Cboe delays reopening of Chicago trading floor

The C1 options trading floor in Chicago at Cboe will now open on 15 June due to closures around the city.

Cboe Global Markets has been forced to postpone the partial reopening of its Options Exchange (C1) trading floor in Chicago due to temporary closures around the city.

The US exchange group shut down the open outcry trading floor in Chicago back in March as precautions against the spread of coronavirus.

Last month, Cboe said it would partially reopen the trading floor on the 8 June, but has now pushed that date back a week to 15 June, due to limited access to the area surrounding the Cboe building. The exchange reiterated that plans to reopen could be delayed again depending on the situation, which it is monitoring closely.

The C1 trading floor in Chicago was due to have half of its trading staff return to work. Despite the short delay, the staff will still have to follow the new standards of conduct in conjunction to COVID-19, including social distance protocols, limited movement on the floor, and medical screenings at entry points of the building.

Trading on C1, Cboe’s hybrid open outcry and electronic exchange, has been available in an electronic-only trading mode since 16 March but will switch back to its hybrid trading mode upon reopening. The New York Stock Exchange (NYSE) also shifted to fully electronic trading from 23 March, after temporarily closing its equities and options trading floors. The exchange reopened both trading floors on 26 May, but they are functioning with a reduced headcount as part of health and safety precautions.

“Customers have awaited a return to hybrid trading at Cboe and all of the unique benefits it provides. We look forward to satisfying that demand and welcoming back our trading floor community,” Ed Tilly, CEO of Cboe Global Markets, said in a previous statement issued by Cboe.