CBOE seeks to boost Canadian block trading

By James Langton | June 17, 2021 | Last updated on June 17, 2021
1 min read
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Cboe Global Markets, Inc. (CBOE) is planning to step up its block-trading services in Canada early next year.

The Chicago-based firm announced that it will expand its European block-trading platform, Cboe LIS, to Canada on Feb. 1, 2022.

“The new Canadian offering, which is subject to regulatory approval, will combine industry-leading block trading capabilities from MATCHNow and BIDS to create an enhanced market center for block-sized liquidity,” CBOE said in a release.

CBOE acquired Canadian alternative trading system (ATS) MATCHNow in August 2020 and bought BIDS, which operates the largest block trading ATS in the U.S., in January of this year.

“By linking MATCHNow’s sell-side participants to BIDS’ buy-side participants, Cboe LIS is expected to deliver a greater source of block-sized liquidity to the Canadian marketplace and increase matching opportunities for all participants,” the release said.

“We  look forward to working with MATCHNow to build out the Canadian block trading market for customers globally, while executing further on our vision of growing BIDS into a global, multi-asset institutional platform,” Bryan Harkins, president of BIDS Trading, said in the release.

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James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.