Cboe U.S. Equities: Listing Requirements and IPO Guide

Headquarters

Chicago, United States

Region

North America

Market Focus

ETPs & Trading

Overview

Cboe Global Markets operates four US equities exchanges, of which Cboe BZX Exchange is the main listing venue. Cboe became one of the largest US equities operators through its acquisition of Bats Global Markets in 2017.

Cboe BZX is a major listing venue for exchange-traded products, and Cboe is also a leading US options exchange operator, home to products tied to the VIX volatility index.

Known For

Listing and trading of exchange-traded funds and other exchange-traded products
A large share of daily US equities trading across its four exchanges
Options markets, including products linked to the VIX index
A fully electronic trading model

Listing Considerations

Most relevant to fund sponsors launching exchange-traded products rather than to operating companies
Operating companies more commonly list on NASDAQ, the NYSE or NYSE American
Cboe-listed products trade across all US exchanges under national market rules
Full SEC oversight applies to listings and trading

Key Facts

Founded

1973 (Cboe); BZX began as Bats in 2005

Operator

Cboe Global Markets

Regulator

U.S. Securities and Exchange Commission (SEC)

Main Index

Not applicable; best known for the VIX volatility index

Currency

US dollar (USD)

Trading Hours

9:30 a.m. – 4:00 p.m. ET, Monday–Friday (regular session)

Market Segments

Cboe BZX, BYX, EDGX and EDGA equities exchanges

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Listing Requirements

Cboe BZX lists mainly exchange-traded products, under its own ETP listing rules and SEC requirements
Operating companies more commonly list on NASDAQ, the NYSE or NYSE American
Cboe-listed products trade across all US exchanges under national market rules

Summary of Cboe's US listing focus, checked November 2026. See Cboe's rulebook for product-specific standards.

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Cboe U.S. Equities