Cboe Global Markets unveils plans for new trading floor
The company plans to build new trading floor and office space at 141 W. Jackson Boulevard.
Cboe Global Markets, Inc. today unveiled plans to build new trading floor and office space at 141 W. Jackson Boulevard, as well as to move its global headquarters in Chicago to the Old Post Office building at 433 W. Van Buren Street.
Cboe will occupy approximately 185,000 of the 2.3 million rentable square feet within the Old Post Office building and expects to relocate its Chicago staff, representing approximately half the company’s employees, in the second half of 2020.
Ed Tilly, Chairman, President and Chief Executive Officer of Cboe Global Markets, commented:
“Our primary goal in selecting a new headquarters was to provide a unique, state-of-the-art environment for our employees and customers – one befitting an innovative company operating at the forefront of financial markets around the world. After a rigorous evaluation process, the Old Post Office was determined to be the ideal fit as its renovation is transforming this landmark building into a showcase property with world-class features and amenities.”
Mr Tilly added: “Cboe has played a critical role in making Chicago the financial derivatives capital of the world and continues to draw a community of traders, clearing firms and other market participants to the city. Relocating our headquarters to the Old Post Office reinforces our commitment to maintaining Chicago’s status as a key financial center in the global economy.”
Cboe also announced plans to move its trading floor, which includes trading pits for S&P 500 Index (SPX) options and Cboe Volatility Index (VIX) options. It will be moved to approximately 40,000 square feet of leased office and trading floor space at 141 W. Jackson in 2021. The building, also known as the Chicago Board of Trade (CBOT) Building, hosts several banks, trading firms and other participants in the financial industry. Cboe plans to build its new trading floor on the seventh and eighth floors of the building.
The historic CBOT Building was Cboe’s first trading floor home when it was founded in 1973. The new Cboe trading floor build-out will occupy the same area that housed Cboe trading pits in the late ‘70s and early ‘80s, until Cboe moved to its current headquarters at 400 S. LaSalle Street in 1984.
“Our customers continue to find value in the trading floor experience, therefore Cboe remains committed to supporting open outcry,” Mr Tilly explained. “We’re demonstrating this through a long-term lease and move to a building that affords robust trading floor infrastructure and amenities.”
Cboe has signed a 15-year lease, with a 5-year renewal option, for its new space in the Old Post Office building and a 12-year lease for its new space in 141 W. Jackson. The company plans to sell its current building.
