CBOE.org Home | CBOE.com| CBSX Site | CFE Site | Contact CBOE      
Trading Desk Order Handling
Electronic Auctions
SAL
COA
AIM
NBBO Step-Up
Crossing
Complex Orders
Matching Algorithms
HyTS Terminal
CFLEX
3rd Party Connectivity
Sponsored Users Program
Fees
Glossary
Contact Us
Electronic Auctions

In the electronic environment CBOE provides potential for price improvement via an auction mechanism.

For simple orders in SPX see Simple Auction Liaison (SAL).
For complex orders see Complex Order Auction (COA).
For paired orders (crossing) see Automated Improvement Mechanism (AIM).

SAL - Simple Auction Liaison
COA - Complex Order Auction
AIM - Automated Improvement Mechanism
Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (ODD). Copies of the ODD are available from your broker, by calling 1-888-OPTIONS, or from The Options Clearing Corporation, One North Wacker Drive, Suite 500, Chicago, Illinois 60606. The information on this website is provided solely for general education and information purposes and therefore should not be considered complete, precise, or current. Many of the matters discussed are subject to detailed rules, regulations, and statutory provisions which should be referred to for additional detail and are subject to changes that may not be reflected in the website information. No statement within the website should be construed as a recommendation to buy or sell a security or to provide investment advice. The inclusion of non-CBOE advertisements on the website should not be construed as an endorsement or an indication of the value of any product, service, or website. The Terms and Conditions govern use of this website and use of this website will be deemed acceptance of those Terms and Conditions.