The Chicago Board Options Exchange (CBOE), founded in 1973, is the world's largest options exchange and the first marketplace for standardized, listed stock options trading in the [[United States of America (USA)]]. It operates as a key financial institution that facilitates the trading of options contracts on stocks, indexes, and other financial instruments. The CBOE is particularly known for creating the VIX Index (also known as the "fear index"), which measures market volatility, and has pioneered many innovations in derivatives trading. Located in Chicago's financial district, it provides a regulated marketplace where market participants can trade options contracts with transparency and price discovery.