CBOE Agrees $3.2B BATS Buy to Boost ‘Non-Transactional' Data, Index Revenues

The acquisition will significantly increase the share of CBOE's revenues that do not depend directly on transactions.

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In a presentation to shareholders and analysts, CBOE chief executive Edward Tilly said the exchange plans to "utilize BATS' market data to create new index products and services." Combining CBOE's options and futures data offering with BATS' equities, options and currency data will create an exchange with comprehensive, multi-asset class market data and connectivity services, as well as trade reporting solutions, officials say.

Tilly said CBOE has identified "several key trends which will

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