Cboe UK plans to launch Cboe LIS Directed IOIs
On Friday, July 9, Cboe UK plans to launch Directed Indications of Interest (IOIs) as an extension of the Cboe LIS block trading platform. The service, which will leverage the existing LIS and BIDS Trader infrastructure, will allow Cboe participants to submit targeted liquidity to their clients through Directed IOIs, for which they are acting as a Designated Broker.
Participants will require a new LIS port to submit Directed IOIs and existing manual users that connect via their OMS/EMS and BIDS Trader should register their interest with their account coverage contact, who will instruct them on how to enable this service. Testing is currently available in the Cboe LIS certification environment.
Let’s recall that, earlier in June, Cboe Global Markets announced plans to launch Cboe LIS powered by BIDS in Canada, bringing to the region an enhanced block trading service based on a successful model that it first introduced in Europe with BIDS Trading.
Planned for launch on February 1, 2022, the new Canadian offering, which is subject to regulatory approval, will combine block trading capabilities from MATCHNow and BIDS to create an enhanced market center for block-sized liquidity for buy-side and sell-side participants. With its expansion into the Canadian market, Cboe will also continue to extend its global equities block trading network to new geographies beyond the U.S. and Europe.