See "CBOE 40" video:
This video documentary chronicles CBOE's rise from start-up market to leading global exchange, as told through a series of video interviews with CBOE's founders and leaders.
- CBOE is founded and becomes the first marketplace for trading listed options.
- New CBOE trading floor opens - a "deck floor" over the main trading floor at the Chicago Board of Trade.
- CBOE introduces computerized price reporting; CBOE Clearing Corp. becomes The Options Clearing Corporation (OCC), the industry clearinghouse for all U.S. options trades.
- CBOE adds "put" options; acquires the Midwest Stock Exchange's options business.
CBOE introduces Order Support System (OSS), which automates order-routing and limit order book access.
- CBOE breaks ground on a 350,000-square-foot building, across the street from the Chicago Board of Trade.
- CBOE moves into its current building in the heart of Chicago's financial district; annual exchange volume tops 100 million contracts for first time.
- CBOE forms The Options InstituteSM, its educational arm, whose mission is to educate investors around the world about options; introduces the Retail Automatic Execution System (RAES) to facilitate electronic execution of small customer orders.
- CBOE introduces an Auto Quote system to facilitate firm quotes in less active series.
- CBOE introduces Electronic Book to provide more timely order execution and fill reports for limit orders.
- CBOE celebrates its 15th anniversary.
- Options on interest rates begin trading.
- 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.
- Options on sector and international indexes begin trading.
CBOE creates the CBOE Volatility Index® (VIX®), which has become the world's barometer of market volatility; CBOE introduces hand-held market-maker terminals; FLexible EXchange® (FLEX®) options, which feature customizable terms, launch.
- Options on the Nasdaq-100® Index listed; PAR (Public Automated Routing system), a PC-based touchscreen for floor brokers, is introduced.
- Founding members celebrate CBOE's 25th anniversary.
- CBOE introduces ROS, the Rapid Opening System, significantly reducing the time traditionally needed to open all options series in a class.
- CBOE launches CBOEdirect, a state-of-the-art electronic trading platform.
- CBOE S&P 500 BuyWrite Index (BXM), the first major benchmark for tracking options strategy-based performance, is created.
- CBOE begins operating a Hybrid trading model that integrates floor and screen-based trading in a single exchange.
- CBOE creates Weeklys, short-term options with one week until expiration, allowing investors targeted trading strategies around market news and events. Weeklys in SPX and OEX are initial listings.
- CBOE options contract volume was an all-time record of 674,735,348 contracts (up 44% over the previous year).
- CBOE introduces CFLEXSM, an Internet-based trading system for FLEX options.
- Annual exchange volume surpasses one billion contracts for first time.
- CBOE converts to publicly-traded corporation, CBOE Holdings, with IPO ceremony held on the trading floor; C2SM, an all-electronic exchange, launches.
- SPXpm, a new, electronic S&P 500 option contract, launches.
- Annual volume in in VIX options and futures set sixth and third consecutive records, respectively; CBOE CommandSM, a cutting-edge trade engine technology, goes live.
- New London Hub for European customers becomes operational; preparations begin for launch of 24 hour, 5 day a week trading of VIX futures.
Visit "Choose CBOE" for additional CBOE historical achievements.