Who Trades S&P500 Options, Anyway?

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We hope you had no pressing need to trade on the Chicago Board Options Exchange this morning, as it was rendered impossible by one of the more spectacular recentexchange-technologyglitches.

The biggest U.S. options exchange by volume was unable to start trading Thursday because of system problems. As of midday, it was still unable to say when trading might start.

The Chicago Board Options Exchange told traders in system alerts that some of its customers were having problems "downloading" information from CBOE early Thursday, leaving traders and brokers in its Chicago pits to field angry calls from customers and surf the Internet on their phones. A CBOE spokeswoman said the outage was "not a hacking issue" but instead was caused by software problems.

CBOE earlier had planned to reopen at 10:15 a.m. Eastern Time—45 minutes late—and then again at 10:20 a.m., but later delayed trading with no estimate as to when the exchange might get up and running, according to notices sent to traders.

But, hey, they've figured it out. Cheers?

The Chicago Board Options Exchange will open three options classes at 12:50 p.m. Eastern, the exchange operator announced on its website Thursday. The exchange, , said it will open option classes tied to the S&P 500 known as SPX, SPXW and SPXPM. It will reopen all remaining classes at 1 p.m. Eastern.

CBOE Hit by Trading Outage; Key Stock-Index Contracts Frozen [WSJ]
CBOE to restart trade at 12:50 p.m. Eastern [MarketWatch]

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