Cboe Europe to launch EBBO retail trading solution
The offering will provide retail investors with free execution of retail orders at, or better than, EBBO across 18 European markets.
The offering will provide retail investors with free execution of retail orders at, or better than, EBBO across 18 European markets.
Changes will halt European plans by Cboe, Aquis and PureStream – powered by Nasdaq – to launch trajectory offerings on the continent which were scheduled for the coming months.
Further appointments include a new head of sales for European cash equities and a continental EU sales head.
New offering will allow participants to source and match liquidity at a forward benchmark price.
The service is the first of its kind in Europe for equities and will be offered through block trading platform Cboe BIDS Europe.
Annabel Smith explores the potential contenders to provide the European equities consolidated tape following the opening of ESMA’s consultation, unpacking the watchdog’s rules around consortiums, the future role of data providers, and assessing if anyone will step up to the plate to contend with EuroCTP, the only current bidder and exchange-backed initiative.
Effective from today, the new sweep order types will allow participants to access the dark, periodic auction and lit order books without the need to submit multiple orders.
Among the proposals is a 10% double volume cap in return for looser restrictions on systematic internalisers and a close-to-real-time consolidated tape.
Regulatory reform, payment for order flow, market transparency, UK/EU divergence and of course consolidated tape are the hot topics of 2023, according to our market experts.
Learn more about the five firms shortlisted for our Editors’ Choice Award for Outstanding Equities Trading Venue this year: including Aquis Exchange, Cboe Europe, Euronext, Nasdaq European Markets and Turquoise.