CBOE to Automate 80 Percent of Volume
EXCHANGE TECHNOLOGIES
CHICAGO--The Chicago Board Options Exchange (CBOE) is migrating more functions onto its CBOEdirect Hybrid platform, and plans to manage more than 80 percent of its volume electronically by the end of 2003, says Phil Slocum, senior vice president of trading operations.
Starting in May, the Electronic Book (Ebook) facility, which catalogs all orders in price-time sequence, will be migrated off an Amdahl mainframe and onto the Java-based CBOEdirect off-hours matching system running against Sun
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