The CBOE plans to shut down its CBOE Stock Exchange (CBSX), as it no longer fits into its strategic business plan, according to a Wall Street Journal story by Chris Dietrich.?
Dietrich reported the story on Thursday and cited the following statement by the exchange, “CBOE Holdings has determined it is no longer in the Company’s strategic interests to pursue the stock business at this time. It will reserve the right to re-enter the stock business at a future date.”?
The date to close CBSX is yet to be determined; it is also awaiting Securities and Exchange Commission (SEC) approval, according to a CBOE spokewoman.?
CBSX has been open since 2007, with majority ownership by CBOE along with four market-making partners and nine broker-dealers. In 2011, it acquired the National Stock Exchange ?and earlier this week, it adopted CBSX’s fee structure in anticipation of the change. ?
According to BATS Global Markets,CBSX has approximately 0.4% of U.S. equity market trading volume and?