The Weekly News Roundup is your weekly recap of CBOE features, options industry news and VIX Index and volatility-related articles from print, broadcast, online and social media outlets.
One Company, Indivisible, with Unity, and Multi Asset Class Trading for All
CBOE announced that it completed its acquisition of Bats Global Markets on Tuesday. The combined company also announced its new corporate leadership structure, which includes key members of both CBOE’s and Bats’ executive teams.
The new company offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded funds (ETFs), and multi-asset volatility and global foreign exchange (FX) products. CBOE Holdings’ 14 trading venues include the largest options exchange in the U.S. and the largest stock exchange in Europe, and the company is the second-largest stock exchange operator in the U.S. and a leading market globally for ETF trading.
In the photo, CBOE Chairman and CEO Edward Tilly, and President and COO Chris Concannon, speak with employees at a town hall meeting that was video streamed to the company’s global offices.
Information on the integration, including profiles of the new leadership team, can be found on the new CBOE-Bats integration website.
“CBOE Reaches for New Heights with $3.4 Billion Deal for Bats Global Markets” – Robert Reed, Chicago Tribune
“CBOE Completes $3.4 Billion Bats Acquisition” – Hayley McDowell, The Trade
“Old School Trading Pits to Remain After High-Tech Exchange Deal” – Brain Louis, Bloomberg
VIDEO: “Business First AM – Wednesday, March 2, 2017
VIX Fix: Which Way to Go?
New week, new high for the Dow. A well-received speech from the President on Tuesday, sent the Dow Jones Index soaring past the 21,000 mark, another new all-time high. Meanwhile, in a speech to the Executives’ Club of Chicago on Friday, Federal Reserve Bank Chair Janet Yellen intimated that a rate hike may be on the table as soon as March, giving stocks a mixed end to the week. After a brief mid-week spike, the CBOE Volatility Index (VIX) closed the week in the 11 range once again.
“VIX: The Truth about a Very Misunderstood Index” – Steven Sears, Barron’s
“What Does Mr. Market Know?” – Steve Sosnick, Barron’s
“The Fed is Worried about a Key Measure in the Stock Market” Frank Chaparro, Business Insider
“Stock-Volatility Wagers Pick Up” – Gunjan Banerji, The Wall Street Journal
“The Fix is in, So Hurry and Place Your Bets” – Arya Nakhhavani, Seeking Alpha