The Chicago Board Options Exchange, the US options market, has launched a free service for its clients to test derivatives strategies, Financial News reports.
The Chicago-based exchange has launched CBOE papermoney, a trading tool developed jointly with thinkorswim, a trading software specialist, enabling customers to test options strategies before generating orders.
Customers need only register with the exchange’s web portal to download the software to their desktops.
“Thinkorswim’s goal is to deliver the best trading technology supported by professional style trading tools to individual traders,” says Tom Sosnoff, the president of thinkorswim. “Papermoney lets novice and experienced investors experiment with new options strategies without risking real money.”