Cboe Global Markets

Cboe Global Markets, Inc. is an American company that owns the Chicago Board Options Exchange and the stock exchange operator BATS Global Markets.

History
Founded in 1973 by the Chicago Board of Trade and member owned for several decades, on March 11, 2010 the Chicago Board Options Exchange (CBOE) filed paperwork to launch an initial public offering and began trading on the NASDAQ stock exchange on June 15, 2010.

In September 2011, CBOE Stock Exchange (CBSX) entered into an agreement to acquire the National Stock Exchange. The acquisition was completed on December 30, 2011 with both exchanges to operate under separate names. The National Stock Exchange continued to be based in Jersey City. The National Stock Exchange ceased trading operations on May 30, 2014. The closure brought the number of active stock exchanges in the United States to 11, as the CBOE Stock Exchange had closed the month prior. Wrote Bloomberg, that left "just one public exchange, Chicago Stock Exchange Inc., that isn't owned by Bats, Nasdaq OMX Group Inc., or IntercontinentalExchange Group Inc."

In May 2022, Cboe completed its acquisition of Eris Digital Holdings (ErisX), a US-based digital asset spot market, regulated futures exchange, and regulated clearinghouse.

Operations
The company operates in North America, Europe and Asia-Pacific, providing platforms for trading options, futures, equities, and foreign exchange. It has stock exchanges in the US, Canada, the Netherlands and Australia. Its Canadian operations, Cboe Canada, accounts for 15% of the trading in securities listed in Canada by volume. In Australia, the company operates Cboe Australia, following Cboe's acquisition of Chi-X in Australia and Japan. Its European operations, Cboe Europe, is based in London and Amsterdam. By trading volume, Cboe's stock exchanges are the largest in Europe, second-largest in Canada and third largest in the US.

In addition to its exchanges, Cboe operates clearing houses. These include its European clearing house, Cboe Clear Europe. The company also has a cryptocurrency exchange, Cboe Digital, for exchanging crypto currencies and derivatives. The platform, originally ErisX, was acquired by Cboe in 2021.

The company is headquartered in Chicago, where it operates a trading floor for open outcry trading.

Cboe has two main proprietary index options products, options on the VIX Index, an index that measures expectations for stock market volatility and options on SPX, the Standard & Poor’s 500 index. The company also provides platforms for trading options on other indices, including the Russell 2000 Index.

, Fredric Tomczyk is the company's CEO and has served as a Cboe board member since 2019.