CHICAGO, June 6, 2022
/PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading
provider of global market infrastructure and tradable products,
today celebrates the grand opening of its new trading floor in
Chicago at 141 W. Jackson
Boulevard. Cboe's new trading floor returns to the same space where
it was founded in 1973 as the first listed options exchange in the
U.S.
Cboe's leadership team and associates, alongside members of the
Cboe trading floor community and other industry guests, will gather
on-site for a special celebration, including an Opening Bell
ceremony at 8:30 am C.T. and a
Closing Bell ceremony at 3:15 pm
C.T., to commemorate the first day of trading on the new
floor.
"Today marks a historic occasion for Cboe Global Markets and our
entire trading floor community, as we return to the place of our
origins where Cboe – and the U.S. listed options market – began,"
said Ed Tilly, Chairman and Chief
Executive Officer of Cboe Global Markets. "With Cboe's founding
nearly fifty years ago, we created a brand new market that has
transformed the way the world manages market volatility and risk.
Our trading floor has since symbolized Cboe's relentlessly
innovative and entrepreneurial spirit, and embodied the strength
and vigor of Chicago as the
financial derivatives capital of the world. We couldn't be more
excited to begin the next chapter in the ongoing story of Cboe, as
we open the doors to our new trading floor to begin a new era of
open outcry."
Defining the Trading Floor of the Future
Located in the historic Chicago
Board of Trade (CBOT) Building, Cboe's new trading floor spans the
seventh and eighth floors, occupying more than 40,000 square feet,
with double-height floor to ceiling windows that overlook
Chicago's historic LaSalle Street
financial district.
The new floor offers state-of-the-art infrastructure, enhanced
technology capabilities, and a flexible, open and dynamic
environment to facilitate more seamless and efficient interaction
between traders.
"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," said Chris Isaacson, Executive Vice President and
Chief Operating Officer of Cboe Global Markets. "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."
Cboe's new trading floor houses a total of 10 trading pits,
including S&P 500 Index (SPX) options, Cboe Volatility Index
(VIX) options, Russell 2000 Index (RUT) and SPDR S&P 500 ETF
Trust (SPY) options pits. Significantly, the floor provides
market-makers and brokers with more space, including expanded
capacity to meet demand from firms looking to support additional
floor-based traders. More than 330 individual kiosks, equipped with
top-of-the-line technology, are available on the floor to enable
traders to plug in and use their devices with greater ease and
flexibility.
In addition, the floor features a bell-ringing platform
overlooking the trading pits and state-of-the-art media
broadcasting capabilities that include a ceiling-mounted camera
track system. Visitor and employee amenities are located on the
eighth floor and include a guest experience center, office and
meeting spaces, and an observation deck that offers commanding
views of the trading floor below.
*Click here to view a video of Cboe's new trading
floor.*
Honoring Historic Roots, Reaffirming Commitment to
Chicago
Cboe's first trading floor began in the CBOT's former smoking
lounge, a 4,000 square-foot space located on the fourth floor of
the building. Cboe later expanded its trading floor to the seventh
floor in response to growing demand for U.S. listed options
trading.
The CBOT Building continued to house Cboe's trading pits in the
late '70s and early '80s, until Cboe moved its headquarters to 400
S. LaSalle Street in 1984. In 2021, in a reflection of its
continued commitment to Chicago,
the company opened its new global headquarters in the city's
historic Old Post Office building on 433 W. Van Buren Street.
David Howson, Executive Vice
President and Global President of Cboe Global Markets, said: "Cboe
has played an important role in helping to build Chicago into a key financial center in the
global economy, and continues to draw a community of traders,
clearing firms and other market participants to the city. As Cboe
cements itself as one of the world's leading global market
infrastructure providers, we remain deeply connected to
Chicago and are proud to reaffirm
our commitment to the city."
The Holly Duran Team at Colliers is Cboe's primary real estate
advisor for this transaction. Colliers is a leading
diversified professional services and investment management company
with operations in 62 countries. The firm's enterprising
professionals work collaboratively to provide expert real estate
and investment advice to its clients while maximizing the
potential of property and real assets to accelerate the success of
its clients and investors.
Cboe commissioned CannonDesign as its design firm for the new
trading floor. Consistently recognized by Fast Company as one of
the most important and innovative design companies in the world,
CannonDesign helped Cboe with design, workplace strategy, change
management and engineering services.
Pepper Construction is the general contractor for the build of
Cboe's new trading floor space, and JLL provided project management
services. Cboe is represented by outside counsel Jenner &
Block. 141 W. Jackson is owned by a partnership between Glenstar
and Oaktree Capital, and leased and managed by Glenstar.
About Cboe Global Markets
Cboe Global Markets (Cboe: CBOE), a leading provider of market
infrastructure and tradable products, delivers cutting-edge
trading, clearing and investment solutions to market participants
around the world. The company is committed to operating a trusted,
inclusive global marketplace, providing leading products,
technology and data solutions that enable participants to define a
sustainable financial future. Cboe provides trading solutions and
products in multiple asset classes, including equities, derivatives
and FX, across North America,
Europe and Asia Pacific. To learn more, visit
www.cboe.com.
Media
Contacts
|
|
Analyst
Contact
|
Angela
Tu
|
Tim
Cave
|
|
Kenneth Hill,
CFA
|
|
+1-646-856-8734
|
+44 (0)
7593-506-719
|
|
1-312-786-7559
|
|
atu@cboe.com
|
tcave@cboe.com
|
|
khill@cboe.com
|
|
|
|
|
|
|
|
|
CBOE-C
Cboe®, Cboe Volatility Index®, VIX® and Cboe Global Markets®
are registered trademarks of Cboe Exchange, Inc. All other
trademarks and service marks are the property of their respective
owners.
Cautionary Statements Regarding Forward-Looking
Information
Certain information contained in this press release may
constitute forward-looking statements. We caution readers not to
place undue reliance on any forward-looking statements, which speak
only as of the date made and are subject to a number of risks and
uncertainties.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/cboe-opens-new-trading-floor-begins-new-era-of-open-outcry-301561431.html
SOURCE Cboe Global Markets, Inc.