Cboe Unveils New Brand for Exchange Technology Platform, Marking New Chapter in Technology Innovation and Growth

Rhea-AI Summary

Cboe Global Markets (CBOE) has unveiled its newly branded exchange technology platform, Cboe Titanium (Cboe Ti), marking a significant milestone in its technological evolution. The platform powers Cboe's options, equities, and futures markets across the U.S., UK, Europe, Japan, and Australia.

Cboe Canada is scheduled to migrate to Cboe Ti on March 3, 2025, while cash-settled bitcoin and ether futures contracts will transition to the Cboe Futures Exchange running on Cboe Ti in Q2 2025. The platform maintained 100% uptime across 25 of its 27 global platforms and achieved over 99.9% uptime across all platforms during 2024's heightened volatility.

Notable improvements include a new access architecture for U.S. options handling approximately 100 billion quotes and orders daily, and the introduction of Dedicated Cores service, which reduced latency by 60% in the U.S. and is expanding to other regions.

Positive

• Platform achieved 100% uptime across 25 of 27 global platforms in 2024
• Dedicated Cores service reduced latency by 60% in U.S. operations
• Successfully handles ~100 billion quotes and orders daily across four options exchanges
• Global expansion of technology platform across multiple regions

Negative

• None.

Insights

Market Research Analyst

The rebranding of Cboe's exchange technology platform as Cboe Titanium represents a strategic milestone in the company's global infrastructure consolidation. The completion of technology migrations in H1 2025 will create a unified, globally consistent trading platform across multiple asset classes and geographies. The platform's performance metrics are impressive, with 100% uptime across 25 of 27 global platforms and handling of approximately 100 billion quotes and orders daily in U.S. options alone.

The new Dedicated Cores service has achieved a 60% latency reduction for customers in the U.S., with expansion to UK, EU and soon Australia. This technological advancement strengthens Cboe's competitive position in the global exchange market, particularly in high-frequency trading where microseconds matter. The platform's ability to locally optimize while maintaining global consistency creates significant operational leverage for future product launches and market expansion.

Technology Expert

The architectural design of Cboe Ti demonstrates sophisticated engineering principles. The platform's ability to maintain standardized protocols while allowing for local customization is technically impressive. This microservices-based approach enables rapid feature deployment across markets while respecting regional requirements - a complex balance in financial technology.

The migration of crypto futures from Cboe Digital to CFE running on Cboe Ti signals a strategic consolidation of digital asset trading infrastructure. This integration could potentially reduce operational complexity and improve market efficiency. The platform's demonstrated reliability under high-volume conditions (99.9% uptime across all platforms) indicates robust system architecture and effective capacity management.

• Cboe's exchange technology platform branded as Cboe Titanium^SM (Cboe Ti^SM)
• Titanium chosen as namesake to reflect Cboe Ti's lightweight strength, durability and resilience
• New brand marks the milestone of Cboe's final technology migrations to be completed in the first half of 2025

CHICAGO, Jan. 15, 2025 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today unveiled a new brand identity for its exchange technology platform, signaling an exciting 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. The technology platform powering Cboe's world-class exchange operations for trading options, futures and equities across its markets globally is now named Cboe Titanium^SM (Cboe Ti^SM).

"Cboe capped off another strong year of growth, delivering trading solutions and products to help customers around the globe navigate markets. Underpinning this success is Cboe's leading-edge technology, which not only powers every aspect of our business and operations, but also helps to enable innovation across our markets, products, data and insights," said Chris Isaacson, Chief Operating Officer at Cboe Global Markets. "Inspired by titanium's exceptional durability and resilience, our new brand identity – Cboe Titanium, or Cboe Ti for short – aims to reflect the enduring strength, reliability and transformative power of our technology platform.  As we look to the next chapter of Cboe's growth, Cboe Ti will continue to deliver the world-class trading experience that our equities and derivatives customers globally have come to expect, helping to enable efficient price discovery, robust liquidity and opportunities for diverse trading strategies – all on a unified global technology platform." 

Cboe Ti (pronounced "T-I", like the element symbol) powers Cboe's options, equities and futures markets in the U.S., UK, Europe, Japan and Australia, with Cboe Canada expected to migrate to Cboe Ti on March 3, 2025. Cboe also plans to transition its cash-settled bitcoin and ether futures contracts, currently available for trading on the Cboe Digital Exchange, to the Cboe Futures Exchange (CFE) running on Cboe Ti in the second quarter of 2025, pending regulatory review. This will conclude a multi-year effort to bring all Cboe's equities and derivatives markets across the globe onto a unified, globally consistent, yet locally optimized technology platform.

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 Ti 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.

Cboe expects to continue to invest in and scale its global technology infrastructure, operations and capabilities to meet market demand. Amid heightened volatility and record trading volumes in 2024, Cboe maintained 100% uptime across 25 of its 27 global platforms and achieved greater than 99.9% uptime across all 27 platforms. In U.S. options, where Cboe handled in 2024 approximately 100 billion quotes and orders a day across its four options exchanges, Cboe introduced a new access architecture to provide customers greater consistency for quoting and accessing liquidity. In equities, Cboe introduced Dedicated Cores, an optional service designed to help enhance consistency and improve overall performance for customers. Dedicated Cores reduced latency for customers who have purchased the service by 60% in the U.S. and has now been introduced in the UK and European Union, with plans to launch in Australia this month, pending regulatory approval.

Through powering trading operations, Cboe is committed to utilizing Cboe Ti to build a trusted global marketplace. To learn more, visit www.cboe.com/titanium.     

About Cboe Global Markets

Cboe Global Markets (Cboe: CBOE), the world's leading derivatives and securities exchange network, delivers cutting-edge trading, clearing and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives and FX across North America, Europe and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more about the Exchange for the World Stage, visit www.cboe.com.

Cboe Media Contacts			Cboe Analyst Contact
Angela Tu	Tim Cave			Kenneth Hill, CFA
+1-646-856-8734	+44 (0) 7593-506-719			+1-312-786-7559
atu@cboe.com	tcave@cboe.com			khill@cboe.com

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Cboe® and Cboe Global Markets® are registered trademarks of Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.

Cautionary Statements Regarding Forward-Looking Information

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 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 or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our dependence on and exposure to risk from third parties; global expansion of operations; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our growth and strategic acquisitions or alliances effectively;  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 minimize the risks, including our credit, counterparty, investment, 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; 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; the impacts of pandemics; the accuracy of our estimates and expectations; litigation risks and other liabilities; and risks relating to digital assets, including winding down the Cboe Digital spot market and transitioning digital asset futures contracts to CFE, operating a digital assets futures clearinghouse, cybercrime, changes in digital asset regulation, and fluctuations in digital asset prices. 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, 2023 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.

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SOURCE Cboe Global Markets, Inc.

FAQ

When will Cboe Canada migrate to the new Cboe Titanium platform?

Cboe Canada is scheduled to migrate to Cboe Titanium (Cboe Ti) on March 3, 2025.

What performance improvements did CBOE's Dedicated Cores service achieve?

CBOE's Dedicated Cores service reduced latency by 60% for customers who purchased the service in the U.S.

When will CBOE transition its crypto futures to Cboe Titanium?

CBOE plans to transition its cash-settled bitcoin and ether futures contracts to the Cboe Futures Exchange running on Cboe Ti in the second quarter of 2025, pending regulatory review.

What was CBOE's platform uptime performance in 2024?

CBOE maintained 100% uptime across 25 of its 27 global platforms and achieved greater than 99.9% uptime across all 27 platforms in 2024.

How many quotes and orders does CBOE handle daily in U.S. options?

CBOE handles approximately 100 billion quotes and orders a day across its four options exchanges in the U.S.