“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 US listed options market – began,” said Ed Tilly, Chairman and CEO of Cboe Global Markets. “With the founding of Cboe nearly fifty years ago, we created an entirely new marketplace that transformed the way the world manages market volatility and risk. Our trading room has since symbolized the spirit of innovation and business of Cboe, and embodies the strength and vigor of Chicago as the world capital of financial derivatives. We couldn’t be more excited to begin the next chapter in Cboe’s ongoing story, as we open the doors to our new trading floor to begin a new era of open outcry.”
Defining the trading room of the future
Located in the historic district Chicago Board of Trade (CBOT) Building, Cboe’s new floor spans the seventh and eighth floors, occupying more than 40,000 square feet, with floor-to-ceiling double-height windows that overlook Chicago historic financial district on LaSalle Street.
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 merchants.
“Our clients continue to find value in over-the-counter trading, particularly for executing larger and 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 improved trading room offers a dynamic, technology-driven environment that seamlessly integrates open-outcry and electronic trading mechanisms to provide our clients with a truly unparalleled, world-class trading experience. We believe this new dynamic 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 Options (SPX), Cboe Volatility Index Options (VIX), 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 increased capacity to meet demand from businesses looking to support other floor-based traders. More than 330 individual terminals, equipped with state-of-the-art technology, are available on the floor to allow merchants to connect and use their devices with greater ease and flexibility.
Additionally, the floor features a ringing platform overlooking the trade pits and state-of-the-art media streaming capabilities including a ceiling-mounted camera track system. Visitor and employee facilities are located on the eighth floor and include a customer experience center, office and meeting spaces, and an observation deck that offers sweeping views of the trading floor below.
Honoring historical roots, reaffirming commitment to Chicago
The first floor of Cboe Markets began in the former CBOT Smokehouse, 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 US-listed options trading.
The CBOT Building continued to house Cboe’s business pits through the late 1970s and early 1980s, until Cboe moved its headquarters to 400 S. LaSalle Street in 1984. In 2021, reflecting its ongoing commitment to ChicagoThe company opened its new global headquarters in the historic Old City Post Office building at 433 W. Van Buren Street.
David HowsonExecutive 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 attract a community of traders, clearing houses and other market players to the city. As Cboe establishes itself as one of the world’s leading providers of global market infrastructure, 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 lead real estate advisor on this transaction. Colliers is a leading diversified professional services and investment management firm, present 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 real estate properties and assets to accelerate the success of its clients and investors.
Cboe commissioned CannonDesign as the design firm for the new trading floor. Consistently recognized by Fast Company as one of the world’s largest and most innovative design companies, CannonDesign has assisted Cboe in the areas of design, workplace strategy, change management and services. engineering.
Pepper Construction is the general contractor for the construction 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 is leased and managed by Glenstar.
About Cboe Global Markets
Cboe Global Markets (Cboe: CBOE), a leading provider of market infrastructure and tradable products, provides industry-leading trading, clearing and investment solutions to market participants worldwide. The company is committed to tapping into an inclusive and trusted global marketplace, delivering industry-leading products, technologies 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, through North America, Europe and Asia Pacific. To learn more, visit www.cboe.com.
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.
Cautions 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 forward-looking statements, which speak only as of the date made and are subject to a number of risks and uncertainties.
SOURCECboe Global Markets, Inc.