Ed Tilly was happy to be back at the FIA Boca International Derivatives Conference in March to see industry friends, clients and competitors he had not seen since the pandemic hit in 2020. He said he appreciates the conference as an opportunity to catch up with happenings in the industry and with regulators.
Tilly said the growth and engagement for Cboe right now is across asset classes and geography, which explains a lot about the exchange’s recent global expansion. Cboe is not US-centric any more.
Cboe is seeing growth from retail trading, which is causing a re-engagement with the institutional traders because of macro events creating new hedging needs, Tilly said.
When looking to expand to new markets globally, Tilly said Cboe looks for marketplaces that allow competition. He mentioned that with the recent acquisition in Canada the exchange is getting to scale there and that it has expanded into Australia and Japan now. However, after so many deals, it is now time for system integration.
He talked about the Cboe’s technology stack and the advantages of extending the consistent experience of Cboe technology, interfaces and support across geographies and asset classes.
Tilly spoke about how Cboe approaches being a good global corporate citizen. Though ESG can be defined in various ways, and regulators are trying to define it, Tilly said it was Cboe’s associates who are leading even higher standards. Tilly also said the global exchange operator has a responsibility to bring forth products that are ESG-focused.
He spoke about the competition in the industry among the new crypto exchanges, which were fully represented at the conference. He said the technology driving these exchanges is very interesting.