Cboe Options Exchanges
Cboe provides choice for our diverse trading customers by operating four U.S.-listed cash equity options markets, including the largest options exchange in the U.S. – Cboe Options Exchange*.
| Cboe Options Exchange |
|---|
| Hybrid, Classic Model |
| Open outcry and electronic exchange |
| Cboe C2 Options Exchange |
|---|
| Pro-Rata, Maker-Taker Model |
| All-electronic exchange |
| Cboe BZX Options Exchange |
|---|
| Price-Time, Maker-Taker Model |
| All-electronic exchange |
| Cboe EDGX Options Exchange |
|---|
| Classic Pro-Rata/Customer Priority/DMM Model |
| All-electronic exchange |
*Cboe Exchange, Inc. is the legal name of this exchange, which for marketing purposes is sometimes referred to as Cboe Options or Cboe Options Exchange.
Summary of market volume and market share on the Cboe U.S. options exchanges.
| Data for Jul 07 | Volume | % Market | ||||||
|---|---|---|---|---|---|---|---|---|
| Cboe Options Exchange | 8,667,937 | 17.63% | ||||||
| Cboe C2 Options Exchange | 1,262,830 | 2.57% | ||||||
| Cboe EDGX Options Exchange | 2,682,195 | 5.46% | ||||||
| Cboe BZX Options Exchange | 1,861,472 | 3.79% | ||||||
| Matched volume doesn't include trades routed to other market centers. (Data delayed at least 20 min.) | ||||||||
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Cboe Options Exchange Overview
Value of a Physical Trading Floor
Latest News
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July 7, 2025
Change to Daily Closing Time for Options on a Certain Exchange Traded Product All Cboe-affiliated US Options Exchanges will change the daily closing time for options on a certain exchange-traded product (ETP) from 4:00 p.m. ET to 4:15 p.m. ET on the effective date listed below. This change applies to all existing options and related FLEX options for the ETP class identified below. Please click title for complete details. -
July 2, 2025
Morgan Stanley & Co., LLC EDGX Options DPM Appointment Termination Morgan Stanley & Co., LLC (“Morgan Stanley”) has terminated as a DPM on EDGX Options in all appointed classes. As a result of this DPM termination by the firm, the Exchange has re-allocated all Morgan Stanley DPM appointments to Citadel Securities LLC (Citadel) as of the close of business July 1, 2025 and effective for trade date July 2, 2025. -
July 2, 2025
Morgan Stanley & Co., LLC EDGX Options DPM Appointment Termination Morgan Stanley & Co., LLC (“Morgan Stanley”) has terminated as a DPM on EDGX Options in all appointed classes. As a result of this DPM termination by the firm, the Exchange has re-allocated all Morgan Stanley DPM appointments to Citadel Securities LLC (Citadel) as of the close of business July 1, 2025 and effective for trade date July 2, 2025. -
July 2, 2025
Cboe Options Exchange Introduces Complex Quoting on BOE Bulk Quoting Ports Effective trade date August 18, 2025, Cboe Options Exchange (C1) will introduce Complex Quoting on BOE Bulk Quoting ports for select Exchange Designated Complex Options, subject to regulatory review. -
July 2, 2025
Interim DPM Appointment of Citadel Securities LLC The Exchange has allocated on interim basis, pursuant to Exchange Rule 3.53(f), to Citadel Securities LLC (“Citadel”) the option classes to which Morgan Stanley & Co., LLC (“Morgan Stanley”) was the appointed the DPM as of July 1, 2025 (the “MS DPM classes”). -
July 2, 2025
Interim DPM Appointment of Citadel Securities LLC The Exchange has allocated on interim basis, pursuant to Exchange Rule 3.53(f), to Citadel Securities LLC (“Citadel”) the option classes to which Morgan Stanley & Co., LLC (“Morgan Stanley”) was the appointed the DPM as of July 1, 2025 (the “MS DPM classes”). -
July 1, 2025
Penny Program – Additional Class to be Added All Cboe-affiliated US Options Exchanges (BZX Options, Cboe Options, C2 Options, and EDGX Options) will add the following new issue to the Penny Program on the effective date listed below. Please click title for complete details. -
June 27, 2025
Cboe Traders Weekly for Friday, June 27, 2025 -
June 26, 2025
Cboe Silexx Announcement - June 26, 2025 Cboe Silexx is excited to announce the following enhancements. -
June 25, 2025
DPM Appointment Transfer Proposal Approval Between Morgan Stanley & Co. LLC and Citadel Securities LLC This notice is given in accordance with the procedures utilized by the Exchange under Cboe Rule 3.53 and in considering DPM appointment transfer proposals. Under Cboe Rule 3.53, the Exchange posts notice of any proposal by a DPM involving greater than a nominal transfer of interest in a DPM appointment. During the posting period, TPHs may submit to the Exchange any written comments and/or written alternative proposals.