Chicago Board Options Exchange

Chicago Board Options Exchange

The Chicago Board Options Exchange (NASDAQCBOE), located at 400 South LaSalle Street in Chicago, is the largest U.S. options exchange with annual trading volume that hovered around one billion contracts at the end of 2007.[1] CBOE offers options on over 2,200 companies, 22 stock indices, and 140 exchange-traded funds (ETFs).

The Chicago Board of Trade established the Chicago Board Options Exchange in 1973. The first exchange to list standardized, exchange-traded stock options began its first day of trading on April 26, 1973, in a celebration of the 125th birthday of the Chicago Board of Trade.[2][3] The CBOE is regulated by the Securities and Exchange Commission.

Contents

Operations

CBOE's options contracts are cleared by the Options Clearing Corporation (OCC). As of approximately April 11, 2007, the Wall Street Journal estimates that globally the market capitalization of the derivatives markets (futures, options, swaps, etc.) exceeds 450 trillion dollars (while US stock exchanges have approximately 30 trillion and the rest of the worlds stock exchanges total to about another 20 trillion, to a total of about 50 trillion--while the global fixed income markets total to roughly 65 trillion).

In 2004, CBOE opened trading on the CBOE Futures Exchange for volatility and variance contracts and in 2007 launched a Reg NMS-compliant stock exchange called the CBOE Stock Exchange (CBSX) to compete with the NYSE, Nasdaq, and other regional exchanges.[4]

Trading at CBOE is carried out by way of the exchange's Hybrid system, which enables customers to choose how their orders are handled – either electronically or through open outcry. About 95 percent of CBOE orders are traded electronically, which equates to between 50 and 60 percent of the exchange's total business. The remaining transactions, traded via open outcry, typically are large or complex institutional orders that use the skills of floor brokers to "work the order" to gain potential price improvement.

On March 11, 2010, CBOE filed paperwork to launch an initial public offering.[5]

Contracts offered

The CBOE (and other national options exchanges) offers options on the following, and others:

The CBOE calculates and disseminates the CBOE Volatility Index (VIX), the CBOE S&P 500 BuyWrite Index (BXM), and other indexes.

See also

References

External links


Wikimedia Foundation. 2010.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • Chicago Board Options Exchange — ( CBOE) A securities exchange created in the early 1970s for the public trading of standardized option contracts. Primary place for the trading of stock options, foreign currency options, and index options ( S&P 100, S&P 500, and OTC 250 index …   Financial and business terms

  • Chicago Board Options Exchange — CBOE Holdings, Inc.[1] Rechtsform Incorporated Gründung 1973 Sitz Chicago, Illinois Leitung William J. Brodsky (Chairman …   Deutsch Wikipedia

  • Chicago Board Options Exchange — Le Chicago Board Options Exchange (CBOE) est une bourse où négocie des contrats d options. Le CBOE est la principale bourse d option en Amérique du Nord et offre des options pour certaines actions du marché américains selon certaines exigences.… …   Wikipédia en Français

  • Chicago Board Options Exchange Volatility Index — VIX von Januar 1990 bis Oktober 2008 Der Chicago Board Options Exchange Volatility Index (VIX) drückt die erwartete Schwankungsbreite des US amerikanischen Aktienindex S P 500 aus. Inhaltsverzeichnis 1 …   Deutsch Wikipedia

  • Chicago Board Options Exchange - CBOE — Founded in 1973, the CBOE is an exchange that focuses on options contracts for individual equities, indexes and interest rates. The CBOE is the world s largest options market. It captures a majority of the options traded. It is also a market… …   Investment dictionary

  • Chicago Board Options Exchange —   Refer instead to CBOE …   International financial encyclopaedia

  • Chicago Board of Trade Building — U.S. N …   Wikipedia

  • Chicago board of trade — Logo de la CBOT sur son bâtiment. La Chicago Board of Trade (CBOT) NYSE : CME, (en français: « Bourse de commerce de Chicago), fondée en 1848, est la plus ancienne bourse de commer …   Wikipédia en Français

  • Chicago Board of Trade — ( CBOT) A futures exchange. American Banker Glossary ( CBOT) The second largest futures exchange in the US, and a pioneer in the development of financial futures and options. Bloomberg Financial Dictionary * * * Chicago Board of Trade …   Financial and business terms

  • options exchange — ➔ exchange1 * * * options exchange UK US noun [C] FINANCE, STOCK MARKET ► OPTIONS MARKET(Cf. ↑options market): »The Chicago Board of Trade is primarily a futures and options exchange. → See als …   Financial and business terms

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”