CHICAGO, Sept. 17, 2019 /PRNewswire/ -- Cboe Global
Markets, Inc. (Cboe: CBOE), one of the world's largest exchange
holding companies, today announced plans to move its global
headquarters in Chicago to the Old
Post Office building at 433 W. Van Buren
Street. The company also plans to build new trading floor
and office space at 141 W. Jackson Boulevard.
Cboe will occupy approximately 185,000 of the 2.3 million
rentable square feet within the Old Post Office building and
expects to relocate its Chicago
staff, representing approximately half the company's employees, in
the second half of 2020. The company announced its plans to Cboe
employees at a global Town Hall meeting earlier today.
"Our primary goal in selecting a new headquarters was to provide
a unique, state-of-the-art environment for our employees and
customers – one befitting an innovative company operating at the
forefront of financial markets around the world," said Ed Tilly, Chairman, President and Chief
Executive Officer of Cboe Global Markets. "After a rigorous
evaluation process, the Old Post Office was determined to be the
ideal fit as its renovation is transforming this landmark building
into a showcase property with world-class features and
amenities."
Tilly added: "Cboe has played a critical role in making
Chicago the financial derivatives
capital of the world and continues to draw a community of traders,
clearing firms and other market participants to the city.
Relocating our headquarters to the Old Post Office reinforces our
commitment to maintaining Chicago's status as a key financial center in
the global economy."
Cboe also announced plans to move its trading floor –
which includes trading pits for S&P 500 Index (SPX) options and
Cboe Volatility Index (VIX) options – to approximately
40,000 square feet of leased office and trading floor space at 141
W. Jackson in 2021. The building, also known as the historic
Chicago Board of Trade (CBOT)
Building, is home to several banks, trading firms and others in the
financial industry. Cboe plans to build its new trading floor on
the seventh and eighth floors of the building.
The historic CBOT Building was Cboe's first trading floor home
when it was founded in 1973. The new Cboe trading floor build-out
will occupy the same area that housed Cboe trading pits in the late
'70s and early '80s, until Cboe moved to its current headquarters
at 400 S. LaSalle Street in 1984.
"Our customers continue to find value in the trading floor
experience, therefore Cboe remains committed to supporting open
outcry," Tilly continued. "We're demonstrating this through a
long-term lease and move to a building that affords robust trading
floor infrastructure and amenities."
Cboe will celebrate its recommitment to Chicago with Mayor Lori Lightfoot and other guests at a special
gathering in the Old Post Office lobby in October.
The company has signed a 15-year lease, with a 5-year renewal
option, for its new space in the Old Post Office building and a
12-year lease for its new space in 141 W. Jackson. The company
plans to sell its current building.
Holly Duran Real Estate Partners (HDREP) is Cboe's primary
real estate advisor, with managing broker Holly Duran and partner Jeff Mulder leading the efforts on these
transactions. Based in Chicago and
certified by the city as a Women-Owned Business Enterprise, HDREP
is a global real estate strategy and advisory services firm that
provides innovative, cost-efficient solutions to commercial
tenants.
Cboe has commissioned CannonDesign as its design firm for the
project. Recognized by Fast Company as one of the most important
and innovative design companies of 2019, CannonDesign will help
Cboe with design, workplace strategy, change management and
engineering services.
Pepper Construction is the general contractor for the build of
Cboe's new spaces.
Cboe is represented by outside counsel Jenner & Block.
The Old Post Office is being redeveloped by 601W Companies,
which is represented in leasing by the Telos Group.
141 W. Jackson is owned by a partnership between Glenstar and
Oaktree Capital, and leased and managed by Glenstar.
For more information on Cboe's relocation plans, view the fact
sheet online.
About Cboe Global Markets, Inc.
Cboe Global Markets, Inc. (Cboe: CBOE) is one of the world's
largest exchange holding companies, offering cutting-edge trading
and investment solutions to investors around the world. The company
is committed to relentless innovation, connecting global markets
with world-class technology and providing seamless solutions that
enhance the customer experience.
Cboe offers trading across a diverse range of products in
multiple asset classes and geographies, including options, futures,
U.S. and European equities, exchange-traded products (ETPs), global
foreign exchange (FX) and multi-asset volatility products based on
the Cboe Volatility Index (VIX Index), the world's barometer for
equity market volatility.
Cboe's trading venues include the largest options exchange in
the U.S. and the largest stock exchange by value traded in
Europe. In addition, the company is one of the largest stock
exchange operators in the U.S. and is a leading market globally for
ETP trading.
The company is headquartered in Chicago with offices in Kansas City, New
York, London, Amsterdam, San
Francisco, Singapore,
Hong Kong and Quito, Ecuador. For more information,
visit www.cboe.com.
Media
Contacts
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Analyst
Contact
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Angela
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Stacie
Fleming
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Debbie
Koopman
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+1-646-856-8734
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+44-20-7012-8950
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+1-312-786-7136
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atu@cboe.com
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sfleming@cboe.com
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dkoopman@cboe.com
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Cboe®, Cboe Global Markets®, Cboe Volatility Index® and VIX® are
registered trademarks of Cboe Exchange, Inc. All other
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SOURCE Cboe Global Markets, Inc.