The Chicago Board Options Exchange (CBOE), the largest U.S. options exchange, announced today that it has been selected by CIO magazine as a recipient of the 2007 CIO 100 Award. The 20th annual award program recognizes organizations around the world that exemplify the highest level of operational and strategic excellence in information technology (IT).
According to Abbie Lundberg, Editor in Chief of CIO magazine, "The CIO 100 award recipients serve as industry role models for business and IT excellence. This year's winners demonstrate extraordinary results in a variety of important areas, including business transformation, collaboration, customer innovation and top line contributions."
"Since creating the listed options market in 1973, CBOE has maintained its leadership position through vision and innovation and that is especially true when it comes to technology. CBOE's most significant invention to date is the Hybrid Trading System, which combines the functionality of electronic and open outcry trading. CBOE's Hybrid System is the most unique market model in our industry, and distinguishes CBOE in a fiercely competitive and crowded field," said CBOE Chairman and CEO William J. Brodsky. "We salute our CIO Gerald O'Connell and the outstanding work of his technology development and support team. We congratulate them on receiving this honor."
"CBOE's Hybrid Trading System offers customers unparalleled choice and a trading experience that has helped to propel CBOE's growth in volume and market share. The fact that it was designed and built in house is a credit to our entire team," said Executive Vice President and Chief Information Officer Gerald T. O'Connell. "From the development of the Remote Market Maker system to multi-product spread functionality, we are continually creating new ways to advance the technology available to our traders and customers. We are thrilled to be recognized by the CIO 100 Awards as a leading technology company."
Other awards received by CBOE for excellence or innovation can be viewed at http://www.cboe.com/awards.