Cboe Global Markets, Inc. (Cboe: CBOE), the derivatives and securities exchange network, announced it migrated Cboe Canada’s NEO-L, NEO-N, and NEO-D trading books (collectively, the NEO Trading Platform) to Cboe TitaniumSM on March 3.
Cboe Titanium is the new name of the technology platform powering Cboe‘s exchange operations for “trading equities, options, and futures across its markets globally.”
Chris Isaacson, Executive Vice President and Chief Operating Officer, Cboe Global Markets, said:
“Ultimately, Cboe Titanium is designed to offer a competitive edge by providing our clients fast, reliable access to pricing, data, and trading functionality powering faster execution times and enabling scalability through a globally consistent, yet locally optimized technology platform, providing benefits that only Cboe can provide.”
Joacim Wiklander, President and Chief Executive Officer, Cboe Canada, said:
“This collaboration was essential in executing a smooth and timely technical and operational migration. With the foundation of Cboe Titanium now in place, we look forward to building further on Cboe Canada’s mission to offer a full and integrated portfolio of trading capabilities through a single point of access, bringing greater efficiencies and enhanced quality of service to clients and the Canadian capital markets overall.”
Vincent Poil, Chief Operating Officer, Cboe Canada, said:
“Throughout migration preparations, we worked closely with clients to identify additional trading needs and, as a result, incorporated several enhancements into the migration, including redesigned opening and closing auctions and introducing the only equity binary order entry protocol currently available in Canada. We also deployed our latency equalization capability, which will allow all Cboe Canada participants to benefit from a high-performance technology platform that helps to ensure equitable access to all.”
With Monday’s migration, all Cboe Canada equities trading venues are now unified “on the Cboe Titanium technology platform – the NEO-L, NEO-N, and NEO-D trading books, along with MATCHNow, which was previously migrated in February 2022. Also included in the migration was the relocation of Cboe Canada’s primary and secondary data centers to new facilities in Toronto and Chicago, respectively.”
On January 15, Cboe unveiled Cboe Titanium, the new brand identity for its exchange technology platform, “signaling a new chapter in Cboe’s ongoing evolution and deepening commitment to delivering best-in-class trading technology and innovation for market participants around the globe.”
Cboe Titanium (or Cboe TiSM, pronounced “T-I”, like the element symbol) powers every “aspect of Cboe’s business and operations, and “helps to enable innovation across its markets, products, data, and insights.”
Cboe Titanium also powers trading of “equities, options, and futures on Cboe’s markets in the U.S., UK, Europe, Australia, Japan, and Canada.”
Using common protocols and features, Cboe’s unified technology platform is designed to offer customers “an efficient, consistent experience regardless of where they are in the world.”
Meanwhile, the flexibility of Cboe Titanium allows Cboe to “locally optimize and customize the platform for the unique needs of any market or asset class.”
This enables enhanced consistency and scalability, allowing Cboe “to build a feature or product once and then deploy it globally, bringing innovative products, features, and data to new markets and customers at greater speed.”
This effort aligns with Cboe’s global strategy and commitment “to expanding access to its markets, products, data, and services to customers across the world.”