Bats has announced plans to launch a new complex order functionality on its EDGX options exchange.
The expanded service will include new order handling, risk management and trade through protections and will form the foundation for all complex orders handled by CBOE markets.
Bats said it was designed with the goal of creating the most efficient and adaptable complex order book in operation.
Chris Isaacson, chief information officer at Bats, explained the upgrade will be critical as the exchange migrates markets to proprietary Bats technology.
Kapil Rathi, senior vice president of options business development at Bats, added the EDGX order book was developed in collaboration with the exchange’s clients.
“This customer-focused approach will continue to inform our development work across our derivatives businesses, and we look forward to communicating with the broader industry as we develop and define the next additions to the CBOE options marketplaces,” he said.
The new order book is expected to launch on 23 October this year and is subject ot regulatory approval.