Cboe Global Markets, a global market infrastructure provider, announced on Tuesday that it opened a new trading floor in Chicago. The trading floor is located in the same space where it was founded in 1973, Cboe noted.
According to the press release, Cboe’s new trading floor occupies more than 40,000 square feet in the historic Chicago Board of Trade (CBOT) Building, with double-height floor-to-ceiling windows facing Chicago’s LaSalle Street financial district. In addition, this new floor features state-of-the-art infrastructure, enhanced technology capabilities and a flexible environment to facilitate seamless and efficient interactions between traders.
A total of 10 trading pits are located on the new Cboe trading floor, including those for the SPX and VIX options as well as for the Russell 2000 and SPY options. In addition, the floor provides more space to market-makers and brokers, as well as expanded capacity to support additional floor-based traders. On the floor, more than 330 individual kiosks offer technology that allows traders to connect and use their devices.
“Our customers continue to find value in open outcry trading, especially for executing larger more complex orders, and rely on the floor for price discovery and the deep liquidity provided by our market-makers and floor brokers. Our new and enhanced trading floor offers a vibrant technology-driven environment that seamlessly integrates both open outcry and electronic trading mechanisms to provide our customers a truly unrivaled world-class trading experience. We believe this dynamic new space will serve our customers and investors well, now and for years to come,” Chris Isaacson, the Executive Vice President and Chief Operating Officer of Cboe Global Markets, commented.
NEO Acquisition
Cboe Global Markets completed its acquisition of NEO last week, a fintech company that includes NEO Exchange and NEO Connect.
The NEO Exchange is a registered Canadian securities exchange based in Toronto that has been fully operational since 2015. The financial terms of the deal were not disclosed. The acquisition was funded by Cboe Global Markets’ existing credit facilities and cash on hand.
