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. Information about our flagship Cboe Options Exchange can be found at www.cboe.com, while details for our Cboe BZX Options, C2 Options and EDGX Options Exchanges can be found on this website.
Cboe Options Exchange
- Hybrid, Classic Model
- Open outcry and electronic exchange
Cboe C2 Options Exchange
- Pro-Rata, Maker-Taker Model
- All-electronic exchange
Cboe BZX Options Exchange
- Price-Time, Maker-Taker Model
- All-electronic exchange
Cboe EDGX Options Exchange
- Classic Pro-Rata/Customer Priority/DMM Model
- All-electronic exchange
Technology Migration
The Cboe Options Exchange is migrating to our proprietary and market-leading Bats technology. With a history of performing seamless technology integrations, we are working through a detailed migration plan that requires minimal disruption for customers and vendors. For more information regarding our technology migration plans, visit: Cboe.com/BatsIntegration.
Quick Links
Summary of market volume and market share on the Cboe U.S. options exchanges.
Most Active
The current, most actively traded securities on the Cboe BZX, EDGX and C2 Options Exchanges.
Latest News
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Penny Pilot Program – Replacement Classes to be added on July 3, 2018
Effective Tuesday, July 3, 2018, the Cboe Options Exchanges (Cboe, C2, BZX and EDGX Options) will replace five delisted issues in the Penny Pilot with the next most active, multiply-listed issues not yet in the Penny Pilot Program. Please click the title for complete details.
June 22, 2018
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Rejection of All-or-None (“AON”) Orders in Proprietary Option Classes on Cboe – Update
The functionality to systematically reject AON orders in proprietary classes, announced in Cboe Exchange Inc. (“Cboe Options”) Regulatory Circular RG17-155 , was implemented on April 9, 2018. This Exchange Notice updates the previously issued Regulatory Circular to clarify that AON orders are not permitted at all in proprietary classes traded on Cboe Options. This means not only will the system reject electronic AON orders in these classes, but also that floor brokers are prohibited from representing AON orders in these classes in open outcry. Please click the title for complete details.
June 21, 2018
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Summary of Recent and Upcoming Modifications to Openings on the Cboe Options Exchange
Beginning at the end of Q1 2018 and continuing into the next quarter, Cboe Exchange, Inc. (“Cboe Options”) has implemented and will continue to implement enhancements and modifications intended to improve certain attributes of the opening process. Please click the title for complete details.
June 19, 2018
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Modifications to the General Opening Sequence of Series in Option Classes Traded on the Cboe Options Exchange
Cboe Exchange, Inc. (“Cboe Options”) is pleased to announce that beginning July 16, 2018, modifications to the sequence in which the system opens series in an options class will be introduced. Please click the title for complete details.
June 19, 2018
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Cboe Options Exchange Opening Timer Updates
Beginning June 18, 2018, adjustments will be made to several timers used by Cboe Options Exchange (“Cboe Options”) in its automated opening process. The changes will be rolled out for all option classes traded on Cboe Options during both Regular Trading Hours (RTH) and Global Trading Hours (GTH). Rollout is expected to be complete by June 25, 2018. Please click the title for complete details.
June 15, 2018
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Trading Location Change of MSCI on Cboe Options Exchange
Effective Monday, June 18, 2018, the trading location of the MSCI EAFE Index (MXEA) and MSCI Emerging Market Index (MXEF) on Cboe Options Exchange (“Cboe Options”) will change from Post 5 Station 10 to Post 12 Station 1. Please click the title for complete details.
June 15, 2018
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Reminder: Cboe Global Markets to Introduce Cboe Opening Auction Feed Effective July 9, 2018
As previously announced, Cboe Global Markets will be introducing the Cboe Opening Auction Feed, which will be launched on Cboe Options Exchange (“Cboe Options”) effective Monday, July 9, 2018. Please click on the title for complete details.
June 15, 2018
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Restrictions on Transactions in China Zenix Auto International Limited (ZX) on Cboe Options Exchange
Effective June 15, 2018, China Zenix Auto International Limited (ZX) was delisted from the NYSE and moved its listing to the Other-OTC Market under the symbol ZX. Therefore, trading in ZX options will be subject to restrictions. Please click on the title for complete details.
June 14, 2018
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Frequent Trader ID Field Re-activation on Cboe Trade Match (CTM) Terminal
Effective Monday, June 18, 2018, the Frequent Trader ID field enhancement will be re-activated on the Cboe Options Exchange CTM terminal trade browse screen. Please click on the title for complete details.
June 14, 2018
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PAR Redesign (PAR 2.0) Update
As previously announced, Cboe Options will launch a redesign of its Public Automated Routing (PAR) application in Q4 2018. The new platform, called PAR 2.0, incorporates a new GUI user experience (UX), new functionality and will interact with the Cboe legacy system. Installation of new hardware to support PAR has already been completed. Please click the title for complete details.
June 14, 2018
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Cboe Options Exchange Selects MSCI Lead Market-Maker
Cboe Options Exchange (“Cboe Options”) is pleased to have selected Susquehanna Securities as the Lead Market-Maker (“LMM”) in the Regular Trading Hours (“RTH”) session for the MSCI EAFE Index (MXEA) and MSCI Emerging Markets Index (MXEF). Susquehanna’s appointment will begin on June 12, 2018. Please click the title for complete details.
June 11, 2018
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Cboe Equities and Options Exchanges Market Wide Circuit Breaker Testing Opportunity on Saturday, June 16, 2018
In coordination with the Security Information Processors (SIPs) Cboe BYX Exchange, BZX Exchange, EDGA Exchange, EDGX Exchange, Cboe Options Exchange, C2 Options Exchange, BZX Options Exchange, and EDGX Options Exchange will be participating in the Quarterly SIP failover and Market-wide Circuit Breaker (MWCB) test on Saturday, June 16, 2018 between 9:00 am and 11:30 am ET. Please click the title for complete details.
June 5, 2018
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Restrictions on Transactions in Pengrowth Energy Corporation (PGH) on Cboe Options Exchange
Effective June 4, 2018, Pengrowth Energy Corporation (PGH) was delisted from the NASDAQ and moved its listing to the Other-OTC Market under the symbol PGHEF. Therefore, trading in PGHEF options will be subject to restrictions. Please click on the title for complete details.
June 4, 2018
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Semi-Annual Account Administrator Attestation
Effective starting July 1, 2018, Cboe Global Markets will begin performing a semi-annual validation to confirm customer’s designated Account Administrators are accurate and up to date. A weekly reminder email will be sent to each Account Administrator starting four weeks prior to the attestation deadline. Only one Account Administrator is required to complete the attestation for each firm, and once completed, the reminder emails will cease. If the attestation has not been completed by the deadline, then all Account Administrator privileges will be removed for the firm, and the firm will be required to work with Cboe Membership Services to setup new Account Administrators. Please click the title for complete details.
June 4, 2018
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Order by Order FIX Drop by OCC Clearing Number for Cboe Options Exchanges
Effective June 8, 2018, Cboe BZX Options Exchange, EDGX Options Exchange and C2 Options Exchange will be releasing support for providing ODrop data by OCC Clearing Number. Presently, ODrop data filtering may be done by EFID, EFID Owner, Port Owner, and Logical Session. Please click the title for complete details.
June 1, 2018
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Cboe C2 Options Exchange Fee Schedule Changes Effective June 1, 2018
As previously announced, effective Friday, June 1, 2018, the Cboe Global Markets Fee Schedule will be amended for C2 Physical Connectivity and C2 Market Data Connectivity, subject to regulatory review.
Please review the previous notice for detail regarding the changes. Please click the title for complete details.
May 31, 2018
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Technology and New Products (“TNP”) Meeting Update
Cboe offers a monthly TNP conference call for Cboe customers that has focused mainly on technology and business topics of interest to Trading Permit Holders (“TPHs”) trading on Cboe options exchanges (i.e. Cboe Options, C2 Options, BZX Options and EDGX Options) and Cboe Futures Exchange (“CFE”). Going forward, Cboe plans to expand the range of topics to include trading on Cboe’s BZX, BYX, EDGA and EDGX equities exchanges as well as other Cboe product offerings. Please click the title for complete details.
May 31, 2018
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Operational Setting Changes for Cboe Options Acceptable Price Range (APR) and Opening Exchange Prescribed Width (OEPW) Update
On May 4, 2018, Cboe Options issued a Notice announcing changes to the operational system settings for the option classes whose series are used to calculate exercise settlement values for expiring volatility index derivatives on their respective expiration dates. Cboe Options implemented the changes to those settings on May 16, 2018. This Notice updates certain information in that previously issued Notice, but is not changing any operational settings. Please click the title for complete details.
May 25, 2018
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Restrictions on Transactions in Longfin Corp. (LFIN) on C2 Options Exchange
Effective May 23, 2018, Longfin Corp. (LFIN) was delisted from the NASDAQ and moved its listing to the Other-OTC Market under the symbol LFIN. Therefore, trading in LFIN options will be subject to restrictions. Please click on the title for complete details.
May 23, 2018
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Restrictions on Transactions in Longfin Corp. (LFIN) on Cboe Options Exchange
Effective May 23, 2018, Longfin Corp. (LFIN) was delisted from the NASDAQ and moved its listing to the Other-OTC Market under the symbol LFIN. Therefore, trading in LFIN options will be subject to restrictions. Please click on the title for complete details.
May 23, 2018
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Reminder: Cboe Options Exchange Market Maker Complex Orders in VIX
As described in the April 18 Exchange Notice, beginning May 21, 2018, pursuant to Rule 6.53C(c), Cboe Exchange, Inc. (“Cboe Options”) will allow intra-day Market-Maker complex orders to rest in the Complex Order Book (COB) in option symbol VIX in certain specific circumstances. Please click the title for complete details.
May 16, 2018
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Restrictions on Transactions in RAIT Financial Trust (RAS) on Cboe Options Exchange
Effective May 14, 2018, RAIT Financial Trust (RAS) was delisted from the NYSE. Therefore, trading in RAS options will be subject to restrictions. Please click on the title for complete details.
May 14, 2018
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Restrictions on Transactions in LiNiu Technology Group (LINU) on Cboe Options Exchange
Effective May 14, 2018, LiNiu Technology Group (LINU) was delisted from the NASDAQ and moved its listing to the Other-OTC Market under the symbol LINUF. Therefore, trading in LINUF options will be subject to restrictions. Please click on the title for complete details.
May 14, 2018
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Restrictions on Transactions in Synchronoss Technologies, Inc. (SNCR) on Cboe Options Exchange
Effective May 14, 2018, Synchronoss Technologies, Inc. (SNCR) was delisted from the NASDAQ and moved its listing to the Other-OTC Market under the symbol SNCR. Therefore, trading in SNCR options will be subject to restrictions. Please click on title for complete details.
May 14, 2018
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Notice Regarding Cboe Connectivity Services Agreement and Extranet Addendum
In connection with the migration of Cboe C2 Exchange, Inc. (“C2”) to the Bats technology platform scheduled for May 14, 2018, the Connectivity Services Agreement and the Extranet Addendum to the Connectivity Services Agreement (collectively, the “Agreement”) has been partially assigned to C2 and subsequently amended. Please click the title for complete details.
May 11, 2018
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PULSe Trader Workstation C2 Access Enhancement Release 4.10.0
The PULSe application has been enhanced to incorporate the required routing modifications for PULSe users with Cboe C2 Options Exchange Trading Permits to route to C2 upon its migration to Bats Technology on May 14, 2018. PULSe users will be notified in advance of the rollout to their specific terminals. Please click the title for complete details.
May 11, 2018
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Restrictions on Transactions in EV Energy Partners, L.P. (EVEP) on Cboe Options Exchange
Effective May 11, 2018, EV Energy Partners, L.P. (EVEP) was delisted from the NASDAQ and moved its listing to the Other-OTC Market under the symbol EVEPQ. Therefore, trading in EVEPQ options will be subject to restrictions. Please click on the title for complete details.
May 11, 2018
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Reminder: Time Interval Decrease for Expected Opening Information Messages for Cboe Options Exchange
Beginning May 9, 2018, Cboe Exchange, Inc. (“Cboe Options”) will roll out a decrease in the time interval between expected opening information (“EOI”) messages that are disseminated by the System during the pre-open. Please click the title for complete details.
May 8, 2018
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Time Interval Decrease for Expected Opening Information Messages
Beginning May 9, 2018, Cboe Exchange, Inc. (“Cboe Options”) will roll out a decrease in the time interval between expected opening information (“EOI”) messages that are disseminated by the System during the pre-open. EOIs contain information based on resting orders and quotes in the Book, which may include the expected opening price (“EOP”), the expected opening size (“EOS”), any reason why a series may not open (e.g., no quote, opening trade price would be outside OEPW range) and any imbalance information, including the size and side of an imbalance. Please click the title for complete details.
May 7, 2018
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Operational Setting Changes for Cboe Options Acceptable Price Range (APR) and Opening Exchange Prescribed Width (OEPW)
Effective Wednesday, May 16, 2018, Cboe Options will change the operational system settings for the option classes whose series are used to calculate exercise settlement values for expiring volatility index derivatives on their respective expiration dates. Please click the title for complete details.
May 4, 2018
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Updates to Cboe Global Markets, Inc. Privacy Notice and Policy
Updates to Cboe Global Markets, Inc. Privacy Policy.
Please click the title for complete details.
May 3, 2018
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Cboe Announces Availability of RSS Feed for Technical Specification Updates
Cboe is pleased to announce the availability of a RSS Feed that may be used to subscribe to technical specification updates. The feed is available for all technical specifications (including order entry and market data specifications) published to the markets.cboe.com website and includes specifications for the Cboe U.S. Equities, U.S. Options, and U.S. Futures Exchanges. To subscribe to the RSS Feed navigate to the “Technical Specifications” page for any market, and click the green RSS image at the top of the page. This will take you to the RSS feed and provide a URL that can be pasted into any RSS reader. Please click the title for complete details.
May 2, 2018
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Cboe Options Exchange Fee Schedule Update Effective May 1, 2018
Effective May 1, 2018, the Exchange will no longer be assessing the $0.30 per contract Marketing Fee on transactions in RUT, subject to regulatory approval. Please click title for complete details.
April 30, 2018
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BZX Options, EDGX Options, C2 Options and CFE to Add Optional Mass Cancel ID, Change Length of Binary Protocol Purge Rejected Message
BZX Options Exchange, EDGX Options Exchange, C2 Options Exchange and CFE are pleased to announce the addition of MassCancelId as an optional bitfield on Binary Order Entry (BOE) Purge Rejected messages effective on the dates in the Rollout Schedule below. The MassCancelId, if sent, will allow customers to tie a Purge Rejected message back to a Purge Orders request.
Important: The addition of an optional bitfield will change the length of the Purge Rejected message in BOE across all four exchanges, even if the new optional bitfield is not requested on Login. Please click the title for complete details.
April 26, 2018
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Restrictions on Transactions in Erin Energy Corp. (ERN) on Cboe Options Exchange
Effective April 26, 2018, Erin Energy Corp. (ERN) was delisted from the AMEX. Therefore, trading in ERN options will be subject to restrictions. Please click on the title for complete details.
April 26, 2018
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Restrictions on Transactions in Argos Therapeutics, Inc (ARGS/ARGS1) on Cboe Options Exchange
Effective April 24, 2018, Argos Therapeutics, Inc (ARGS) was delisted from the NASDAQ. Therefore, trading in adjusted symbol ARGS1 options will be subject to restrictions. Please click on the title for complete details.
April 25, 2018
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Restrictions on Transactions in Westmoreland Coal Company (WLB/WLBA) on Cboe Options Exchange
Effective April 24, 2018, Westmoreland Coal Company (WLB) was delisted from the NASDAQ and moved its listing to the Other-OTC Market under the symbol WLBA. Therefore, trading in WLBA options will be subject to restrictions. Please click on the title for complete details.
April 25, 2018
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April 2018 Compression Forum Update
Pursuant to Rule 6.56, Cboe Exchange, Inc. (“the Exchange”) holds open outcry compression forums... Beginning on April 25, 2018, participating firms will be able to select an unmask preference on the Compression Forum Manager (“CFM”) Dashboard page.
April 24, 2018
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Letter from Ed Tilly and Chris Concannon
Letter from Ed Tilly and Chris Concannon regarding the VIX Index. Please click on the title for complete details.
April 23, 2018
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Letter from Ed Tilly and Chris Concannon
Letter from Ed Tilly and Chris Concannon regarding the VIX Index. Please click on the title for complete details.
April 23, 2018
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Market Maker Complex Orders in VIX
Beginning May 21, 2018, pursuant to Rule 6.53C(c), Cboe Exchange, Inc. (“Cboe Options”) will allow intra-day Market-Maker complex orders to rest in the Complex Order Book (COB) in option symbol VIX in certain specific circumstances. Please click the title for complete details.
April 18, 2018
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Cboe to Observe Moment of Silence on Wednesday, April 18, 2018
Cboe will join other market participants in observing a one minute moment of silence at 9:20 a.m. ET to pay respect to Barbara Bush. While trading will not be affected, we encourage market participants to join us in silent tribute to the former first lady.
April 18, 2018
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Cboe Options Exchange Fee Schedule Update Effective April 16, 2018
Effective Monday, April 16, 2018, Cboe will introduce the following pricing change on the Cboe Options Exchange, subject to regulatory approval. Please click title for complete details.
April 16, 2018
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Cboe Options Exchange PAR Enhancements – Complex Order Sweep; Trade Individual Legs of a Complex Order
Beginning April 16, 2018, a rollout of the following PAR enhancements for Cboe Options Exchange will commence:
Complex Order Sweep - will permit a PAR user to sweep orders in the single-leg (simple) and complex order books based on the price of the PAR order. Note the Sweep function is not applicable to orders that include a stock leg.
Trade Individual Legs of a complex order – will allow the PAR user to more easily trade a leg of a PAR complex order with the simple book.
Please click the title for complete details.
April 13, 2018
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Restrictions on Transactions in Various Barclays ETN Options on Cboe Options Exchange
Effective after the close of trading on April 12, 2018, Barclays Bank PLC delisted certain existing commodity ETNs from the NYSE Arca exchange. Please click on the title for complete details.
April 13, 2018
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Frequent Trader ID Field Inactivated on Cboe Trade Match (CTM) Terminal
Effective Friday, April 13, 2018, the Frequent Trade ID field enhancement which was introduced on March 19, 2018, will be inactivated. Please click the title for complete details.
April 12, 2018
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Restrictions on Transactions in NTT DOCOMO, Inc (DCM) on Cboe Options Exchange
Effective April 12, 2018, NTT Docomo, Inc (DCM) was delisted from the NYSE and moved its listing to the Other-OTC Market under the symbol DCMYY. Please click on the title for complete details.
April 12, 2018
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EDGX Options and CFE to Populate CumQty on Leg Fills Related to Complex Executions
Cboe EDGX Options Exchange and Cboe Futures Exchange (“CFE”) are pleased to announce the release of new functionality that will allow for CumQty (FIX Tag 14) to be populated on leg fills related to complex executions. Currently, the CumQty field is zero-filled for all such executions. This change will also be applied to the new C2 Options platform operating on Bats technology which is launching on May 14, 2018, subject to regulatory review. Please click the title for complete details.
April 10, 2018
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Corporate Action for Various Barclays ETN Options
The Options Clearing Corporation (OCC) has informed BZX, Cboe, C2 and EDGX Options Exchanges (“The Exchanges”) that Barclays Bank PLC plans to delist certain existing commodity ETNs (“Existing ETNs’) from the NYSE Arca exchange after the close of trading on April 12, 2018. Please click on the title for complete details.
April 10, 2018
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SPX Conversion to Hybrid Town Hall Discussion
Market Structure and Functionality (MSF) will host a second Town Hall meeting to provide details related to the SPX conversion to Hybrid. Trading Permit Holders including Market-Makers, PAR Brokers, and Compliance Officers are strongly encouraged to attend. Please click the title for complete details.
April 6, 2018
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PULSe Trader Workstation Enhancement Release 4.9.0
A Cboe Exchange Notice issued on March 2, 2018, announced updates to system functionality scheduled for activation the 2nd quarter of 2018 pending rule approval. These functional enhancements include:
Qualified Contingent Cross (QCC) orders with an equity leg
Improved pricing precision on complex orders with an equity leg
A separate Cboe Exchange Notice will be issued announcing a specific effective date for these enhancements. Please click the title for complete details.
April 6, 2018
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Cboe Trade Floor Power Modifications
The Cboe Facilities and Technology departments have jointly been working to modify and enhance the electrical utility sourced power to the Trading Floor. On Friday, April 20, 2018, the Facilities Department will facilitate the second phase of the Trading Floor power transition. Please click on the title for complete details.
April 6, 2018
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Listing of Options on Spotify Technology, SA (SPOT)
Cboe, C2, BZX and EDGX Options Exchanges (“The Exchanges”) plan to list options on Spotify Technology, SA. (SPOT). Please click on the title for complete details.
April 5, 2018
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Restrictions on Transactions in Celadon Group, Inc. (CGIP) on Cboe Exchange
Effective April 4, 2018, Celadon Group, Inc. (CGIP) was delisted from the NYSE. Therefore, trading in CGIP options will be subject to restrictions. Please click on the title for complete details.
April 4, 2018
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Restrictions on Transactions in Orexigen Therapeutics Inc. (OREXQ) on Cboe and C2 Exchanges
Effective April 4, 2018, Orexigen Therapeutics Inc. (OREXQ) was delisted from the NASD. Therefore, trading in OREXQ options will be subject to restrictions. Please click on the title for complete details.
April 4, 2018
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Cancellation of Good-Till-Cancel (“GTC”) All-or-None (“AON”) Orders in Proprietary Option Classes on Cboe
In conjunction with the planned disallowance of AON orders in Cboe Options (“Cboe”) proprietary classes, announced in the Trade Desk Notice dated March 22, 2018, Cboe will initiate cancellations of resting GTC AON orders in Regular Trading Hours (RTH) beginning April 6, 2018. Rejection of incoming RTH AON orders will be implemented the day following the cancellation of GTCs. Please click on the title for complete details.
April 4, 2018
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Cboe Options Exchange Fee Schedule Update Effective April 2, 2018
Effective Monday, April 2, 2018, Cboe will introduce the following pricing change on the Cboe Options Exchange, subject to regulatory approval. Please click on the title for complete details.
April 2, 2018
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Important C2 Options Exchange Integration Update Reminder
Cboe C2 Options Exchange (“C2”) is pleased to announce integration remains on track for a May 14, 2018 migration to Bats technology, subject to regulatory review. All milestones have been achieved on target, all weekend and weekday tests have been successful, and as the new platform go-live date quickly approaches, the Cboe team continues to work hard to ensure C2 customer readiness. Please click the title for complete details.
March 29, 2018
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Restrictions on Transactions in Willbros Group, Inc (WG) on Cboe, C2, BZX and EDGX Options Exchanges
Effective March 27, 2018, Willbros Group, (WG) was delisted from the NYSE. Therefore, trading in WG options will be subject to restrictions. Please click on the title for complete details.
March 27, 2018
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Restrictions on Transactions in CCUR Holdings, Inc (CCUR) on Cboe, C2, BZX and EDGX Options Exchanges
Effective March 27, 2018, CCUR Holdings, (CCUR) was delisted from the NASDAQ. Therefore, trading in CCUR options will be subject to restrictions. Please click on the title for complete details.
March 27, 2018
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SPX Conversion to Hybrid Platform - Update
Effective April 30, 2018, Cboe Exchange, Inc. (“Cboe Options”) will convert A.M.-settled SPX options series currently traded on the Hybrid 3.0 trading platform during Regular Trading Hours (RTH) to the standard Hybrid trading platform. The symbol for these series will remain SPX. Please click the title for complete details.
March 23, 2018
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Cboe Options Fingerprint Processing Changes
Cboe Exchange, Inc. (“Cboe Options” or the “Exchange”) will be implementing several changes to the way fingerprints are processed and disseminated to Trading Permit Holders and their employees (collectively, “TPHs”) effective immediately. Please click the title for complete details.
March 22, 2018
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Rejection of All-or-None (“AON”) Orders in Proprietary Option Classes on Cboe - Update
The functionality rollout to systematically reject AON orders in proprietary classes, announced in Cboe Exchange Inc. (“Cboe Options”) Regulatory Circular RG17-155 , has been delayed from April 2, 2018 and will commence on April 9, 2018. Please click the title for complete details.
March 22, 2018
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Cboe Holiday Reminder – Closed on Friday, March 30, 2018
Cboe BYX Exchange, BZX Exchange, EDGA Exchange, EDGX Exchange, Cboe Options Exchange, C2 Options Exchange, BZX Options Exchange, and EDGX Options Exchange will be closed on Friday, March 30, 2018 in observance of Good Friday. Please click on the title for complete details.
March 21, 2018
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March 2018 Compression Forum Update
After receiving TPH feedback, Cboe Exchange, Inc. (“the Exchange”) has, pursuant to Rule 6.56, increased the frequency of compression forums. Beginning on March 23, 2018, the Exchange will hold open outcry compression forums from 10:00 am CT to 2:00 pm CT on the last business day of each week, the final three business days of each non-quarterly month (i.e., JAN, FEB, APR, MAY, JUL, AUG, OCT, and NOV), and the final five business days of each quarterly month (i.e., MAR, JUN, SEP, and DEC). Please click on the title for complete details.
March 20, 2018
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Solicitation for MSCI Lead Market-Makers (“LMM”)
Cboe Exchange, Inc. (“Cboe Options”) will be accepting applications by qualifying Trading Permit Holders for the Lead Market-Maker (“LMM”) role in the Regular Trading Hours (“RTH”) session for options on the MSCI EAFE Index (MXEA) and MSCI Emerging Markets Index (MXEF). Please click the title for complete details.
March 16, 2018
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Cboe Trade Floor Power Modifications
The Cboe Facilities and Technology departments have jointly been working to modify and enhance the electrical utility sourced power to the Trade Floor. On Friday, March 30, 2018 (Good Friday), the Facilities Department will facilitate the first phase of the Trade Floor power transition. Please click the title for complete details
March 15, 2018
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Frequent Trader ID Field Available on Cboe Trade Match (CTM) Terminal
Effective Monday, March 19, 2018, a new Frequent Trader ID (FTID) field will be available on the Cboe Options Exchange CTM terminal trade browse screen. This enhancement will allow Trading Permit Holders (TPHs) to add or modify FTID information on post-trade records for the current business day. Please click on the title for complete details.
March 15, 2018
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PAR Redesign (PAR 2.0) Announced
As part of its migration to Bats technology, Cboe Options is pleased to announce a redesign of its Public Automated Routing (PAR) application used by brokers on the Cboe Options trading floor to execute and manage orders. The new application will be called PAR 2.0. PAR 2.0 will introduce both a new user experience (UX) and functionality. PAR 2.0 will be launched in two phases. Please click the title for complete details.
March 8, 2018
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Execution Reports on Complex Orders with Stock
Cboe Exchange, Inc. (“Cboe Options”) will be implementing changes to address two current system behaviors related to execution reports on complex orders that include a stock leg. The changes are expected to be effective the week of March 26. Please click the title for complete details.
March 8, 2018
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Final Reminder: Cboe BZX and EDGX Options Exchanges to Introduce Multicast Top Feed
As part of the previously announced migration of the C2 Options Exchange to the Bats technology platform, the BZX Options and EDGX Options Exchanges will introduce a Multicast Top Feed for the single leg options book per the below Rollout Schedule. Please click the title for complete details.
March 8, 2018
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Cboe to Begin Automatic Removal of Unused Certification Logical Ports Effective March 15, 2018
Effective March 15, 2018, logical ports unused in the BZX Equities, BYX Equities, EDGX Equities, EDGA Equities, BZX Options, EDGX Options, and CFE Certification environments for the last four (4) months will be deleted. Furthermore, following the effective date the Exchanges will periodically perform a similar sweep for inactive Certification ports and remove any unused sessions automatically without notice. Cboe Options and C2 Options Certification logical ports will not be automatically deleted until those systems are fully migrated to Bats technology. Please click the title for complete details.
March 8, 2018
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Cboe Options Exchange Announces Support for QCC with an Equity Leg and Improved Pricing Precision on Complex Orders with an Equity Leg
Cboe Options Exchange (“Cboe Options”) is pleased to announce it will be implementing two updates to system functionality in the 2nd quarter of 2018, pending rule approval. QCC orders will be allowed to include a stock leg; and complex orders with a stock leg will allow the stock leg to have a price with four decimal places of precision. Please click the title for complete details.
March 2, 2018
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SPX Firm Acronym Appointment
Currently, Cboe Exchange, Inc. (“Cboe Options”) Market-Maker Trading Permit Holders (TPHs) are permitted to set up one or more SPX Universal Firm Acronyms (SPX-UFAs) to aggregate quote and order bandwidth allowances from multiple permits related to Market-Makers or quote/order bandwidth packets in SPX and/or SPXW. A SPX-UFA is used to allow a firm to conduct electronic business (i.e., auction responses, quotes and/or orders) using a constant acronym as well as to comply with SPX in-crowd obligations. The SPX-UFA is not attached to an actual trading permit and is not charged the SPX Tier Appointment fee. Please click the title for complete details.
March 1, 2018
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Solicitation for SPX Lead Market-Makers (“LMMs”) During Regular Trading Hours (“RTH”)
Cboe Options Exchange (“Cboe Options”) is accepting applications from qualifying Trading Permit Holders to serve as LMMs during the RTH session for options on the S&P 500 Index that are a.m.-settled with third-Friday of the month expirations (symbol SPX). These appointments will apply upon conversion of SPX options to the Hybrid trading platform. Please click on the title for more details.
February 27, 2018
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Reminder: Cboe BZX and EDGX Options Exchanges to Introduce Multicast Top Feed
As part of the previously announced migration of the C2 Options Exchange to the Bats technology platform, the BZX Options and EDGX Options Exchanges will introduce a Multicast Top Feed for the single leg options book per the below Rollout Schedule (pending regulatory review). Please click the title for complete details.
February 27, 2018
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Drill-Through Price Protection Settings Update
Cboe Options Exchange is updating the settings for the drill through price protection feature, which is designed to reduce the risk of extreme and potentially erroneous executions. The update will be installed Monday, February 26, 2018. Please click the title for complete details.
February 22, 2018
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Frequent Trader ID Field Displayed on C2 Trade Match (CTM) Terminal – Update
Effective Monday, February 26, 2018, a new Frequent Trader ID field will be displayed on the C2 Options Exchange (C2) CTM terminal trade browse screen. Currently this field is for display purposes only as the Frequent Trader ID Program is not yet in effect on C2. It is being displayed on the C2 CTM terminal to ensure consistency with the look and feel of the terminal display on both C2 and Cboe Options Exchanges. The Frequent Trader ID field is scheduled to rollout to the Cboe Options Exchange CTM terminal in the first quarter of 2018. Please click the title for complete details.
February 22, 2018
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PULSe Trader Workstation Enhancement Release 4.8.0
Rollout of the following PULSe enhancements will begin February 26, 2018.
- PULSe connectivity to Cboe Futures Exchange, LLC (“CFE”) on Bats technology
- Enhanced AIM Multi-Contra Support. Please click the title for complete details.
February 21, 2018
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February 2018 Compression Forum Update
Pursuant to Rule 6.56, the Cboe Exchange, Inc. (“the Exchange”) holds open outcry “compression forums” on the final three business days of every calendar month to facilitate closing transactions in series of S&P 500 Index options (i.e., SPX and SPXW) from 10:00 am CT to 2:00 pm CT. Please click the title for complete details.
February 21, 2018
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Frequent Trader ID field displayed on C2 Trade Match (CTM) terminal - Update
The C2 TradeMatch terminal implementation scheduled to be installed February 20th has been delayed. Please click the title for complete details.
February 20, 2018
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Monday-Expiring Weekly Options in SPY - Update
The Cboe Options Exchanges (Cboe, C2, BZX and EDGX Options Exchanges) filed to trade Weekly options on the SPDR S&P 500 ETF Trust (SPY) which expire on Mondays (SPY Monday-expiring Weekly options). The rule filing became effective upon filing on February 15, 2018. Thus, Cboe Options Exchanges will list for trading SPY Monday-expiring Weekly options effective February 16, 2018. Please click the title for complete details.
February 15, 2018
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Frequent Trader ID field displayed on C2 Trade Match (CTM) terminal effective February 20, 2018
Effective Tuesday, February 20, 2018, a new Frequent Trader ID field will be displayed on the C2 Options Exchange (C2) CTM terminal trade browse screen. Please click the title for complete details.
February 15, 2018
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Cboe Holiday Reminder – Closed on Monday, February 19, 2018
Cboe BYX Exchange, BZX Exchange, EDGA Exchange, EDGX Exchange, Cboe Options Exchange, C2 Options Exchange, BZX Options Exchange, and EDGX Options Exchange will be closed on Monday, February 19, 2018 in observance of Presidents’ Day. Normal trading will resume on Tuesday, February 20, 2018.
February 13, 2018
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PAR Enhancements
Rollout of the following PAR enhancements will begin February 13, 2018:
An improved method for trading a PAR order with customer book orders (TB), and,
Improved notification when the PAR order price is equal to the same side as resting customer book orders.
Please click the title for complete details.
February 8, 2018
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SPX Firm Acronym Appointment - Update
Due to market volatility the SPX Firm acronym (SFA) new functionality targeted to be installed February 12th has been delayed. A future notice will be disseminated announcing the installation date. Please refer to the previously-published notice for further information on this change. Please click the title for complete details.
February 8, 2018
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Cboe BZX and EDGX Options Exchanges to Increase Frequency of Symbol Mapping Messages within 5G-Shaped Multicast PITCH Feeds
The Cboe BZX and EDGX Options Exchanges will increase the frequency by which Symbol Mapping messages are sent over the 5 Gigabit-Shaped (“5G-Shaped”) single leg Multicast PITCH feeds per the Rollout Schedule below. The change will allow members who consume the 5G-Shaped Multicast PITCH feeds to receive the full list of symbols in approximately 5 minutes, and will allow for optimal distribution in situations where market data is susceptible to throttling as a result of high message burst rates. All 1 Gigabit-Shaped (“1G-Shaped”) feeds will continue to complete the full loop of Symbol Mapping messages in approximately 30 minutes.
February 7, 2018
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SPX Firm Acronym Appointment - Update
As a precaution due to market volatility, the SPX Firm Acronym (SFA) new functionality scheduled for February 5th has been delayed until February 12th. Please click the title for complete details.
February 2, 2018
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Cboe Options – February 1, 2018 Fee Changes
Currently, an additional monthly fee of $3,000 per month is assessed to any Floor Broker Trading Permit Holder (TPH) that executes more than 20,000 SPX contracts during the month. Effective February 1, 2018, pending SEC review, for multi-class broad based index option spreads with an SPX component executed by a Floor Broker, the SPX surcharge will not be applicable because these spread transactions also include non-SPX options. Please click the title for complete details.
February 2, 2018
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SPX Firm Acronym Appointment
Beginning February 5, 2018, SPX-UFAs will be renamed to SPX Firm Acronyms (SFAs) and new functionality will be implemented to allow TPHs to manage their SFA appointment via the Market Access Portal (MAP). Please click the title for complete details.
February 2, 2018
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SPX Conversion to Hybrid Town Hall Discussion
Trading Systems Development (TSD) will host a Town Hall meeting to provide details related to the SPX conversion to Hybrid. Trading Permit Holders including Compliance Officers, PAR brokers and Market-Makers are strongly encouraged to attend. Please click title for more details.
February 1, 2018
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Monday-Expiring Weekly Options in SPY
The Cboe Options Exchanges (Cboe, C2, BZX and EDGX Options Exchanges) plan to file to trade Weekly options on the SPDR S&P 500 ETF Trust (SPY) which expire on Mondays (SPY Monday-expiring Weekly options). Subject to rule filing effectiveness, Cboe, C2, BZX and EDGX Options anticipate listing SPY Monday-expiring Weekly options for trading on February 16, 2018. Please click the title for complete details.
February 1, 2018
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SPX Conversion to Hybrid Platform
As announced in RG17-136, Cboe Exchange, Inc. (“Cboe Options”) will be converting A.M.-settled SPX options series currently traded on the Hybrid 3.0 trading platform during Regular Trading Hours (“RTH”) to the standard Hybrid trading platform. The symbol for these series will remain SPX. Please click the title for complete details.
February 1, 2018
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Cboe BZX and EDGX Options Exchanges to Introduce Multicast Top Feed
As part of the previously announced migration of the C2 Options Exchange to the Bats technology platform, the BZX Options and EDGX Options Exchanges will introduce a Multicast Top Feed for the single leg options book per the below Rollout Schedule (pending regulatory review). Click the title for complete details.
January 30, 2018
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Trading Halt Notifications for Cboe and C2 Options Exchanges
Effective, February 1, 2018, Cboe and C2 Options Exchanges will discontinue the dissemination of option trading halt notifications via e-mail and text message. Please click the title for complete details.
January 30, 2018
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Stop Orders on Cboe Options
Beginning the week of Jan 29, with a rollout targeted to be completed February 2nd, Stop and Stop-Limit orders which can be triggered immediately upon receipt based upon the prevailing bid-ask on Cboe Options will be rejected back to the sender. Please click the title for complete details
January 26, 2018
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Cboe Options Exchange Announces Select Customer Options Reduction (“SCORe”) Program
This notice explains the new Select Customer Options Reduction (“SCORe”) program being introduced on Cboe Options Exchange. Please click the title for complete details.
January 26, 2018
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SPX Firm Acronym Appointment - Update
The SPX Firm Acronym (SFA) new functionality that had been announced with an installation date of January 29 has been delayed. Please refer to the notice published earlier this week for details on the change. A future notice will be disseminated when a new install date is known. Please click the title for complete details.
January 26, 2018
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SPX Firm Acronym Appointment
Beginning January 29, 2018, SPX-UFAs will be renamed to SPX Firm Acronyms (SFAs) and new functionality will be implemented to allow TPHs to manage their SFA appointment via the Market Access Portal (MAP). After clicking on the View Current Appointments button for an SFA within the Appointments tab, users will be able to select or deselect the SPX/SPXW class appointment for the SFA, as shown below.
Please click the title for complete details.
January 23, 2018
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Product Description for Wednesday Expiring Weekly Options in XSP
Commencing January 30, 2018, Cboe Exchange, Inc. (‘Cboe Options”) will list for trading Wednesday-expiring weekly options on the Mini-SPX Index (“XSP”), which is based on 1/10th the value of the Standard & Poor’s 500 Index. Please click the title for complete details.
January 23, 2018
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Change to Daily Closing Time for Options on Certain Exchange-Traded Products
Effective January 22, 2018, the Cboe Options Exchanges (Cboe, C2, BZX and EDGX Options) will be changing the daily closing time for options on certain exchange-traded products (ETPs) from 3:00 pm CT to 3:15 pm CT. Please click the title for complete details.
January 19, 2018
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Introducing PULSe Admin Web
Cboe is pleased to announce PULSe Admin Web, a risk management suite available to PULSe desktop users with Firm Administrator privileges. From PULSe Admin Web, Firm Administrators will have the ability to manage PULSe risk controls at the Firm, User, and Account levels, as well as run risk control reports. Please click the title for complete details.
January 18, 2018
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Cboe BZX and EDGX Options Exchanges to Introduce Multi-Day Open Order Functionality
As part of the previously announced migration of the C2 Options Exchange to the Bats technology platform, the BZX Options and EDGX Options Exchanges will introduce multi-day order functionality per the below Rollout Schedule (pending regulatory approval). The new functionality will allow Good ‘Til Cancel (GTC) and Good ‘Til Day (GTD) orders to persist over trading days. Please click the title for complete details.
January 12, 2018
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Final Reminder: Cboe BZX and EDGX Options Exchanges to Introduce Trade Condition Field on Single Leg Multicast PITCH Feed
As previously announced, the Cboe BZX and EDGX Options Exchanges will add a Trade Condition field for the single leg Multicast PITCH feed effective Tuesday, January 16, 2018. The Trade Condition field will allow customers to identify executions resulting from a complex (spread) trade. This field will be space-filled for non-complex trades, including for all trades that occur on the BZX Options Exchange.
January 12, 2018
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Electronic Only Orders - Update
The activation of Electronic Only orders on the Cboe Options Exchange described in RG17-147 is now scheduled for implementation on Friday, January 12, 2018. Please click the title for complete details.
January 9, 2018
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Informational Session Regarding Give Ups
On Thursday, January 4, Cboe will hold an informational session regarding potential changes to the Cboe Options Exchanges’ (Cboe, C2, BZX and EDGX Options) rules regarding the give up of a Clearing Trading Permit Holder/Member. The session will be held at 3:30 pm in Conference Room 4A of the Cboe building at 400 S. LaSalle Street in Chicago. Please click the title for complete details.
January 3, 2018
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Penny Pilot Program – Replacement Classes to be added on January 3, 2018 - Update
Effective Wednesday, January 3, 2018, the Cboe Options Exchanges (Cboe, C2, BZX and EDGX Options) will replace six delisted issues in the Penny Pilot with the next most active, multiply-listed issues not yet in the Penny Pilot Program. Please click the title for complete details.
January 2, 2018
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Reminder: Cboe EDGX Options Exchange Introduces Customer Indicator Field on Complex Multicast TOP Feed
As previously announced, Cboe EDGX Options Exchange will add a Customer Indicator field for the Complex Multicast TOP feed effective Monday, January 22, 2018. The Bit Fields field will allow users to identify when there are customer orders at the best bid or offer price on the Complex Order Book (“COB”). Click the title for complete details.
January 2, 2018
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Trader E-News
Trader E-news updates for December 22, 2017. Please click title for additional details.
December 22, 2017
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Penny Pilot Program – Replacement Classes to be added on January 3, 2018
Effective Wednesday, January 3, 2018, the Cboe Options Exchanges (Cboe, C2, BZX and EDGX Options) will replace five delisted issues in the Penny Pilot with the next most active, multiply-listed issues not yet in the Penny Pilot Program. Please click the title for complete details.
December 22, 2017
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Cboe Integration Update
Cboe is pleased to announce it will conduct its next customer integration call at 11:30 a.m. CT on January 9, 2018 to update customers regarding the migration of both CFE and C2 trading platforms to Bats technology as well as the CSMI Index data feed migration to NY5. During the call, we will update details regarding our data center strategy, the integration timeline, key transition dates, and additional information. Click the title for complete details.
December 20, 2017
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Cboe Holiday Reminder – Christmas and New Year’s Day
The below table sets forth the modified trading schedules for the Cboe Options Exchanges (Cboe, C2, BZX and EDGX Options), Cboe Futures Exchange (CFE), and the Cboe U.S. Equity Exchanges (BYX, BZX, EDGA and EDGX Equities) in observance of the Christmas and New Year’s Day holidays. Please click the title for complete details.
December 18, 2017
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Cboe EDGX Options Exchange Introduces Customer Indicator Field on Complex Multicast TOP Feed
Cboe EDGX Options Exchange is pleased to announce the addition of a Customer Indicator field for the Complex Multicast TOP feed effective Monday, January 22, 2018. The Bit Fields field will allow users to identify when there are customer orders at the best bid or offer price on the Complex Order Book (“COB”). Please click the title for complete details.
December 11, 2017
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Cboe BZX and EDGX Options Exchanges Introduce Trade Condition Field on Single Leg Multicast PITCH Feed
Cboe BZX and EDGX Options Exchanges are pleased to announce the addition of a Trade Condition field for the single leg Multicast PITCH feed effective Tuesday, January 16, 2018. The Trade Condition field will allow customers to identify executions that were the result of a complex (spread) trade. This field will be space-filled for non-complex trades, including for all trades that occur on the BZX Options Exchange. Please click the title for complete details.
November 27, 2017
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Cboe Introduces Customer Web Portal User Management
Effective immediately, Cboe is introducing a Customer Web Portal User Management privilege which will allow Account Admins to manage Web Portal account permissions for their firm. Account Admins can now create, edit, or disable Web Portal accounts from within the portal itself, as well as create and manage user roles specific to their firm. Please click the title for complete details.
November 27, 2017
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Cboe Holiday Reminder – Closed on Thursday, November 23, 2017 and Closing Early on Friday, November 24, 2017
The below table sets forth the modified trading schedules for the Cboe Options Exchanges (Cboe, C2,
BZX and EDGX Options), and the Cboe U.S. Equity Exchanges (BYX, BZX, EDGA and EDGX Equities) in
observance of the Thanksgiving holiday on November 23, 2017. Click the title for complete details.
November 16, 2017
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Cboe BZX and EDGX Options Exchanges Feature Pack 2
As part of the previously announced migration of the C2 Options Exchange to the Bats technology platform, the BZX Options and EDGX Options Exchanges will release Feature Pack 2 on December 8, 2017.
November 9, 2017
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Final Reminder: Bats EDGX Options Exchange to Introduce Complex Order Book Functionality
As previously announced, Bats EDGX Options Exchange will introduce Complex Order Book functionality on October 23, 2017. Support for the Complex Order Book is now available in the EDGX Options Certification environment, and further launch schedule details can be found on the Complex Order Book site. Click the title for more details.
October 13, 2017
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Bats Conformance Certification Tool Now Available
The Bats Conformance Certification tool, accessible from the Member Tools section of the Customer Web Portal, is now available to submit qualifying Certification testing to satisfy firm conformance requirements. Click the title for more details.
October 13, 2017
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Reminder: Bats EDGX Options Exchange to Introduce Complex Order Book Functionality
As previously announced, Bats EDGX Options Exchange will introduce Complex Order Book functionality on October 23, 2017.
September 13, 2017
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Reminder: Bats EDGX Options Exchange to Introduce Complex Order Book Functionality
As previously announced, Bats EDGX Options Exchange will introduce Complex Order Book functionality on October 23, 2017. Click the title for more details.
August 28, 2017
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Bats Reports Third Quarter Net Income Growth of 13%
Announces Quarterly Cash Dividend of $0.08 per share
November 3, 2016
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Bats Reports Strong September Data, Including 11.7% U.S. Options Market Share
Remains #1 in U.S. ETF Trading; #1 Pan-European Stock Market
October 14, 2016
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Bats Announces Successful Migration of BZX Options Exchange to Next-Generation Matching Engine
Both Bats Options Markets – BZX Options and EDGX Options – Now Operating on Latest Proprietary Technology
October 5, 2016
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CBOE Holdings Agrees to Acquire Bats Global Markets to Strengthen CBOE Holdings’ Global Position in Innovative Tradable Products and Services, and Achieve Meaningful Cost and Operational Efficiencies
Utilizes Bats’ Leading Proprietary Trading Technology by Migrating Trading in Combined Company’s Markets onto a Single, Proven Platform
September 26, 2016
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Bats Reports Strong Market Share Across All Markets in August
Remains #1 Pan-European Stock Market; #1 in U.S. ETF Trading
September 13, 2016
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Bats Reports Strong Market Share Across All Markets in July
Remains #1 in U.S. ETF Trading, #1 Pan-European Stock Market
August 10, 2016
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Bats to Launch BAM Options Auctions, Offering Competitive Price Improvement Opportunities
New Functionality Scheduled for November, Pending SEC Approval
August 1, 2016