TRADING VENUES

Cboe Europe hires block trading sales veteran from Liquidnet

Matt Beales joined Cboe LIS last month after building buy-side relationships at Liquidnet for 15 years.

By Hayley McDowell hayley.mcdowell@strategic-i.com December 06, 2017 10:19 AM GMT

A block trading sales veteran at Liquidnet has left the firm to join Cboe Europe in a senior role overseeing sales for the exchange’s large-in-scale (LIS) trading platform.

Matt Beales joined Cboe Europe last month as director of LIS sales, while the platform set another monthly record of more than €3.3 billion traded in November.

Beales helped build Liquidnet’s customer base and buy-side relationships across Europe for 15 years. Prior to that, he worked at Deutsche Bank in various trading and risk management roles.

“[Beales] brings a wealth of block trading expertise to our team, as well as deep relationships with buy-side firms across the continent,” said Jerry Avenell, co-head of sales at Cboe Europe.

The Cboe LIS platform - launched last December - is a MiFID II compliant, equities block-trading platform, which incorporates technology from BIDS Trading in the US.

It is an indication of interest, negotiation and execution platform that allows participants to negotiate large blocks in European equities without revealing intentions to the wider market.

Beales added: “The approach Cboe has taken in working with BIDS to create a large-in-scale trading platform that meets the unique needs of the buy-side was something that really resonated with me.”

In November, Cboe LIS saw an average trade of €1,091,127 and a 6.4% increase on average daily value traded, a record for the platform.