Cboe History
- 1973
- Chicago Board Options Exchange® (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.
- 2018
- Cboe transfers the primary listing of its common stock to Cboe BZX Exchange.
- 2019
- Cboe completes all exchange technology migrations, unifying its options, equities and futures markets into a single state-of-the-art technology platform.
- 2020
- Cboe acquires three data analytics firms, adding to Data and Access Solutions offering.
- Cboe acquires pan-European equities clearinghouse EuroCCP, announces plans for European Derivatives.
- Cboe acquires MATCHNow, expanding its North American equities offering into Canada.
- Cboe advances ETP market leadership, becomes second largest primary listings exchange in the U.S.
- 2021
- Cboe acquires BIDS Trading, the largest independent block trading ATS in the U.S.
- Cboe acquires Chi-X Asia Pacific, expanding into Japan and Australia.