CBOE Is Changing The Way Financial Services Looks At Options Data

Catherine Clay faces the challenge of keeping a company that’s nearly a half century old innovative and relevant in the ever-changing world of financial services. That’s no small task, and at the 2017 Benzinga Fintech Summit in San Francisco, Clay, CBOE Global Markets Inc CBOE's head of global data solutions, compared the task facing the company to a midlife crisis.

Clay pointed to a few initiatives that are keeping the company on the forefront of fintech innovation. The exchange company has developed new investment vehicles, such as bitcoin futures, to be rolled out in the fourth quarter of 2017.

Still, much of CBOE’s success in remaining contemporary is through acquisitions of fintech companies like Livevol and TradeLegs. Clay previously served as CEO for Livevol, a market data provider, before the company was bought by CBOE in 2015.

Livevol’s innovation in market data distribution allowed CBOE to revolutionize the way the exchange could make use of the massive quantity of options data it holds, Clay said. To learn more about the current state of innovation and new products at CBOE, watch Clay’s update below.