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Submitted URL: https://go.bats.com/e/123862/pe-equities-trading-cboe-bids-/j1svsx/1544565426?h=gjJotDgkRQKPlWs8XWdfnDnC-jyMdvywYd5Z...
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Submission: On April 18 via api from CH — Scanned from DE
Effective URL: https://www.cboe.com/europe/equities/trading/cboe_bids/
Submission: On April 18 via api from CH — Scanned from DE
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CBOE GLOBAL MARKETS
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HOMECBOE BIDS EUROPE SERVICE
* Broker List
* Sell Side Go Live
* Buy Side Go Live
* Markets
* European Equities
* Trading
* Cboe BIDS Europe Service
Cboe BIDS Europe Service
CBOE BIDS EUROPE SERVICE
Cboe BIDS Europe is an indication of interest (IOI) negotiation and execution
platform allowing market participants to trade large blocks of European equities
without revealing their IOI to the wider market.
PAN-EUROPEAN BLOCK TRADING PLATFORM
MIFID II buy-side demand has led to more innovation of block trading platforms.
In turn, this has led to higher volumes that has helped the buy-side find
natural contras. Cboe BIDS Europe is the fastest-growing block venue in Europe
with trading available in more than 6,000 symbols across 17 major European
markets including equities, depositary receipts and ETFs.
ACCESS AND SEAMLESS INTEGRATION
This service is powered by proven software used by the BIDS ATS, combined with
the Cboe Europe exchange infrastructure required for trade execution, clearing
and settlement. Cboe BIDS Europe is fully compliant with MiFID II regulations.
The BIDS Trader interface is seamlessly integrated into buy-side order
management systems (OMS), with Cboe sell-side participants also able to enter
IOIs through FIX connections.
HOW IT WORKS
1. IOIs submitted to the Cboe BIDS Europe system to identify potential matches.
2. The platform interacts with buy-side and sell-side to firm up the IOI.
3. A Designated Broker is selected by the buy-side trader to execute the
transaction.
4. The trade is executed on-Exchange through the Cboe Recognised Investment
Exchange.
5. The trade is sent to clear under Cboe’s interoperable model and reported to
the Designated Broker via a drop copy or trade data files
6. The trade is reported through the Cboe CXE or Cboe DXE market data feed as
an off-book, on-Exchange trade in real time
BUY-SIDE DEALER TOOLS
Cboe BIDS Europe allows buy-side traders to maintain control over their IOI via
the BIDS Trader software, which reads from their OMS/EMS.
* Filtering and scorecards assist in protecting IOI interaction
* Flexibility to select Designated Brokers based on existing relationships
* Directional information is not published and users are never aware of the
identity of their counterparty
* No information about IOIs is exposed unless there is a bona fide opportunity
to trade
* Minimum size requirements are based on the ESMA large in scale table for Cboe
DXE, and the FCA large in scale values for Cboe CXE
GET CONNECTED TODAY
Sell Side Go Live
Buy Side Go Live
Direct and Designated Brokers
Find out which brokers are currently connected to Cboe BIDS Europe.
Broker List
Pricing
Cboe BIDS Europe has a competitive pricing model that is transparent and
publicly available.
Trading Price List
MONTHLY TRADING STATISTICS
EMAIL SUBSCRIPTION
MIC: LISX AND LISZ
RESOURCES
* Fact sheet (English)
* Fact sheet (German)
Visit Document Library for specifications and other resources.
CUSTOMER COVERAGE
Access open to buy-side firms via their OMS/EMS while still maintaining
sell-side broker relationships.
HOURS AND HOLIDAYS
08:00-16:30 (UK)
Full list available on our website
CONNECTIVITY
Sell-side FIX IOI entry
Buy-side BIDS/OMS/EMS interface
CLEARING
Cboe's interoperable model: choose from Cboe Clear Europe NV, LCH Ltd and SIX
x-clear
CONTACTS
MATT BEALES
Senior Director, European Sales
+44 207 131 3418
mbeales@cboe.com
WILLIAM GOURHANT
Cboe BIDS Specialist, European Sales
+44 207 131 3417
wgourhant@cboe.com
SALES
+44 207 012 8906
saleseurope@cboe.com
TRADE DESK
+44 207 012 8901
tradedeskeurope@cboe.com
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