The CBOE Futures Exchange (CFE) will be the first of CBOE’s trading platforms to migrate onto the Bats technology platform.
The CFE will adopt Bats trading platform from February 2018, followed by its C2 and CBOE options exchanges soon after.
“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,” said 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.”
The migration to the Bats platform will be the first move to merge its trading technology, following completion of the CBOE-Bats merger.
CBOE also plans to launch a new set of market data services, as well as expanding into the exchange traded fund (ETF) market.
“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,” added Bryan Harkins, head of US equities and global FX, CBOE.