Cboe plans pit reopening

[ajacobson]

https://www.chicagobusiness.com/


May 01, 2020 09:24 AM UPDATED 10 HOURS AGO
Cboe plans pit reopening
As it reports record profits, the options exchange operator said it aims to reopen its Chicago trading floors June 1 to resolve customer frustration, despite a smooth shift to all-electronic trading during the pandemic.
LYNNE MAREK
REPRINTSPRINT

Bloomberg


Traders work in the Cboe VIX pit in 2018.

Chicago options exchange operator Cboe Global Markets, which temporarily closed its local trading pits to avoid spreading of the deadly coronavirus, said it plans to reopen its Chicago trading floor on June 1.

The Chicago-based company also reported record quarterly revenue for the first quarter as the coronavirus pandemic increased trading volume.

 

[Sig]

May 01, 2020 09:24 AM UPDATED 10 HOURS AGO
Cboe plans pit reopening
As it reports record profits, the options exchange operator said it aims to reopen its Chicago trading floors June 1 to resolve customer frustration, despite a smooth shift to all-electronic trading during the pandemic.
LYNNE MAREK
REPRINTSPRINT

Bloomberg


Traders work in the Cboe VIX pit in 2018.

Chicago options exchange operator Cboe Global Markets, which temporarily closed its local trading pits to avoid spreading of the deadly coronavirus, said it plans to reopen its Chicago trading floor on June 1.

The Chicago-based company also reported record quarterly revenue for the first quarter as the coronavirus pandemic increased trading volume.

I hate the pit, it's where SPX orders go to die! I was hoping this would be the final nail and they'd let it die off but I guess that was too much to hope for

 

[VolSkewTrader]

How else are the dead-end job brokers and "old school" floor traders going to afford to stay in their homes in Hinsdale, Barrington and the North Shore? Ripping off retail orders is all they know. They couldn't possibly survive in an all-electronic level playing field environment.

They must have a strong voice on the CBOE board. Hopefully, CME won't follow suit.