Cboe shows off upgraded technology for new trading floor in Chicago Board of Trade building

CHICAGO (WLS) -- Cboe Global Markets celebrated Monday the opening of its new trading floor, in its old home, the Chicago Board of Trade Building.

With the opening bell, a new day of trading began in a new space at the Cboe Global Markets with integrated technology, hybrid workspaces, and more.

"Opening this state-of-the-art facility in 2022 is just fantastic for us, Cboe chairman, CEO Ed Tilly said. "We're really excited."

The space is new, but the history remains the same. The Cboe's first trading floor originated in the Chicago Board of Trade building in 1973, the trading pits were housed here through the early 80s. Now, it's back with a modern infrastructure and more open environment.

Matt Filpovich, owner-partner of Lakeshore Securities, has been trading since 1977.

"Instead of back in the day having 5,000 people on the floor, now you have 500, but you handle more business because of electronics," Filpovich said.

Which means things move even quicker.

"This is just a new facility and using the best of our technology and the deep liquidity pool that you see represented by the firms behind me, and so about 33-34% of the volume of the S&P 500 is actually traded on open outcry still, so it's really exciting and we're great to launch this new spot," Tilly said.

Although the trading floor looks and sounds like it used to, reps said hybrid technology allows them to operate with a lot more efficiency.