The Chicago Board Options Exchange operates similarly to any other commercial securities exchange, such as the New York Stock Exchange and the Nasdaq. 

CBOE is part of the CME Group, which also operates other exchanges, such as:

• Chicago Board of Trade (CBOT): CBOT, founded in 1848, is one of the oldest futures and options exchanges in the world. It is a subsidiary of the CME Group and provides a platform for trading agricultural and financial futures and options
• New York Mercantile Exchange (NYMEX): NYMEX, part of the CME Group, is a leading commodity futures exchange. It is known for trading energy and metals contracts, including crude oil, natural gas, and gold
• Commodity Exchange, Inc. (COMEX): COMEX, a division of the New York Mercantile Exchange, specializes in the trading of metals futures and options, including gold, silver, copper, and aluminum
• Kansas City Board of Trade (KCBT): Acquired by the CME Group in 2012, KCBT primarily focuses on agricultural commodity futures and options

These exchanges collectively form the CME Group's derivatives marketplace, providing a wide range of financial products for investors and traders.

CBOE is a part of the CME holding and is home to a wide variety of derivatives contracts. 

CBOE was the first exchange to offer standardized options contracts, providing investors with a regulated platform to trade options on a wide range of underlying assets, including stocks, indexes, and exchange-traded funds (ETFs).

CBOE Instruments

CBOE is home to a wide range of instruments, which are not limited to options. Traders can buy and sell derivatives on all major assets, such as stocks, ETFs, indices, commodities, etc. 

Other asset classes, such as binary options, interest rate derivatives, and weekly options are also available. 

Traders can access these instruments using their brokerage accounts, which may require for traders to adjust their account settings to state that they have an extensive experience of options trading in order to access the full suite of instruments, many of which can be highly volatile and not advisable for beginners. 

Options traded on the CBOE include calls and puts, giving investors the right, but not the obligation, to buy or sell an underlying asset at a predetermined price (strike price) within a specified time frame.

Options on various underlying assets, such as stocks, are traded on the CBOE through an auction-style process. This involves buyers and sellers placing bids and offers, and when a bid and offer match, a trade is executed.

Is CBOE Regulated?

CBOE is a regulated exchange, much like the New York Stock Exchange and Nasdaq. It operates under the oversight of several regulatory bodies to ensure fair and transparent trading. The primary regulatory authority is the U.S. Securities and Exchange Commission, which sets and enforces securities laws.

Additionally, the Commodity Futures Trading Commission (CFTC) may regulate certain aspects of CBOE's operations, especially in relation to certain derivative products.

• The Chicago Board Options Exchange, or CBOE, is the largest options exchange in the world and home to a wide variety of derivatives
• Traders can access derivatives on thousands of stocks, ETFs, currencies, and commodities on CBOE via their brokerage accounts 
• CBOE is part of the Chicago Mercantile Exchange, which also operates futures and other derivatives exchanges in the United States 
• CBOE also operates various derivatives exchanges under its corporate umbrella, such as the CBOE Futures Exchange, among others