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CBOE Closes Bats Acquisition

CBOE Holdings (CBOE) announced the completion of its acquisition
of Bats Global Markets yesterday Tuesday, February 28, in a cash and stock
transaction valued at approximately $3.4 billion (based on the closing price of
CBOE shares on February 28). The combined company also announced its new
corporate leadership structure, which includes key members of both CBOE’s and
Bats’ executive teams. 
 

“Over the past several months we have been hard at work developing
a seamless integration plan, and we are excited to finally bring together our
two remarkably talented and innovative teams,” said Edward Tilly, CBOE’s chairman
and CEO.
 

“We are well-positioned to realise the benefits of joining Bats’
US and European equities, options, ETF trading and global FX platforms,
together with CBOE’s wide array of equity, ETF and index options, futures,
multi-asset volatility products and educational resources. We believe that the
resulting combination will allow us to cement CBOE’s position as the go-to
partner for developing cutting-edge trading and investment solutions,” Tilly
added.


As previously announced, Tilly will
serve as c
hairman and CEO, while Chris
Concannon
, formerly CEO of Bats Global Markets, becomes president and
COO of CBOE Holdings. Within the FX realm, Bryan Harkins was named head of US
equities and global FX, a
role he took on following the departure of Bill Goodbody in January
.

 

Julie Ros

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