TRADING VENUES

Cboe LIS sees trading milestone from MiFID II preparation

Cboe Europe Equities saw a number of milestones in December for its LIS platform and Periodic Auctions order book.

By Joe Parsons joe.parsons@thetradenews.com January 03, 2018 1:38 PM GMT

Cboe Global Markets recorded a new block trading milestone for its European equities exchange in preparation for MiFID II, which has gone live for Europe.

Cboe Europe Equities, formerly known as Bats Europe, traded more than €20 billion in notional value on its European large-in-scale (LIS) block trading platform since its launch in December 2016.

In addition, in December it set a new monthly record for its Periodic Auctions order book, with average daily notional value (ADNV) of €37.5 million, up by nearly half from November.

The Cboe LIS platform 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.

“With MiFID II now in effect, we believe Cboe LIS and our periodic auctions book are well-poised to further benefit from the changing market dynamics that we expect will occur this year,” said Mark Hemsley, president of Europe, Cboe.