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Cboe Announces Successful Migration of Cboe C2 Options Exchange to Proprietary Technology Platform
[May 15, 2018]

Cboe Announces Successful Migration of Cboe C2 Options Exchange to Proprietary Technology Platform


CHICAGO, May 15, 2018 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE), one of the world's largest exchange holding companies, today announced the successful migration of Cboe C2 Options Exchange (C2) to its proprietary Bats technology, marking the latest step in the company's multi-exchange, multi-year technology integration.

 (PRNewsfoto/Cboe Global Markets, Inc.)

Trading on the new technology platform opened at 8:30 a.m. CT on Monday, May 14. At the end of the trading session at 3:15 p.m. CT that day, more than 36 participants had accessed the new platform, trading a total of 312,127 contracts. This compares to 32 participants trading 552,572 contracts on Friday, May 11, the final operational day of the prior C2 technology platform.  

New and enhanced features of the platform include better order handling and functionality, expanded support for complex orders, superior risk management and execution cost tracking; enhanced market data with microsecond timestamps, new feeds and greater post-trade visibility; robust tools, like a full-featured customer web portal and latency dashboard; and improved performance with significantly decreased latency and enhanced order bandwidth.

Ed Tilly, Cboe Chairman and Chief Executive Officer, said: "The C2 migration continues our journey toward offering our customers a single, world-class trading platform across all our equities, options and futures markets. Along with the successful Index Platform migration, Cboe Futures Exchange migration and the conversion of SPX options to a hybrid options marketplace, this is the fourth significant technology project so far this year. Chris Isaacson and his team continue to lead a seamless technical and operational integration."

Chris Isaacson, Chief Information Officer of Cboe, added: "Though we have now completed our fourth migration in five months, we remain laser focused on our goal of moving all Cboe exchanges onto Bats technology by October 2019. The extraordinary efforts of the Cboe team matched with the diligent, detailed preparations of our customers have enabled the tremendous execution of these significant migrations.  We look forward to the expected completion of the final migration next year and continuing to innovate with leading edge technology across all Cboe exchanges and platforms."

The migration of C2 follows the successful launch of a new Index Platform on January 22, 2018, the move of Cboe Futures Exchange to Bats technology on February 25, 2018, and Cboe's conversion of SPX options to a hybrid options marketplace on April 30, 2018. The final migration of Cboe Options, the firm's flagship options exchange, is scheduled for October 7, 2019, subject to regulatory approval.

Cboe expects to release technical specifications for C1 by November 16, 2018, and anticipates certification to start by March 1, 2019. In addition, new floor terminals (PAR 2.0) will be rolled out starting November 5, 2018, to be finished by year-end, subject to regulatory approval.

As Cboe has done previously with the Index, CFE and C2 migrations, the company will hold a series of customer calls to discuss the preparations and technical requirements necessary ahead of the Cboe Options migration. Additional information can be found on Cboe's technology integration microsite.





About Cboe Global Markets, Inc.


Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: 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 the second-largest stock exchange operator 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, San Francisco, Singapore, Hong Kong and Quito, Ecuador.  For more information, visit www.cboe.com.

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Cboe®, Cboe Volatility Index® and VIX® are registered trademarks and Cboe Global MarketsSM is a service mark of Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.

 

Edward T. Tilly, CBOE Holdings CEO. (PRNewsFoto/CBOE Holdings)

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/cboe-announces-successful-migration-of-cboe-c2-options-exchange-to-proprietary-technology-platform-300648338.html

SOURCE Cboe Global Markets, Inc.


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