Cboe Completes Migration of C2 Options Exchange to Bats Technology

Cboe Global Markets has finally migrated its C2 Options Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term‎ to the ‎Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term of Bats Global Markets, which was acquired in 2016, as the ‎trading venues continue their consolidation across all financial asset ‎classes. The switch-over process was finalized on May 14, per a company ‎statement. ‎

The merger takes advantage of Bats’ proprietary trading technologies, but the integration complexity of the two ‎companies has encouraged Cboe to make switchover timetables and dates ‎more public.‎ Upon completion of the planned migrations, all of the company’s ‎equities, options and futures markets will trade on proprietary Bats ‎technology.‎

The migration of C2 to Bats technology follows similar migrations ‎over the past months, including Cboe Futures Exchange (CFE) in ‎February 2018. ‎ The planned migration of Cboe Options, the firm’s flagship options ‎exchange, is on track for October 7, 2019, subject to regulatory approval. ‎

To this end, the exchange operator has dedicated a website for current C2’s customers to aid ‎them in their transition to BATS protocols. An overview ‎of the integration plan and detailed roadmap for C2’s migration is available ‎on the Cboe integration website at https://batsintegration.cboe.com/c2.‎

Furthermore, Cboe announced ‎additional key dates for the Cboe Options migration. By November 16, 2018, it plans to make available the technical ‎specifications for the C1 ‎Exchange migration and anticipates certification to ‎start by March 1, 2019.

On November 5, 2018, Cboe plans to roll out its new floor terminals (PAR 2.0), which ‎is expected to complete by the by year-end.‎

Commenting on the news, Ed Tilly, CEO of Cboe, 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, CIO 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. 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.”‎