|Chief Information Officer|
|Chicago Board Options Exchange|
|Last year: 8|
For Gerald OConnell the completion of a megaproject only means that new ones enter the queue. As of December 2012 the Chicago Board Options Exchange had moved its infrastructure that of its flagship market and four others it operates, along with the CBOE Command trading engine into the Equinix NY4 data center in Secaucus, New Jersey. OConnell, an executive vice president who joined CBOE in 1984 and has been CIO since 1993, has since turned his attention to opportunities in globalization and round-the-clock availability. CBOE opened a London communications hub on February 1, 2013, and extended trading in its popular Volatility Index (VIX) futures. The system is capable of running 24 hours a day, says the 62-year-old, but CBOE will increase it gradually from the current 14 hours. Were capable of doing Asian market hours, OConnell adds. That might be our next step. Another challenge: bolstering CBOEs hardware and software to prevent glitches like the one last April that caused a three-hour delay in opening. OConnell is taking steps to allow cutover to backup systems in a mere five minutes. Were doing a lot of new testing and quality assurance initiatives to detect software defects before they become a problem, he notes.
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