Cboe Plans New Data Platform

Cboe Global Markets Inc plans to build a research and data platform that will provide its customers with trading insights and spur new financial products, the exchange operator said. The new platform would include raw market data and derived data from its existing products. The platform is still in early stages but will eventually “help fuel the long-term growth” of Cboe, Chief Executive Officer Ed Tilly said. “This is a very exciting project for our team and one that leverages unique Cboe strengths, technology, research, and development to provide tailored trading strategies for our customers and to inform the creation of new Cboe proprietary products,” said Tilly. Exchanges have increasingly been leveraging trading data to create new products, such as indices and pricing tools, as well as selling raw data for back-testing algorithms, giving them steady streams of revenue that are less dependent on market volatility than trading revenue.