Key Takeaways

• Advanced technology is transforming options trading by enhancing market resiliency, supporting record-breaking trading volumes and enabling innovative investment solutions tailored for both retail and institutional participants.
• Cboe Titanium℠ (Cboe Ti℠) powers Cboe’s markets and enables the seamless processing of trading volumes, ensuring market resiliency amid rising volatility.
• Cboe is supporting retail traders with services and products, such as a retail-focused trading service in Europe, FLEX® Options and 24X5 trading.

In recent years, the derivatives market seems to be evolving almost constantly while also welcoming new participants gaining interest in trading options. Trading platforms are increasingly adopting new cutting-edge technologies, not only catering to these new participants, but to manage ever-changing market conditions. The most recent options trading record of more than 100 million contracts traded in a single day (set on April 4, 2025), underscores how essential market resiliency is for participants. Cboe supports all investors through its leading-edge technology, Cboe Titanium (Cboe Ti) and continues to create tailored investment solutions and products for customers.

Supporting Traders and Investors with Innovative Solutions and Products

As more retail traders enter the derivatives environment, Cboe is analyzing trends and producing innovative solutions to support investors’ diverse needs. Retail traders' continued interest in options trading is driving the development of solutions tailored to specific investment needs.

Recently, Cboe announced plans to launch a retail-focused trading service on its European Lit order book designed to enhance outcomes for retail investors trading stocks and Exchange Traded Funds (ETFs) across Europe. Cboe sees the demand for retail access and is providing solutions for customers to access some of the best available Lit liquidity in European equities. In addition, retail orders will also be eligible to benefit from free execution on other Cboe Europe trading mechanisms, including its Dark and Periodic Auction order books, offering potential price improvement opportunities.

Additionally, traders are interested in different products, like FLEX Options, to add precision and diversification to their portfolios. FLEX Options are designed to offer a listed alternative to customizable options traded over-the-counter (OTC) and are tailored to meet specific investment needs, suitable for retail and institutional investors. As the inventor of FLEX Options, Cboe continues to see the demand for these options as a tool for portfolio management. FLEX Options bring numerous benefits including customizable contract terms, reduced counter-party risk, transparency and capital efficiency.

Similarly, Cboe continues to see increased retail participation in its cash equities markets and has designed retail focused offerings to meet customer demand. With increasing demand for 24-hour, five-days-a-week (24X5) trading, Cboe announced it is ready to offer around-the-clock trading for U.S. equities on its Cboe EDGX® Equities Exchange (EDGX) as soon as the necessary regulatory approvals and industry developments are in place. Cboe is already equipped with the technological capabilities to offer 24X5 trading and already provides near 24X5 Global Trading Hours (GTH) for multiple proprietary products, including VIX® futures and SPX® and VIX options. Currently, Cboe offers early trading hours on EDGX and Cboe BZX® Equities Exchange (BZX) from 4:00 – 7:00 a.m. ET. As the global demand for extended trading hours continues, Cboe is supporting investors, especially those in Asia Pacific, to gain access to U.S. markets at a more convenient time for them.

None of these products and solutions would be possible without Cboe’s leading-edge technology. Powering Cboe’s global markets and products, Cboe Ti is a resilient and reliable platform for our customers. Advanced technology in the derivatives markets is a focus across the industry and companies are leaning into technological solutions to help retail investors stay competitive. For example, SpiderRock, a cloud-based trading, risk management and data and analytics provider, is continuing to develop technological solutions, including an options Alternative Trading System (ATS), to support the demand for trading.

The Power of Cboe Titanium

Cboe Titanium powers our options, futures and equities markets worldwide. Supporting markets in the U.S., Europe, Australia and Canada, Cboe Ti offers a consistent and unified platform, enabling innovation across markets. Cboe Titanium was built specifically for traders and applies weekly software updates based on customer feedback. As a leader in market technology innovation, Cboe has successfully managed significant increased market activity while maintaining data integrity.

Cboe Ti has a track record of delivering trusted results, especially when volatility starts to rise and clients look to their trading platforms to manage risk. Notably on Monday, April 7, Cboe Titanium processed approximately 200 billion orders and quotes across Cboe’s 27 global markets in inbound traffic. Including return traffic to customers, the total doubles to over 1 trillion messages.

Listen to Cboe’s Tale of the Tape podcast to hear more about Cboe Ti and how SpiderRock is evolving their technological products and solutions to support options trading.

^{There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: https://www.cboe.com/us_disclaimers/. These products are complex and are suitable only for sophisticated market participants. In certain jurisdictions, Cboe Company products are only permitted for investment professionals, certified sophisticated investors, or high net worth corporations and associations. These products involve the risk of loss, which can be substantial and, depending on the type of product, can exceed the amount of money deposited in establishing the position. Market participants should put at risk only funds that they can afford to lose without affecting their lifestyle. © 2025 Cboe Exchange, Inc. All Rights Reserved.}