Cboe Global Markets to Migrate Corporate Data and Analytics Platform to Snowflake Data Cloud

Cboe Global Markets to Migrate Corporate Data and Analytics Platform to Snowflake Data Cloud

  • Snowflake will help transform Cboe’s internal data and analytics infrastructure into a modern cloud architecture

  • Provides more scalable and efficient platform for centralizing, integrating, and analyzing Cboe’s proprietary data

  • Enhances operational performance and capabilities to enable rapid analytics both internally and for customers

  • Furthers Cboe’s effort to move toward more cloud-based solutions

CHICAGO, July 28, 2022 /PRNewswire/ — Cboe Global Markets, Inc. (Cboe: CBOE), a leading provider of global market infrastructure and tradable products, today announced it is leveraging Snowflake, the Data Cloud company, to migrate its corporate data and analytics from on- premises systems to the cloud. The adoption of Snowflake’s Data Cloud will help transform Cboe’s data and analytics infrastructure into a modern cloud architecture, bringing speed, scalability, and efficiency to the company’s handling of its internal, proprietary data and analytics.

(PRNewsfoto/Cboe Global Markets, Inc.)

(PRNewsfoto/Cboe Global Markets, Inc.)

The flexible and highly scalable Snowflake Data Cloud platform, which can operate across different infrastructure cloud providers and regions as a single cloud, will help enable Cboe to employ additional tools to its existing data sets, expanding the way it aggregates and mines its data. Ultimately, this is expected to improve Cboe’s capabilities in the ways it can analyze data, and derive rapid analytics to provide intelligence both internally and for customers.

“Cboe will leverage Snowflake to accelerate our cloud migration journey and modernize how we manage and utilize our proprietary corporate data and analytics for our benefit and that of our customers,” said Eileen Smith, Senior Vice President, Data and Analytics, Cboe Global Markets. “Snowflake offers a highly flexible and scalable Data Cloud platform that will enable our teams to handle increasing amounts of data with greater speed and efficiency, improving our capabilities for managing, mining, and analyzing that data internally across our global business and sharing those insights with our customers. We look forward to the many expected benefits that Snowflake will provide.”

Cboe also plans to utilize Snowflake as a security data lake to unify data for efficient detection and response and other cybersecurity use cases. Additionally, the migration to Snowflake’s Data Cloud creates the opportunity for Cboe to potentially create new data products and services, while expanding data access for market participants through Snowflake’s cloud capabilities and unique distribution channels, such as Snowflake’s Secure Data Sharing.

“The successful financial services companies of tomorrow know that they need to provide a seamless data experience,” said Rinesh Patel, Global Industry GTM Lead, Financial Services, Snowflake. “The work Cboe is doing to modernize their data and analytics infrastructure and deliver faster, better insights to their internal teams and clients is a model for how the financial services industry must modernize, deliver on a more customer-centric model of operation and take advantage of the data monetization opportunities that exist in financial services.”

Cboe continues to move toward more cloud-based solutions and the engagement with Snowflake is part of its ongoing global cloud strategy.

In November 2021, in a separate initiative, Cboe launched Cboe Global Cloud, a new real-time, cloud-based market data streaming service that aims to optimize the efficiency and delivery of Cboe’s data services for market participants globally. Cboe Global Cloud is designed to enable customers to directly access real-time Cboe data from multiple locations around the world with as little as an internet connection. In addition, Cboe Global Cloud helps bring Cboe’s wide array of real-time data products together onto a unified platform, providing customers a simple and efficient way to receive a variety of real-time data via a single access point. For more information, visit the Cboe Global Cloud website.

About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE), a leading provider of market infrastructure and tradable products, delivers cutting-edge trading, clearing and investment solutions to market participants around the world. The company is committed to operating a trusted, inclusive global marketplace, providing leading products, technology and data solutions that enable participants to define a sustainable financial future. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives and FX, across North America, Europe and Asia-Pacific. To learn more, visit www.cboe.com.

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Cboe® and Cboe Global Markets® are registered trademarks of Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.

Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as “may,” “might,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential ” or “continue,” and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.

We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security risks, cybersecurity risks, insider threats and unauthorized disclosure of confidential information; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our dependence on and exposure to risk from third parties; fluctuations in currency exchange rates; factors that impact the quality and integrity of our indices; the impact of the novel coronavirus (“COVID-19”) pandemic; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit and default risks, associated with operating a European clearinghouse; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing potential conflicts between our regulatory responsibilities and our for-profit status; our ability to maintain BIDS Trading as an independently managed and operated trading venue, separate from and not integrated with our registered national securities exchanges; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; our ability to manage our growth and strategic acquisitions or alliances effectively; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; the accuracy of our estimates and expectations; litigation risks and other liabilities; and operating a digital asset business. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2021 and other filings made from time to time with the SEC.

We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

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SOURCECboe Global Markets, Inc.

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