Waiting for the Switchover

For the past two years, a lot of innovation within the options market has been put on hold as the industry prepared for the switchover. No firm wanted to roll out a shiny new platform just to have to re-tool it a few months down the road. We have seen both the Chicago Board Options Exchange (CBOE) and Bats Trading delay the launch of their new options trading platforms until everyone in the industry was speaking the same lingua franca when it came to instrument identifiers (see story, page 7).

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