Cboe provides choice for our diverse trading customers by operating four U.S.-listed cash equity options markets, including the largest options exchange in the U.S. – Cboe Options Exchange*.
Cboe Options Exchange |
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Hybrid, Classic Model |
Open outcry and electronic exchange |
Cboe C2 Options Exchange |
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Pro-Rata, Maker-Taker Model |
All-electronic exchange |
Cboe BZX Options Exchange |
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Price-Time, Maker-Taker Model |
All-electronic exchange |
Cboe EDGX Options Exchange |
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Classic Pro-Rata/Customer Priority/DMM Model |
All-electronic exchange |
*Cboe Exchange, Inc. is the legal name of this exchange, which for marketing purposes is sometimes referred to as Cboe Options or Cboe Options Exchange.
Cboe Options Exchange Overview
Value of a Physical Trading Floor
Latest News
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August 8, 2025
Cboe Traders Weekly for Friday, August 8, 2025 -
August 8, 2025
Reminder - Cboe Options 2025 Mandatory Weekend Virtual Trading Floor Production Testing The Cboe Options Virtual Trading Floor (VTF) application may be utilized if the Cboe Options Trading Floor becomes inoperable for an extended period. Mandatory VTF production testing will take place on Saturday, November 8, 2025, from 7:30 a.m. to 9:30 a.m. CT for Floor Trading Permit Holder (TPH) firms with a presence in the SPX, VIX, RUT, or Multi-List trading crowds. Participating TPHs must join from their off-site locations and not from the Cboe Trading Floor. Please click title for complete details. -
August 7, 2025
Reminder - Cboe Options Exchanges Add Nanosecond Transaction Time Resolution to Market Data and Order Entry Effective September 8, 2025, all Cboe-affiliated U.S. Options Exchanges will update the DateTime and Time Offset data types to provide nanosecond precision transaction time in the market data feeds listed below. -
August 5, 2025
Reminder - Cboe Options Announces Forced Opening Mechanism for Proprietary Classes in Wide Markets Effective trade date August 11, 2025, subject to regulatory review, all Cboe-affiliated U.S. Options Exchanges will modify the opening mechanism for proprietary classes, excluding the VSA constituent series, to include a force open timer. -
August 1, 2025
Update - Bi-Annual Review of Cash-Settled FLEX ETF Options Effective August 1, 2025, as part of the bi-annual review provision regarding the listing of cash-settled FLEX Exchange-Traded Fund (ETF) options, any underlying ETF that has an average daily notional value of $500 million or more and a national average daily volume of at least 4,680,000 shares measured from January 1 through June 30, 2025, will be available for FLEX cash-settlement. Cash-settlement as a flexible contract term will be permitted for no more than 50 underlying ETFs. Any underlying ETF that no longer meets these criteria will no longer be available for FLEX cash-settlement. -
August 1, 2025
Cboe Traders Weekly for Friday, August 1, 2025 -
August 1, 2025
Penny Program - Additional Classes to be Added All Cboe-affiliated US Options Exchanges (BZX Options, Cboe Options, C2 Options, and EDGX Options) will add the following new issues to the Penny Program on the effective date listed below. -
July 31, 2025
Bi-Annual Review of Cash-Settled FLEX ETF Options Effective August 1, 2025, as part of the bi-annual review provision regarding the listing of cash-settled FLEX Exchange-Traded Fund (ETF) options, any underlying ETF that has an average daily notional value of $500 million or more and a national average daily volume of at least 4,680,000 shares measured from January 1 through June 30, 2025, will be available for FLEX cash-settlement. Cash-settlement as a flexible contract term will be permitted for no more than 50 underlying ETFs. Any underlying ETF that no longer meets these criteria will no longer be available for FLEX cash-settlement. -
July 28, 2025
Final Reminder - Cboe VPN Firewall Migration - Action Required Effective immediately, Cboe Network Engineering and Network Security are migrating all existing IPSec tunnels to new infrastructure service platforms. -
July 28, 2025
Update - Cboe Options Exchange MSCI ACWI LMM Solicitation Cboe Options (the “Exchange”) will be accepting applications from interested Trading Permit Holders (TPHs) for the Lead Market-Maker (LMM) role in the Regular Trading Hours (RTH) session for MSCI ACWI options (Symbol: MXACW) for the purposes of the MSCI ACWI LMM Incentive Program (“Program”), subject to regulatory review.