New CBOE classification

摘要

A rule change by the Chicago Board Options Exchange (CBOE) will affect the way some of its customers do business. On Jan. 8, CBOE implemented a new order type called "professional" orders. The new rule, approved by the SEC on Dec. 24, lets CBOE distinguish between public customer orders routed to CBOE, which are for non-professional, retail investors, and customer orders, which are for entities that have access to technology that allows them to professionally trade options in the same manner as a broker-dealer. This will put them further back in line. The International Securities Exchange (ISE) passed a similar rule filing last year.