The Chicago Board Options Exchange could not have become a top trading venue known for its Volatility Index and S&P 500 products without world-class technology. But when its parent, CBOE Holdings, completed the $3.4 billion acquisition of Bats Global Markets in February, the company was lifted into another league. CBOE says now it's not only No. 1 in options volume, but it also has the largest share of pan-European equities trading, ranks No. 2 in the U.S. stock exchange business, and has a significant presence in exchange-traded funds and in foreign exchange with its Hotspot business. "With Bats, CBOE leapfrogs the competition in its ability to deliver product at a faster pace," says CBOE Holdings president and chief operating officer Chris Concannon, who was previously chief executive officer of Bats. Before that, he was COO of Virtu Financial and head of transaction services at Nasdaq. Concannon, 49, is now No. 2 at CBOE, reporting to chair and CEO Edward Tilly.
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