The Chicago Board Options Exchange (CBOE) said it plans to locate electronic trading operations for its all-electronic exchange, currently known as C2, at the Equinix New York-4 (NY4) International Business Exchange data center in Secaucus, N.J.
The decision to locate C2 at the NY4 center brings all the benefits of the operations CBOE currently has in the Chicago area to the immediate proximity of the leading market participants in the New York area, reducing the latency in an industry where milliseconds can make a significant difference," said Gerald O'Connell, executive vice president and chief information officer for Chicago Board Options Exchange. SEC approval of C2 is pending, and CBOE has not yet announced an official launch date for the new exchange.
Equinix is a provider of global data center services. Its NY4 center is the companys largest data center in the U.S., and, after a full build out, will be 340,000 square feet -- the size of five football fields. Power operations include a backup system that provides uninterrupted power even in the event of utility power disruption. Security features include interlocking "mantrap" doors, multiple layers of biometric hand-geometry scanners controlling access, as well as 24-hour security officers and hundreds of surveillance cameras.
This story originally appeared on the Securities Industry News Web site.
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