Cboe Options Exchange Integration

The migration of Cboe Options Exchange (C1) to Bats technology is targeted for October 7, 2019.† As with the overall integration, we are focused on delivering a seamless transition to best-in-class technology and will provide ample notice for any technology or functionality changes.

†Subject to regulatory review.

Migration Timeline

TARGET DATE*
MILESTONE
04/30/18
SPX A.M. settled options convert to the standard Hybrid trading platform.
11/05/18
Start of PAR 2.0 (new floor terminals) rollout.
11/16/18
Technical Specifications for C1 on Bats technology distributed to clients and available
on this integration website.
02/01/19
New physical connections to the new C1 platform will be accepted. C1 will have dedicated network infrastructure and customer connections, separate from our other U.S. equity and options exchanges.
03/01/19
Certification period for customer testing will begin.
10/07/19
Completion of C1 migration to Bats technology.

We are committed to keeping you updated on our integration progress to align the collective products and resources of CBOE and Bats to better serve our valued customers.

*While target dates are subject to change and regulatory review, any updates will be communicated to TPHs via email, on the Cboe (cboe.com and markets.cboe.com) websites and on this webpage.

* While target dates are subject to change and regulatory review, any updates will be communicated to TPHs via email and on this webpage.

TECHNICAL SPECIFICATIONS

Download PDF specification documents below.

We are committed to keeping you updated on our integration progress to align the collective products and resources of CBOE and Bats to better serve our valued customers.

TRADING HOURS

Upon migration, we expect to change trading hours for VX so there will be a post-settlement session from 3:30–4:00PM for the same business day, and trading in VX and VXT for the next business day will open at 5:00PM, rather than at 3:30PM, as it is today.

 Trading hours are set separately for each product and are listed as Central Time (CT).

We are committed to keeping you updated on our integration progress to align the collective products and resources of CBOE and Bats to better serve our valued customers.

VX FUTURES
TRADING STATE
Pre-Open
Open
Halt
Post Settlement Open
Close
Close Time for Expiring Instruments
Market Order Acceptance Time**
SUN.
4:00PM
5:00PM
MON. –THURS.
4:45PM
5:00PM
3:15PM
3:30PM
4:00PM
8:00AM on expiration Wednesday
8:30AM–3:15PM
FRI.
3:15PM
3:30PM
4:00PM
8:30AM–3:15PM
VXT FUTURES
TRADING STATE
Pre-Open
Open
Close
Close Time for Expiring Instruments
SUN.
4:00PM
5:00PM
MON. –THURS.
4:45PM
5:00PM
3:13PM
3:13PM on Tuesday prior to expiration Wednesday
FRI.
3:13PM
VXTY FUTURES
TRADING STATE
Pre-Open
Open
Close
Close Time for Expiring Instruments
Market Order Acceptance Time**
SUN.
MON. –THURS.
6:00AM
7:00AM
3:15PM
2:00PM on expiration Wednesday
7:00AM–3:15PM
FRI.
6:00AM
7:00AM
3:15PM
7:00AM–3:15PM
VU FUTURES
TRADING STATE
Pre-Open
Open
Close
Close Time for Expiring Instruments
Market Order Acceptance Time**
Limit Up/Limit Down Start Time
Limit Up/Limit Down End Time
SUN.
MON. –THURS.
6:00AM
7:30AM
3:15PM
3:15PM on Tuesday prior to expiration Wednesday
8:30AM–3:15PM
7:30AM
8:30AM
FRI.
6:00AM
7:30AM
3:15PM
8:30AM–3:15PM
7:30AM
8:30AM
VA/VAO FUTURES
TRADING STATE
Pre-Open
Open
Close
Close Time for Expiring Instruments
SUN.
MON. –THURS.
6:00AM
8:30AM
3:15PM
3:15PM on Tuesday prior to expiration Wednesday
FRI.
6:00AM
8:30AM
3:15PM

**Market orders are only accepted after the product has opened.

Customer Communications

We are committed to keeping you updated on our integration progress to align the collective products and resources of CBOE and Bats to better serve our valued customers.

Read the customer letter from Chairman and CEO Edward Tilly and President and COO Chris Concannon:
Read Letter
Read the official press release for the CBOE + Bats Integration:
Read Press Release
Read the CBOE, C2 and CFE Integration Plan for migrating to the Bats technology platform:
Read Integration Plan
Our second customer integration call took place on June 6, 2017.

CUSTOMER CALL #2

DATE: 6.6.17
TIME: 11:30 am – 12:30 pm CT
DIAL IN (TOLL FREE):
1-877-883-0383
INTERNATIONAL DIAL IN:
1-412-902-6506
PARTICIPANT CODE:
4834486

JOIN THE WEBCAST

UPCOMING CUSTOMER CALL

There are no calls currently scheduled.

PREVIOUS CUSTOMER CALLS

Date: 4.5.18
Technology Integration Call #5 – C1 Migration Plan
View Transcript / View Presentation
Date: 1.9.18
Technology Integration Call #4 – Key Upcoming Migration Dates
View Transcript / View Presentation
Date: 9.26.17
Technology Integration Call #3 – Index Migration Plan
View Transcript / View Presentation
Date: 6.6.17
Technology Integration Call #2 – C2 Migration Plan
View Transcript / View Presentation
Date: 3.29.17
Technology Integration Call #1 – CFE Migration Plan
View Transcript / View Presentation
You may find details from our first customer integration call regarding the migration of CBOE, C2 and CFE to Bats’ technology below. Our second customer integration call will take place this summer. Please stay tuned for details.

Provide Feedback

You are encouraged to contact our teams with any questions or feedback. Customer demand will be taken into account as decisions are made, so your feedback is critical in creating a marketplace that best serves your needs.

Cboe Operations Support Center

(866) 728-2263
helpdesk@cboe.com
Cboe Trade Desk

(913) 815-7001
tradedesk@cboe.com
Cboe NOC (Network Connectivity Support)

(913) 815-7005
noc@cboe.com