Box Options Exchange, an all-electronic equity options market, has won regulatory approval to set up an open-outcry exchange in Chicago in stark contrast to the trend that has sent most trades to computers.
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Chicago open-outcry trading floor launch wins approval
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Box said the old-school trading style, which has become nearly obsolete in many financial markets, was better suited to large and complex deals than the liquidity generally available in electronic-only markets and would encourage participation in such trades. “We welcome this opportunity to bring additional competition to the options market, which we believe will spur further modernisation of open-outcry trading,” said Lisa Fall, president of Box Options.
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