The Boston Options Exchange (BOX) was founded by the Boston Stock Exchange (BSE) in 2002, before the BSE was acquired by NASDAQ. The BOX was acquired by the Toronto Stock Exchange after NASDAQ's acquisition of the BSE, and continues to operate as an independent options exchange. Trading on the BOX is performed electronically and is largely automated.
The BOX opened an open outcry trading floor in Chicago in 2017, enabling it to offer its members face to face trading for greater efficiency in trading complex options than is possible with electronic trading. Along with the new trading floor, BOX introduced a number of innovations which enable more efficient open outcry options trading.