Friday, July 28, 2006

CBOE to trade stocks

Big news out of Chicago today:

From the
"The Chicago Board Options Exchange, the nation's largest options exchange, says it intends to get into the business of trading stocks and will launch a new exchange in early 2007. The CBOE on Thursday says it has also begun converting itself into a holding company, a process that could lead to an eventual IPO...."
From the CBOE's press release:

" The CBOE Stock Exchange will feature a Hybrid market model that will combine elements of both screen and floor-based trading; and provide a new venue for the trading of New York Stock Exchange, NASDAQ Stock Market, and American Stock Exchange listed securities. CBSX is expected to launch in early 2007, pending final regulatory approval from the Securities and Exchange Commission (SEC)."

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