Cboe Australia is pleased to announce that the final regulatory and other requirements for the launch of Cboe BIDS Australia (BIDS), have been satisfied, and that accordingly BIDS will go live on Monday 27 March 2023.
Cboe BIDS Australia is a block and large-sized matching and execution service that Cboe operates under its Australian Market Licence. It allows buy and sell side traders to anonymously trade large parcels of equities on market while minimising information leakage. BIDS will launch in two phases. Access to BIDS in phase one is limited to Cboe Australia market participants. Phase two, the launch of which will be advised by Cboe Australia in due course, will enable buy-side firms to also access the service through the BIDS Trader front-end interface.
Cboe Australia has amended the Operating Rules (Rules) and Operating Rules: Procedures (Procedures) to accommodate the launch of the launch of BIDS.
The new Rules and Procedures apply from 20 March 2023, ahead of the BIDS launch. The Rules and Procedures establish the regulatory framework for the service and are available here, in both clean and marked-up versions.
Cboe Australia has also published version 1.0 of the Cboe BIDS Australia Service Description (Service Description). The Service Description provides detailed information about the operation of BIDS. Cboe Australia has also republished the following documents:
• BIDS Trading Admin Guide
• BIDS Trading Australia FIX Specification
• BIDS Trading Australia FIX Back-Office Specifications
• BIDS Trading Australia FIX Admin Function Specification
(Collectively BIDS Specifications)
The Service Description and BIDS Specifications are Technical Specifications for the purposes of the Rules and are available here.
Please address any queries to au.compliance@cboe.com
Source: Cboe
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