CBOE Holdings, Inc.
Tel : 1 312 786 5600
Fax : 1 312 786 7407
Chairman and Chief Executive Officer: Mr. William J. Brodsky
Executive Vice President: Mr. Richard G.DuFour
Types of Securities Traded
Name of Trading Systems
(cash and derivatives)
Stock Options, Index Options, ETF Options
Hybrid Trading System using CBOEdirect Trade Engine
8:30 AM to 3 :15 PM
US Securities and Exchange Commission (SEC)
Name of Clearing & Settlement Organization
The Options Clearing Corporation (OCC)
T + 1
Name of Central Securities Depository
Commissions on Transactions levied by Exchange
Various, depending on product. (Please see CBOE Fee Schedule)
Taxes on Dividends, Interests
US tax law applies.
In the U.S., qualified dividends are currently taxed at a maximum rate of 15%. Non-qualified dividends, interest income and short-term capital gains are taxed as ordinary income using graduated rates starting at 10% and going to 35%. Long-term capital gains are currently taxed at a maximum rate of 15%. Dealers in futures and certain broad-based index options are eligible for special tax treatment. Their gains are taxed as 60% capital gains and 40% ordinary income.
2011 Share ownership thresholds (%)
The U.S. Securities Exchange Act requires that when a person or group acquires beneficial ownership of more than 5% of a voting class of a companies registered equity securities they are required to report it. Options are included in determining the 5% if the person or group have the right to acquire the stock within sixty days
Short selling (Yes / No)
Yes, short selling of stock is allowed in the U.S., subject to certain conditions.
Short selling conditions (if any)
Generally, short sellers must “locate” (have arrangements to borrow) the stock prior to engaging in a short sale of the stock. (See SEC Reg. SHO)