Cboe LIS powered BIDS in Canada will combine MATCHNow and BIDS to create a market center for block-sized liquidity for buy-side and sell-side participants.
Tag: BIDS Trading
Alongside the acquisition, Cboe has appointed Bryan Harkins to replace BIDS Trading president Tim Mahoney as he retires after 15 years in the role.
Cboe said the deal will give it a competitive advantage in off-exchange trading, which accounts for 40% of US equities trading volumes.
The exchange said the planned acquisition of BIDS Trading will allow it to diversify its US equities offering beyond traditional exchange products and services.