Cboe Appoints Wei Liao for Derivatives Market Intelligence in APAC

Cboe Global Markets has announced the expansion of its Derivatives Market Intelligence franchise into the Asia Pacific region with the strategic hire of Wei Liao as Director of Derivatives Market Intelligence. Based in Hong Kong, Liao will lead the buildout of Cboe’s market intelligence and content presence in APAC as part of the company’s broader effort to meet rising demand for derivatives trading, data, and client education across international markets.

The initiative marks a significant step in the global expansion of Cboe’s Global Derivatives business, following strong growth across U.S. and European markets. Liao will focus on delivering regional insights and customized analysis to both institutional and retail clients, supporting increased engagement and adoption of Cboe’s flagship derivatives products, including S&P 500 Index (SPX) options, Cboe Volatility Index (VIX) options and futures, and Russell 2000 Index (RUT) options.

“APAC is a key region where options and futures are gaining rapid momentum”

Mandy Xu, Global Head of Derivatives Market Intelligence at Cboe, commented, “As global interest in derivatives continues to rise, investors are increasingly turning to Cboe as a source for trusted market intelligence and strategic insights. APAC is a key region where options and futures are gaining rapid momentum among both institutional and retail investors, and with that, we see a significant opportunity to serve this market through expanded data access and client education. With her background as a portfolio manager and trader, Wei brings deep market expertise, a seasoned practitioner’s perspective, and a client-first mindset – all of which are critical as we work to close the education gap and support the region’s next phase of growth. I’m thrilled to welcome her to the team.”

Cboe reported record growth in its proprietary products during Global Trading Hours, reaching an average daily volume of 124,600 contracts in Q1 2025 — a 36% increase over the same period in 2024. The firm aims to build on this momentum with localized outreach and educational efforts tailored for APAC investors.

Wei Liao brings over 15 years of experience in trading, macroeconomic research, and portfolio management. She previously held positions at CQS Asset Management as a portfolio manager and was the founder of Watercourse Macro Found, a hedge fund with a focus on derivatives.

Commenting on her new role, Wei Liao said, “I’m excited to join Cboe at a time when derivatives adoption is accelerating globally, especially in the APAC region. Cboe’s Derivatives Market Intelligence group has built a reputation for its unparalleled market insights and strong commitment to client engagement – earning a wide following among institutional and retail investors, media, and other industry participants alike. I look forward to expanding on the team’s work, deepening our impact in APAC and helping our clients here navigate today’s complex markets with actionable, data-driven insights.”