The standardization of option contracts and the creation of the Options Clearing Corporation are two important results of the opening of the Chicago Board of Options Exchange.

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The opening of the Chicago Board of Options Exchange in 1973 led to the standardization of option contracts, making them more accessible and tradable for investors. The Options Clearing Corporation was also created to act as a central counterparty for all options trades, reducing risk for market participants.

The Standardization of Option Contracts and the Creation of the Options