Regulatory Uncertainty Delays C2

"When we made comments on C2 [in testimony to the SEC in late 2009], we all assumed that step-up mechanisms would be part of that business model," says Edward Tilly, executive vice chairman of the CBOE. "Now, whether or not those mechanisms are [regulated] will determine some of the algorithms and functionality that we make available [in C2]."

The SEC approved C2 in December 2009 and the CBOE plans to host its new matching engine at the Equinix New York-4 (NY4) International Business Exchange

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