Cboe announces leadership for new Markets Division

Firm also outlines plans to migrate Cboe Options Exchange onto Bats proprietary technology.

Cboe has appointed Andy Lowenthal and Bryan Harkins as the co-heads and executive vice presidents of its newly-established Markets Division.

The Markets Division combines Cboe’s product, sales, business development and account coverage personnel across the exchange group’s US equities and options, ETP listings, global derivatives and FX businesses. 

Lowenthal was previously head of Cboe’s global derivatives group, which included the operator’s four options exchanges, Cboe Futures Exchange (CFE), and products related to the Cboe Volatility Index (VIX). Harkins previously led Cboe’s US equities business, comprising four distinct stock exchanges, as well as the firm’s global FX business.

“Andy and Bryan are highly accomplished executives with complementary backgrounds. Their joint leadership will connect opportunities across our diverse set of products and drive their team towards ambitious and exciting goals,” said Ed Tilly, Cboe’s chairman and CEO.

“By combining teams with incredible expertise, the new Markets Division is structured to better leverage a deep pool of talent to serve our global customers even more efficiently.”

Cboe has also announced it will be migrating Cboe Options Exchange to the company’s proprietary Bats technology on 7 October next year.

The migration follows successful project carried out on the Cboe Futures Exchange (CFE) earlier this year, while the firm’s C2 Options Exchange is currently undergoing its own migration, scheduled for completion in May.

“With the migration of Cboe Options Exchange, we look forward to providing a better trading experience with proven, world-class technology that seamlessly integrates electronic and open outcry trading,” commented Chris Isaacson, chief information officer of Cboe Global Markets.

“Feedback from market participants is critical and we will continue to work closely with our customers to ensure we deliver the robust trading platform that meets their evolving needs. As was the case with the successful CFE migration and is the case with C2, our team will remain focused on executing a seamless technical and operational integration throughout this pivotal process.”