CBOE Options Hub
  • 1973

    CBOE is founded and becomes first marketplace for trading listed options.

  • 1974

    New CBOE trading floor opens — 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; 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 indexes with the S&P 100 (OEX) and S&P 500 (SPX) Indexes.

  • 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 Institute, 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.

  • 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.

  • 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 indexes 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; FLexible EXchange (FLEX) options, which feature customizable terms, launch.

  • 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 Average.

  • 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.

  • 2003

    CBOE begins operating a Hybrid trading model that integrates floor and screen-based trading in a single exchange.

  • 2004

    CBOE Futures Exchange (CFE) opens and VIX futures begin trading

  • 2005

    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.

  • 2006

    CBOE begins trading VIX options; annual exchange volume exceeds 500 million contracts for first time.

  • 2007

    CBOE introduces CFLEX, 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 Holdings, with IPO ceremony held on the trading floor; C2, an all-electronic exchange, launches.

  • 2011

    SPXpm, a new, electronic S&P 500 Index option contract, launches.

  • 2012

    Annual volume in VIX options and futures set sixth and third consecutive records, respectively; CBOE Command, a cutting-edge trade engine technology, goes live.

  • 2013

    New London Hub for European customers becomes operational; preparations begin for launch of 24 hour, 5 day a week trading of VIX futures.