Cboe Outlines Plan for Migration to Bats Technology

Cboe Global Markets, Inc. announced that it plans to migrate Cboe Options Exchange to the company’s proprietary Bats technology on October 7, 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 February 25, 2018, while the planned migration of C2 Options Exchange is on track for May 14, 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. In addition to the ultimate migration date, Cboe announced three additional key dates for the Cboe Options migration: 1) By November 16, 2018, Cboe plans to make available the technical specifications for the Cboe Options Exchange migration, 2) On February 1, 2019, Cboe plans to begin accepting new physical connections to the new Cboe Options platform. Cboe Options Exchange will have dedicated network infrastructure and customer connections, separate from the company’s other U.S. equity and options exchanges. 3) On March 1, 2019, Cboe expects to begin the certification period for customer testing.

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