CBOE Expands EMS Connectivity Between Traders and Workstations

Buyside traders are now going to get a new service that provides them with direct electronic access to their brokers.

The Chicago Board Options Exchange announced that it is collaborating with LiquidityBook, a financial services technology company that specializes in multi-platform messaging, to expand connectivity to its CBOE PULSe trader workstation.

The PULSe trader workstation (PULSe) is a next-generation execution management system that allows traders to simultaneously and electronically access the markets via Direct Market Access (DMA), advanced routing and high-touch broker relationships. The PULSe Execution Management System (EMS) offers connectivity to CBOE, C2 Options Exchange (C2) and CBOE Futures Exchange (CFE?), as well as other equity and options exchanges in one low-cost platform. Value-add features include rule 15c3-5 risk controls, 12 leg complex orders, specialized index trading tickets and CBOE extended trading hours access.

LiquidityBook, with expertise in designing global Financial Information Exchange (FIX) platforms, as well as its Order Management System (OMS), is working with CBOE to develop and support a FIX network for CBOEs PULSe users and their clients. This new technology expands access to the PULSe trader workstation, allowing for direct, electronic access for upstairs customers, both retail and institutional, to floor brokers and other PULSe users. With LiquidityBook, these customers will have the ability to send, execute and confirm orders electronically with the CBOE PULSe community.

Our new LiquidityBook technology will not only facilitate faster workflow from start to finish for users, it will add significant value in several aspects. For example, traders can now utilize PULSe-to-PULSe routing to electronically access CBOEs brokerage community from third-party and proprietary systems, said Andy Lowenthal, CBOE Senior Vice President of Business Development, in a release. This increases workflow efficiency, enhances compliance reporting and improves execution quality by bridging the gap between electronic systems and the excellent open-outcry liquidity at CBOE.

LiquidityBook is certified with every OMS vendor for two-way FIX