Cboe Global Markets is to migrate the Cboe Options Exchange to the company’s proprietary Bats technology on 7 October 2019. The planned migration of Cboe Options Exchange to Bats technology follows similar migrations for Cboe Futures Exchange (CFE) and C2 Options Exchange.
CFE was successfully migrated to Bats technology on 25 February 2018, while the planned migration of C2 Options Exchange is on track for 14 May 2018. Upon completion of the planned Cboe Options Exchange migration, all of the company’s equities, options and futures markets will trade on proprietary Bats technology.
Cboe Options Exchange is the company’s largest options market and offers trading through a Hybrid market model that integrates electronic and open outcry trading. The company is modifying its technology to incorporate concepts of Cboe’s Hybrid market model and replace the current Cboe Command Hybrid trading system. There are no current plans to close the Cboe Options Exchange trading floor.
Ed Tilly (pictured), Chairman and Chief Executive Officer of Cboe Global Markets, says: “The migration of Cboe Options Exchange will place the largest US options market on one of the industry’s most advanced technology platforms. We are excited about what this will mean for market participants – faster and more efficient trading on a highly scalable platform that will support an even greater array of trading tools and resources. Our multi-year platform migration is central to our commitment to providing leading-edge technology that connects customers to global markets. Ultimately, we intend to deliver a better trading experience for our customers by offering them a common, world-class trading platform across all our equities, options and futures markets.”
Chris Isaacson, Chief Information Officer of Cboe Global Markets, says: “With the migration of Cboe Options Exchange, we look forward to providing a better trading experience with proven, world-class technology that seamlessly integrates electronic and open outcry trading. Feedback from market participants is critical and we will continue to work closely with our customers to ensure we deliver the robust trading platform that meets their evolving needs. As was the case with the successful CFE migration and is the case with C2, our team will remain focused on executing a seamless technical and operational integration throughout this pivotal process.”
