03.29.2017

CBOE Integrating Bats Technology

CBOE Holdings Announces First Stages of Technology Integration Plan 

– CFE to Lead Planned Switch-Over to Bats Platform February 25, 2018; CBOE and C2 Options to Follow

– All CBOE and Bats Exchanges to Operate Normally During Platform Integration

– Customer Conference Call Scheduled for Wednesday, March 29, 2017, at 11:30 a.m. CT

CHICAGO, March 29, 2017 /PRNewswire/ — CBOE Holdings, Inc. (BATS: CBOE | NASDAQ: CBOE) today announced that the CBOE Futures Exchange (CFE) will be the first of the CBOE Holdings exchanges to migrate onto the Bats technology platform, with an expected switch-over on Sunday, February 25, 2018. The migration of the C2 and CBOE options exchanges will follow, with those dates to be announced later.

All CBOE and Bats exchanges will continue to operate normally throughout the migration process, and the CBOE trading floor will remain open to serve CBOE’s options market. Beginning in July, CFE trading privilege holders (TPHs) may begin requesting new connectivity and in September, basic connectivity testing will begin.  Throughout the fourth quarter of 2017 and into the first quarter of 2018, customers will be given numerous testing opportunities to ensure preparedness for CFE’s planned switch-over on February 25, 2018.

“With our two companies now united as CBOE, our team is focused on executing a seamless technical and operational integration of the CBOE, C2 and CFE exchanges onto Bats technology,” said CBOE Chief Information Officer Chris Isaacson.  “We have a detailed roadmap to navigate through this multi-year process and intend to work very closely with all industry participants to ensure a smooth migration.”

“Bringing together CBOE’s and Bats’ different, yet complementary, businesses is expected to provide many benefits to customers and enable CBOE to better serve our marketplace, including, over time, streamlining our technology,” commented Andy Lowenthal, CBOE Head of Global Derivatives. “We plan to incorporate the functionality already offered by CBOE into Bats’ state-of-the-art technology platform.”

“We look forward to delivering to market participants the planned benefits and efficiencies of this integration,” added Bryan Harkins, CBOE Head of U.S. Equities and Global FX.  “We are particularly excited about the new product opportunities and having the ability to not only touch every aspect of the product development and trading cycle, but to create strong links between CBOE and Bats asset classes that are becoming increasingly interdependent.”

An overview of the integration plan and detailed roadmap for CFE’s migration is available on the CBOE integration website at www.cboe.com/BatsIntegration. The website will serve as a primary information resource for customers and market participants throughout the integration.  This week, CBOE Holdings plans to post a Technical Integration FAQ regarding CFE-specific functionality.  Planned FAQ topics include connectivity, certifications, market data and billing. In addition, in May an updated guide for CFE Technical Specifications is planned to be posted to the website.

On Wednesday, March 29, 2017, at 11:30 a.m. CT, CBOE will hold the first of a series of informational customer conference calls covering the technology integration. The call will feature Chris Isaacson, CBOE’s Chief Information Officer, Andy Lowenthal, CBOE’s Head of Global Derivatives, and Bryan Harkins, CBOE’s Head of U.S. Equities and Global FX.

To access the conference call:

• U.S. (toll free): 1-877-883-0383
• International: 1-412-902-6506
• Participant Code: 2418559

 

About CBOE Holdings, Inc.

CBOE Holdings, Inc. (BATS: CBOE | NASDAQ: CBOE), owner of the Chicago Board Options Exchange, the Bats exchanges, CBOE Futures Exchange (CFE) and other subsidiaries, is one of the world’s largest exchange holding companies and a leader in providing global investors cutting-edge trading and investment solutions.

The company offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded funds (ETFs), and multi-asset volatility and global foreign exchange (FX) products.  CBOE Holdings’ 14 trading venues include the largest options exchange in the U.S. and the largest stock exchange in Europe, and the company is the second-largest stock exchange operator in the U.S. and a leading market globally for ETF trading.

CBOE Holdings is home to the CBOE Volatility Index (VIX Index), the world’s barometer for equity market volatility; the CBOE Options Institute, the company’s world-renowned education arm; CBOE Livevol, a leading provider of options technology, trading analytics and market data services; CBOE Vest, an asset management company specializing in target-outcome investment strategies; CBOE Risk Management Conferences (RMC), the premier financial industry forums on derivatives and volatility products; ETF.com, a leading provider of ETF news, data and analysis; and Hotspot, a leading platform for global FX trading.

The company is headquartered in Chicago with offices in Kansas City, New York, London, San Francisco, Singapore and Ecuador.  For more information, visit www.cboe.com. ­­­

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