CBOE Staff Knew of Problems in Advance

Published on April 27, 2013
by Jacob Bunge and Jenny Strasburg

CBOE Holdings Inc. technology staff knew of software issues in the hours before the largest U.S. options exchange suffered a three-hour outage, according to people briefed on discussions among CBOE officials.

Staffers at the company, which operates the Chicago Board Options Exchange, were confident they could fix the issues, CBOE executives have told colleagues and others outside the company. One area of focus by CBOE Thursday and Friday has been whether the exchange should have moved to a backup system to be safe, the people briefed on the discussions said.

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