January 23, 2018 · Press Releases
Rival Systems Completes Certification for Cboe Futures Exchange (CFE) Migration to Bats Technology Platform
Firm Establishes Readiness Well Ahead of Feb. 25 Migration to Ensure Seamless Transition for Users
CHICAGO, Jan. 23, 2018 – Rival Systems (Rival), an award-winning provider of trading and risk management software, today announced that the firm has already established readiness for the Feb. 25 planned migration of Cboe Futures Exchange (CFE) onto the Bats technology platform. Rival has completed testing and received certification by the exchange for the integration of market data and order entry technology, promoting a seamless transition for clients participating in markets affected by the change.
Rival Systems CEO Robert D’Arco said: “Our team has been working hard to ensure we are ready well ahead of the Feb. 25 migration. We’ve conducted extensive functional and performance testing to ensure our clients have the best system in the market on day one. The migration will be seamless for our CFE futures traders as well as the VIX options market makers who drive their option quotes off of the CFE futures. Users of our Rival API will not have to make any changes to their code to migrate to the new CFE platform. We are now focused on getting the Cboe equity feeds online for our clients who run low latency equity strategies and for equity options market makers who drive their options quotes off of the equities feed.”
“We’re pleased Rival made the migration of CFE to Bats technology a high priority and is ready for the planned February 25th transition,” said Chris Isaacson, Cboe Executive Vice President and Chief Information Officer. “These efforts by customer firms are vital to a successful and seamless migration.”
Rival supports Cboe’s PITCH full depth-of-book market data feed and Binary Order Entry (BOE) to provide users with the lowest latency possible, D’Arco said. The firm also supports good-’til-canceled (GTC) orders, as well as all other order types, and provides top-of-the-line hardware, colocation hosting and market data vendor-of-record services.
Beginning in February, Rival will also support market data feeds for Cboe’s U.S. equities exchanges, EDGX Equities, EDGA Equities, BZX Equities and BYX Equities.
Rival Systems (www.rivalsystems.com) empowers professional traders with the technology and resources required to compete in today’s markets. Rival provides a comprehensive technology solution with award-winning platforms, including: Rival Trader, a sophisticated, ultra-low latency derivatives trading system; Rival API, an algorithmic strategy development framework; and Rival Risk, a fully hosted enterprise risk management platform; as well as extensive training and support. Rival Systems has distinguished itself in the industry through its premier service, exceptional speed and advanced features designed to help users gain an edge in the market.
Sara Goodman Darak
Director of Marketing, Rival Systems