Cboe Options Exchange was the last one to transition to Cboe’s proprietary Bats technology, thus unifying all Cboe options, equities, and futures markets onto a single platform. This is set to enable a focus on new trading functionality and research and data platform.
The successful migration of Cboe Options Exchange, the largest U.S. options exchange, to its proprietary Bats technology, took place on October 7, 2019. The transition will provide customers with a more efficient, user-friendly trading experience that includes greater bandwidth, enhanced risk controls, and improved complex order handling.
Ed Tilly, Chairman, President and Chief Executive Officer of Cboe Global Markets, commented: “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. 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.”
Chris Isaacson, Executive Vice President and Chief Operating Officer of Cboe Global Markets, added: “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. 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.”
Cboe’s technology integration included the launch of a new index platform on January 22, 2018, the migration of Cboe Futures Exchange (CFE), the migration of Cboe Options Exchange and C2 Options Exchange, and the unification of options functionality across Cboe’s four options exchanges. In addition, S&P 500 Index (SPX) was converted to a hybrid marketplace and new floor terminals were introduced.
