CHICAGO, Oct. 8, 2019 /PRNewswire/ -- Cboe Global Markets,
Inc. (Cboe: CBOE), one of the world's largest exchange holding
companies, announced the successful migration of Cboe Options
Exchange (C1), the largest U.S. options exchange, to its
proprietary Bats technology on October 7,
2019.
The C1 migration was the final step in the company's
multi-exchange, multi-year technology integration, which unites
Cboe's options, futures, U.S. equities and European equities
markets on Bats technology.
"The completion of our technology integration marks a major step
forward for Cboe and positions us for exciting future growth. The
integration not only provides our customers with a single,
world-class trading experience across our markets, but also lays
the foundation for new efficiencies and trading opportunities
across asset classes," said Ed
Tilly, Chairman, President and Chief Executive Officer of
Cboe Global Markets.
"Our technology and operations teams will now focus on other
innovations, including new trading functionality and the
development of a state of-the-art research and data platform, which
will leverage Cboe's unique strengths – technology, research and
product development – to provide tailored trading strategies for
our customers and to inform the creation of new Cboe proprietary
products," Tilly continued.
Technology Integration Highlights
The migration to
Bats technology provides customers with a more efficient,
user-friendly trading experience that includes greater bandwidth,
enhanced risk controls, and improved complex order handling.
"Throughout this process we were focused on executing a seamless
technical and operational integration of our exchange platforms,
resulting in the delivery of a dynamic technology platform that
will enable our future growth," said Chris
Isaacson, Executive Vice President and Chief Operating
Officer of Cboe Global Markets. "I would like to thank our team and
customers for executing this complex integration that culminated
with the C1 migration this week, which included the seamless
integration of electronic and floor trading. It was through their
extraordinary efforts and preparations that we were able to deliver
on each key milestone as scheduled and to successfully meet the
aggressive timeline for the completion of this transformative
integration. We look forward to the opportunities before us now
that the integration is complete."
The company's technology integration included the following
initiatives:
- Launch of a new index platform on January 22, 2018;
- Migration of Cboe Futures Exchange (CFE) to Bats technology on
February 25, 2018;
- S&P 500 Index (SPX) conversion to a hybrid marketplace on
April 30, 2018;
- Migration of C2 Options Exchange to Bats technology on
May 14, 2018;
- Introduction of new floor terminals in December 2018;
- Implementation of nine feature packs across the BZX Options, C2
Options and EDGX Options exchanges to unify options functionality
across Cboe's four options exchanges; rollout began November 29, 2018 and concluded on August 16, 2019;
- Migration of Cboe Options Exchange to Bats technology on
October 7, 2019.
Additional information can be found on the technology
integration microsite.
About Cboe Global Markets, Inc.
Cboe Global Markets, Inc. (Cboe: CBOE) is one of the world's
largest exchange holding companies, offering cutting-edge trading
and investment solutions to investors around the world. The company
is committed to relentless innovation, connecting global markets
with world-class technology, and providing seamless solutions that
enhance the customer experience.
Cboe offers trading across a diverse range of products in
multiple asset classes and geographies, including options, futures,
U.S. and European equities, exchange-traded products (ETPs), global
foreign exchange (FX) and multi-asset volatility products based on
the Cboe Volatility Index (VIX Index), the world's barometer for
equity market volatility.
Cboe's trading venues include the largest options exchange in
the U.S. and the largest stock exchange by value traded in
Europe. In addition, the company
is one of the largest stock exchange operators in the U.S. and a
leading market globally for ETP trading.
The company is headquartered in Chicago with offices in Kansas City, New
York, London, Amsterdam, San
Francisco, Singapore,
Hong Kong and Quito, Ecuador. For more information, visit
www.cboe.com.
Media
Contacts
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Angela
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Stacie
Fleming
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Debbie
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+44-20-7012-8950
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+1-312-786-7136
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atu@cboe.com
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sfleming@cboe.com
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dkoopman@cboe.com
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CBOE-C
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SOURCE Cboe Global Markets, Inc.