Cboe’s BIDS VWAP-X receives sell-side support ahead of October launch
New offering will allow participants to source and match liquidity at a forward benchmark price.
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.
Learn more about the four firms shortlisted for our Editors’ Choice Award for Outstanding Exchange Group this year: including Cboe Global Markets, Euronext, London Stock Exchange Group and SIX Swiss Exchange.
Through the collaboration, UK retail investors can use Freetrade’s commission-free platform to invest in German and Finnish listed stocks and clear through EuroCCP.
Following Brussel’s recent changes to MiFID II in November and with the results of the UK’s Wholesale Markets Review due to come into play early next year, these participants expect regulatory divergence to take centre stage in 2022.