Euro Zone financial news

Cboe Europe enhances Cboe LIS Block Buying and selling Platform with Directed IOI service

– New service presents improved and safer workflow for the supply of block IOIs from brokers to shoppers

– Empowers high-touch and gross sales buying and selling groups by permitting them to raised goal block liquidity

– Additional expands Cboe Europe’s block buying and selling capabilities and builds on success of Cboe LIS platform

LONDON, July 20, 2021 /PRNewswire/ — Cboe Europe, a pan-European trade operator and subsidiary of Cboe International Markets, Inc. (Cboe: CBOE), right now introduced an enhancement to its block buying and selling platform, Cboe LIS, which is powered by BIDS know-how, with the addition of Directed Indication of Curiosity (DIOI) performance. The service was efficiently launched on 12 July 2021 on the Cboe UK LIS platform. Cboe plans to increase this new service to Cboe NL LIS later this 12 months, topic to regulatory approval.

This service is designed to permit brokers to focus on Directed IOIs to a bunch of their buyside shoppers. The DIOIs are made seen solely to these companies with a contra order within the Cboe LIS system and with whom the shopper has a longtime relationship. DIOIs could be flagged utilizing industry-standard qualifiers, which specifies whether or not liquidity originates from a shopper or principal move. A key function of the service is that DIOI responses are tracked, which allows Cboe LIS to offer brokers with mixture statistics to assist them measure utilization of the service.

The id of buyside companies stays nameless till the purpose of execution, permitting brokers to instantly interact shoppers for follow-on exercise, if acceptable. By leveraging the prevailing Cboe LIS platform, and BIDS Dealer front-end know-how, this service matches simply into workflows and permits brokers to ship IOIs to the buyside desktop which could be actioned with a single click on. An analogous service is already out there on the BIDS platform within the US fairness market.

The Directed IOI service was launched with Morgan Stanley as its first sellside shopper, and Cboe and BIDS are in talks so as to add additional brokers within the coming months.

Natan Tiefenbrun, Head of European Equities, Cboe Europe, mentioned: “This revolutionary new service demonstrates our dedication to working with each the buyside and sellside to resolve their workflow challenges and enhance execution outcomes. It presents an enhanced and safer workflow for the supply of block IOIs from brokers to their shoppers, via a regulated-exchange setting. We consider it improves the power of each buyside merchants and sellside high-touch and sales-trading groups to entry distinctive sources of block liquidity, automate their workflows and management data leakage.”  

Stephen Breen, Money Head of Execution Companies, EMEA, at Morgan Stanley, mentioned: “This initiative is aligned with our dedication to working with exchanges to assist product innovation and enhance finish investor execution outcomes. It’ll assist to boost the distribution of Morgan Stanley’s distinctive liquidity to its shoppers while minimizing data leakage.”

Bryan Harkins, President of BIDS Buying and selling, mentioned: “Cboe LIS, powered by BIDS know-how, has shortly established itself as one of many premier block buying and selling locations in Europe and we’re excited for it to enter a brand new section of product improvement and development. With Directed IOI performance Cboe LIS will turn out to be an much more integral a part of our shoppers’ toolkit for distributing and accessing block-sized liquidity.”

About Cboe LIS

Cboe LIS is an IOI and execution venue that was launched in 2016 in partnership with BIDS and permits market contributors to commerce massive blocks of European equities. Cboe LIS gives buy-side companies with management over their IOIs up till execution, which helps to guard towards data leakage, whereas sustaining their necessary relationships with their brokers. Moreover, Cboe LIS is exclusive in that it brings collectively the block move of each the buy-side and sell-side, which permits for better crossing alternatives.

Cboe LIS has grown to turn out to be one of many largest block buying and selling platforms in Europe. Throughout the second quarter of 2021 it reported a document market share of 24.8%[i] and roughly €370 million in common every day notional worth traded.

For extra data, please contact the Cboe Europe gross sales workforce at saleseurope@cboe.com.

About Cboe International Markets, Inc.

Cboe International Markets (Cboe: CBOE), a number one supplier of market infrastructure and tradable merchandise, delivers cutting-edge buying and selling, clearing and funding options to market contributors all over the world. The corporate is dedicated to working a trusted, inclusive world market, offering main merchandise, know-how and knowledge options that allow contributors to outline a sustainable monetary future. Cboe gives buying and selling options and merchandise in a number of asset lessons, together with equities, derivatives and FX, throughout North America, Europe and Asia Pacific. To be taught extra, go to  www.cboe.com. ­­­

Media Contacts

Analyst Contact

Tim Cave

Angela Tu



Debbie Koopman

+44-20-7012-8950

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atu@cboe.com

koopman@cboe.com

Cboe®, VIX® and Cboe Volatility Index® are registered emblems and Cboe International MarketsSM is a service mark of Cboe Change, Inc.

References to Cboe Europe and Cboe UK are references to Cboe Europe Restricted until in any other case said. References to Cboe NL are references to Cboe Europe BV

i In keeping with large xyt, an impartial knowledge and analytics agency



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