The Chicago Board Options Exchange (CBOE) is proposing to open up access to its electronic trading platform, in a bid to see off competition from rival exchanges.

The CBOE launched its Hybrid Trading System in June this year. The exchange now plans to make a series of changes to the system, expanding access so that specialists and market makers can electronically access its trading floor from remote locations. Another proposed change will see the CBOE's transaction fee structure revised to provide incentives for members and member firms. Although the exchange would not detail what these incentives would be, they are likely to be based on volume discounts, and will be designed to encourage additional liquidity for the CBOE.