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CBOE: Integrated Extensibility

Published in Automated Trader Magazine Issue 24 Q1 2012

When it comes to senior technology personnel, not many exchanges enjoy the continuity of the Chicago Board Options Exchange (CBOE), the oldest and largest U.S. options exchange and creator of listed options. Gerald O'Connell, CBOE Holdings' Executive Vice President and CIO has worked there since 1984 and been in his present role since 1993. He talks to Automated Trader about the thinking behind, and evolution of, the exchange's current CBOE Direct technology - and its key role in supporting the exchange's business model both now and in the future.

CBOE: Integrated Extensibility

When was the starting point for the exchange's current technology?

Our core CBOE Direct technology had its origins around about 2000. We developed the platform in anticipation of competition in the option space from the ISE. However, when we designed it, we also wanted it to also be capable of handling stocks and

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