Industry NewsJanuary 25, 2018

Cboe joins List of Approved Stock Exchanges in Hong Kong

Cboe Global Markets, Inc., one of the world’s largest exchange holding companies, announced Hong Kong’s Mandatory Provident Fund Schemes Authority (MPFA) has included Cboe BZX Exchange, Inc. in its List of Approved Stock Exchanges.
Laura Morrison, Senior Vice President, Global Head of Exchange-Traded Products at Cboe
Laura Morrison, Senior Vice President, Global Head of Exchange-Traded Products at Cboe

Laura Morrison, Senior Vice President, Global Head of Exchange-Traded Products at Cboe, commented on the approval: “Investors across the Asia Pacific region fuel significant growth in every major asset class, and we are delighted to be able to serve those customers more fully following the MPFA’s decision. We want to thank the MPFA and our partners in and around the region, in supporting this at every stage of the process.”

The recognition of Cboe’s BZX Exchange by the Hong Kong authorities should help further facilitate investment in the region in Cboe-listed securities by allowing funds to be eligible to be approved by the MPFA as eligible for sale to MPFA regulated pension funds. The company believes the MPFA decision should clear the way for additional exchange-traded product (“ETP”) transfers to Cboe.
On 22 December 2017, the Japanese Financial Services Authority (JFSA) has added Cboe Global Markets – U.S. Equities to the regulator’s list of Designated
Foreign Financial Instrument Exchanges. This recognition eases regulations related to disclosures for retail investors and certain discretionary accounts.
“We are proud to earn this distinguished designation from the JFSA,” said Laura Morrison, Senior Vice President, Global Head of Exchange Traded Products at Cboe. “My team and I are thankful for the tremendous support from dozens of
Japanese based ETF Issuers and trading firms who supported the designation.”
At the end of 2017, Cboe had 250 ETPs listed on its U.S. market from 47 issuers. The firm won 62% of new transfers and 32% of listings over the year.
Robert D’Arco, Chief Executive Officer of Rival
Robert D’Arco, Chief Executive Officer of Rival

In other news, risk management company Rival Systems announced it is ready for the planned migration of Cboe Futures Exchange (CFE) onto the Bats technology platform in late February. Beginning in February, Rival will also support market data feeds for Cboe’s U.S. equities exchanges, EDGX Equities, EDGA Equities, BZX Equities and BYX Equities.

Robert D’Arco, Chief Executive Officer of Rival, said: “Our team has been working hard to ensure we are ready well ahead of the Feb. 25 migration. We’ve conducted extensive functional and performance testing to ensure our clients have the best system in the market on day one. The migration will be seamless for our CFE futures traders as well as the VIX options market makers who drive their option quotes off of the CFE futures. Users of our Rival API will not have to make any changes to their code to migrate to the new CFE platform. We are now focused on getting the Cboe equity feeds online for our clients who run low latency equity strategies and for equity options market makers who drive their options quotes off of the equities feed.”
Chris Isaacson, Cboe Executive Vice President and Chief Information Officer
Chris Isaacson, Cboe Executive Vice President and Chief Information Officer

Chris Isaacson, Cboe Executive Vice President and Chief Information Officer, commented: “We’re pleased Rival made the migration of CFE to Bats technology a high priority and is ready for the planned February 25th transition. These efforts by customer firms are vital to a successful and seamless migration.”

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