The Chicago Board Options Exchange is to open up access to its electronic trading platform in a bid to thwart the growing competition from rival exchanges. From April 26 a new class of CBOE members will be able to trade on the exchange's electronic trading system.

The new membership class of remote market makers have been introduced by the CBOE as part of its effort to retain its leading position in the fiercely competitive US equity options markets. The new members will be able to trade on the exchange's so-called hybrid trading system from any location.