Cboe Reopens Chicago Trading Floor
Cboe Global Markets Reopens Chicago Trading Floor
CHICAGO – June 16, 2020 – Cboe Global Markets, Inc. (Cboe: CBOE), one of the world’s largest exchange holding companies, announced it reopened its Cboe Options Exchange trading floor in Chicago on Monday, June 15, 2020, and successfully resumed hybrid trading – which includes open-outcry and electronic trading mechanisms.
On March 16, the Cboe Options Exchange trading floor was temporarily closed and transitioned to all-electronic trading mode as a precautionary measure to reduce the risk of the novel coronavirus disease (COVID-19). The Cboe Options Exchange trading floor reopened yesterday and is accommodating open-outcry trading activity with a modified floor layout, with stringent health and safety protocols in place for the well-being of the trading floor community, which includes Cboe associates and trading permit holders (TPHs).
Ed Tilly, Chairman, President and Chief Executive Officer of Cboe Global Markets, said: “The health and safety of our trading floor community is paramount and continues to guide our decision-making process. I am deeply grateful to our trading floor participants for their flexibility and patience when health concerns necessitated the floor’s temporary closure, and for their collaboration in helping us to map out yesterday’s reopening. We are pleased to have reopened the floor and we will remain vigilant in monitoring the new trading environment and any new developments related to workplace safety.”
Chris Isaacson, Executive Vice President, Chief Operating Officer of Cboe Global Markets, said: “We are pleased with the successful reopening of the trading floor. The Cboe team worked tirelessly to provide for a safe and seamless return to the trading floor. From consulting with public health experts and developing enhanced safety protocols, engaging with our regulators on rule changes, to reconfiguring the entire floor and testing equipment with our TPH members, brokers and market makers – we have restored the benefits of hybrid trading with both open outcry and electronic trading, while taking into consideration the health and safety of our trading floor community.”
Cboe has implemented extensive health and safety protocols for the trading floor, including social distancing, modified capacity limits, required face coverings, enhanced daily cleaning and sanitizing procedures, medical screenings at entry points of the building, and restricted trading floor access. All individuals on the Cboe trading floor are also required to comply with new standards of conduct related to COVID-19.
While Cboe’s Chicago trading floor in the 400 South LaSalle Street building has reopened, the Cboe office in Chicago, along with the company’s other locations across the globe, remain closed. All Cboe staff, with the exception of a limited number of essential personnel, continue to work remotely. Cboe is closely monitoring developments around COVID-19 and guidance provided by governmental and public health agencies.
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