The Chicago Board Options Exchange (CBOE) was created by the Chicago Board of Trade in 1973. The CBOE essentially defined for the first time standard, listed stock options and established fair and orderly markets in stock option trading.
As of this writing, the CBOE lists options on over 1,200 widely held stocks. In addition to stock (equity) options, the CBOE lists stock index options (e.g., the S&P 100 Index Option, abbreviated OEX), interest rate options, long-term options called LEAPS, sector index options, and more. Trading happens via a market-maker system.
For more information, visit their web site: http://www.cboe.com
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Contributed-By: Chris Lott