Cboe Promotes Catherine Clay to Executive Vice President, Will Lead Newly Created Data and Access Solutions Division
Cboe Global Markets has promoted Catherine Clay to Executive Vice President and initiated a new Data and Access Solutions division. This division aims to integrate the company's data solutions with its market data services, enhancing customer access to real-time and historical data from various asset classes. The company anticipates organic revenue growth of 6-7% in its proprietary non-transactional revenue category, targeting approximately $350 million in 2021. Clay's leadership is expected to optimize efficiency in delivering information solutions globally.
- Creation of new Data and Access Solutions division expected to enhance customer experience.
- Anticipated organic revenue growth of 6-7% in proprietary non-transactional revenue category.
- None.
CHICAGO, March 23, 2021 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a market operator and global trading solutions provider, announced today the promotion of Catherine Clay to Executive Vice President, from Senior Vice President, Information Solutions, and the creation of a new Data and Access Solutions division within the company, which Clay will lead. She has also been appointed to Cboe's Executive leadership team.
Cboe's new Data and Access Solutions division integrates the company's suite of data solutions, analytics and indices, with its market data services offerings, to create an optimized and holistic global offering. Significantly, Cboe's market data services – real-time, historical and derived data sets, along with equities, options, futures and FX data – are expected to be made available through this new division, providing customers more efficient access to Cboe's full suite of data services. Additionally, the new division also unifies the sales teams, providing customers with a single point of contact for all of these services.
Ed Tilly, Chairman, President and Chief Executive Officer at Cboe Global Markets said: "Over the last six years, Cathy's strategic vision for growing the Information Solutions business has been instrumental to our efforts to build a more expansive suite of data analytics, market intelligence and execution services. Her expertise in integrating the company's client-facing technologies into our full suite of information solutions services has helped create a high-value offering for our customers. I am fully confident she will bring this same leadership to her role overseeing our new Data and Access Solutions division, as we look to grow the business and our market data offering globally."
Catherine Clay, Executive Vice President, Data and Access Solutions at Cboe Global Markets, said: "This is an exciting time at Cboe as we continue to diversify and expand our products, services and technology offerings on a global scale and I am excited to lead this new division. Our goal is to optimize efficiency and delivery of our information solutions to market participants across the globe and we believe this holistic approach will bring significant value to our customers. Ultimately, we aim to deliver a seamless experience for customers by providing one single source of market data, analytics and trading resources."
As the trading environment becomes increasingly globalized, customers seek more efficiency in the market infrastructure services they require, from accessing multiple asset classes across numerous geographies, to market data and analytics and trade management and execution services. Cboe's Data and Access Solutions team will be focused on addressing these client needs for global data, analytics and access services. As a result, the company believes the new division will create opportunity to further grow its base of proprietary non-transactional revenue, which was approximately
Cboe's Information Solutions comprehensive suite of data, analytics, indices and execution services empowers market participants with a wide variety of solutions that can simplify the complexities of navigating the derivatives marketplace, helping them make better informed trading decisions. Cboe's Information Solutions includes Trade Alert, Cboe Hanweck, FT Options, Cboe Silexx, Cboe LiveVol, Cboe Data Shop and Cboe Global Indices. This comprehensive offering is designed to optimize the customer experience throughout the life cycle of a transaction, from pre-trade to at-trade to post-trade, by providing market intelligence, alpha opportunities, portfolio optimizations and seamless workflows.
Cboe's market data services offer a global suite of market data products to customers to suit their diverse needs. Cboe market data solutions include low-latency, top-of-book to full depth-of-book market data feeds for Cboe's U.S. exchanges in options, equities and futures. As one of the largest pan-European exchanges by market share and value traded, Cboe provides market data with a holistic view of the pan-European equities market. Cboe also offers live and historical market data for the world's largest asset class, FX. The company's flagship Cboe One Feed provides U.S. equities reference quote and trade information to more than two million reported users globally.
Catherine Clay has been with Cboe since 2015. In her role as Senior Vice President, Information Solutions, Clay has helped clients better understand and access Cboe's market data and analytics, execution services and index businesses, and has overseen the integration of several acquisitions into the information solutions business line. Clay began her career as a clerk in Interactive Brokers' market-making unit, Timber Hill, and progressed to director of floor trading and operations. In 2006, she left Timber Hill to co-found Thales LLC, a market-making firm on the NYSE Options Floor and on the OneChicago single stock futures exchange. She joined LiveVol, Inc. in 2010 as Chief Strategy Officer. At the time of Cboe's acquisition of LiveVol in 2015, Clay held the position of Chief Executive Officer. She holds a Bachelor of Science from the University of Colorado.
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE) provides cutting-edge trading and investment solutions to market participants around the world. The company is committed to defining markets through product innovation, leading edge technology and seamless trading solutions.
The company offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S., Canadian and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and volatility products based on the Cboe Volatility Index (VIX Index), recognized as the world's premier gauge of U.S. equity market volatility.
Cboe's subsidiaries include the largest options exchange and the third largest stock exchange operator in the U.S. In addition, the company operates one of the largest stock exchanges by value traded in Europe, and owns EuroCCP, a leading pan-European equities clearing house. Cboe also is a leading market globally for ETP listings and trading.
The company is headquartered in Chicago with a network of domestic and global offices across the Americas, Europe and Asia, including main hubs in New York, London, Kansas City and Amsterdam. For more information, visit www.cboe.com.
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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as "may," "might," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.
We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
Some factors that could cause actual results to differ include: the impact of the novel coronavirus ("COVID-19") pandemic, including changes to trading behavior broadly in the market; the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes; our ability to protect our systems and communication networks from security risks, cybersecurity risks, insider threats and unauthorized disclosure of confidential information; increasing competition by foreign and domestic entities; our dependence on and exposure to risk from third parties; fluctuations to currency exchange rates; our index providers' ability to maintain the quality and integrity of their indices and to perform under our agreements; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to attract and retain skilled management and other personnel; our ability to minimize the risks, including our credit and default risks, associated with operating a European clearinghouse; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing potential conflicts between our regulatory responsibilities and our for-profit status; our ability to maintain BIDS Trading as an independently managed and operated trading venue, separate from and not integrated with our registered national securities exchanges; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; our ability to manage our growth and strategic acquisitions or alliances effectively; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; and the accuracy of our estimates and expectations. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2020 and other filings made from time to time with the SEC.
We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.
1 Guidance is as of February 5, 2021 and the company is neither updating nor reconfirming guidance in this press release.
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SOURCE Cboe Global Markets, Inc.
