CBSX is a Regulation-NMS compliant facility of CBOE. CBSX trades NYSE and Nasdaq-listed securities and is connected to DTCC for clearing. CBOE Trading Permit Holders (TPHs) that wish to have direct access to CBSX must complete a short-form application.
Firms and/or individuals, who are not CBOE TPH's that desire to have direct access to CBSX are required to complete a TPH application. A CBSX TPH must be a registered U.S. broker-dealer.