The CBOE Stock Exchange (CBSX) will postpone its 5 February launch date to 5 March. The change is in conjunction with the rescheduling of the Securities and Exchange Commission’s Regulation NMS Trading Phase Compliance.
By the end of 2007, CBSX plans to list the 2,800 most traded securities on the New York Stock Exchange, NASDAQ Market and American Stock Exchange, as well as Exchange Traded Funds and other securities. CBSX is fully electronic, Reg NMS compliant and has a strict price-time priority for participants. Liquidity will be provided by Remote Market Makers and Designated Primary Market Makers to create competitive and deep markets for large-sized orders.
All CBSX participants will receive liquidity and market data rebates, but DPMs and RMMs will receive the highest rebates. CBSX is a new stock trading facility created by the Chicago Board Options Exchange, and it will employ the CBOEdirect trade engine.