Cboe Has Record Month For Block Trades
Cboe Global Markets, Inc. (Cboe: CBOE), one of the world’s largest exchange holding companies, today reported that its European block trading platform, Cboe LIS, set a new monthly record in October with average daily notional value (ADNV) traded of €348 million, up 27.7% from its previous record month in July 2018.
October was an exceptional month for Cboe LIS. Average daily notional value traded was a record €348 million, up 27.7% from its previous record month. #largeinscale #blocktrading https://t.co/enVAyDqWQF pic.twitter.com/1vB339S36D
— Cboe (@CBOE) November 5, 2018
When looking at large-in-scale (LIS) activity taking place on non-displayed venues, Cboe LIS accounted for 22% of that volume in October, according to data analytics provider big xyt.
Mark Hemsley, President of Cboe Europe, said: “October was an exceptional month for Cboe LIS, which continued to be the fastest growing block trading platform in Europe. We have received positive feedback from both buy-side and sell-side firms who appreciate the diversified order flow, information leakage protection and seamless and easy to use nature of the platform.”
Cboe LIS is an indication of interest (IOI) and execution venue, powered by BIDS technology, that allows market participants to trade large blocks of European equities. Cboe LIS provides buy-side firms with control over their IOIs up until execution, which helps to protect against information leakage, while maintaining their important relationships with their brokers. Additionally, Cboe LIS is unique in that it brings together the block flow of both the buy-side and sell-side, which allows for greater crossing opportunities.
Settling US shares into DTC allows global investors to trade more shares through one connection.
The priority should be to ensure continuity of cross-border services and avoid market fragmentation.
Nearly a dozen retail brokers have joined to evaluate how market infrastructure and rules should evolve.
With Adam Conn, Head of Trading, Baillie Gifford
Clients will have the ability to interact with a larger liquidity pool while minimizing market impact.