Definition of 'CFLEX'
An electronic system for trading flex options, or options that do not possess standard conditions and, instead, allow clients and brokers to negotiate the terms, such as the strike price and expiration date. Introduced by the Chicago Board of Options (CBOE), CFLEX gives traders all the freedoms and advantages of exchange-traded FLEX options on a low-cost, internet-based, stand-alone, browser-based platform.
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