Sunday, April 15, 2012

Chicago Board Options Exchange plots move to Secaucus


>>Hence the move to Secaucus. Doing so will shave execution times down to as low as 100 to 300 microseconds, said Gerald O’Connell, chief information officer at CBOE. A millisecond is a thousandth of a second, while a microsecond is a millionth of a second.
Gerald O'Connell, chief information officer of CBOE
The exchange’s main electronic trading platform will be moved into a facility known as NY4, an otherwise anonymous warehouse that sits alongside Secaucus Road. The size of several football fields, the two-story building is a modern marvel of electrical systems, fiber optics and air-conditioning to keep countless computer cabinets running day and night, O’Connell said. And it is all mostly unmanned.
Already, CBOE houses two of its electronic exchanges at NY4 – its secondary options market C2 came online there when it was launched in 2010, and it moved an associated stock exchange there from Chicago last year. In addition to its flagship options platform, the exchange also will move the matching engines for its futures exchange and single-stock futures exchange to Secaucus. Meanwhile, it completed its purchase of the National Stock Exchange in Jersey City in January. Operations, however, still will be monitored from Chicago, where its backup facilities will remain.

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