Navigate this market better. Subscribe for FREE stock alerts and information.

Monday, December 22, 2014

CBOE to pass regulatory duties to FINRA, (NASDAQ: CBOE)

CBOE Holdings Inc, operator of the biggest U.S. stock options market, will cede regulatory duties to the securities industry's largest independent regulator next week, the company said on Monday.CBOE's Chicago Board Options Exchange and C2 Options Exchange hired the Financial Industry Regulatory Authority, or FINRA, to perform "the majority of the exchanges' regulatory services," according to a statement.The exchange operator also hired FINRA to take over CBOE's regulatory duties for the Options Regulatory Surveillance Authority (ORSA), an entity that U.S. options exchanges established in 2006 to collaborate on insider trading surveillance and investigations.With the change, CBOE is "reinforcing the integrity" of its markets, Chief Executive Officer Ed Tilly said in the statement.

CBOE Holdings, Inc. (CBOE Holdings) is the holding company. Shares of CBOE traded higher by 0.75% or $0.48/share to $64.65. In the past year, the shares have traded as low as $46.52 and as high as $64.79. On average, 637494 shares of CBOE exchange hands on a given day and today's volume is recorded at 356882.