In Case You Missed It: January 2021
Cboe Global Markets Completes Acquisition of BIDS Trading, the Largest Independent Block Trading ATS in the U.S.
Cboe Global Markets™ announced it acquired BIDS Trading on January 4. BIDS Trading is a registered broker-dealer and the operator of the BIDS Alternative Trading System (ATS), one of the largest block-trading ATS by volume in the U.S. The ATS operated by BIDS Trading is not a registered national securities exchange or a facility thereof. The acquisition provides Cboe with a competitive foothold in the off-exchange segment of the U.S. equities market and the opportunity to expand its global footprint and diversify its product and service offerings in markets beyond U.S. equities and options.
WFE Focus Magazine: Ed Tilly on the Lessons and Challenges of 2020
In WFE’s Focus Magazine, Cboe Chairman, President and CEO Ed Tilly reflects on 2020 and shares his key takeaways from a challenging year and what it was like to lead his team through the unknown. Tilly also looks ahead to 2021 and shares what he expects will be key themes for the year.
Cboe Global Markets Reports December and Full Year 2020 Trading Volume
Cboe Global Markets reported December and full year 2020 trading volume on January 6. Cboe set multiple volume records in 2020, including a total options volume record of more than 2.5 billion contracts and a total U.S. equities volume record of more than 436 billion shares. Additionally, U.S. equities average daily volume (ADV) increased 50 percent, options ADV was up 38 percent and global FX average daily notional value (ADNV) was up 7 percent, compared to 2019. Cboe will share more details about its 2020 performance during its quarterly earnings call on February 5.
Cboe To Introduce New Choice Program for ETP Lead Market Makers, Beginning February 1
Cboe plans to introduce a new incentive program that aims to help further enhance market quality for primarily listed exchange-traded products (ETPs) on Cboe BZX Exchange™, beginning Monday, February 1, subject to regulatory review. Cboe previously offered the market's first-of-its-kind incentive program that awarded lead market makers (LMMs) a flat daily fee, rather than payment based on assigned ETPs' transaction volume, to help incentivize LMMs to provide liquidity in newly launched or thinly traded ETPs. Following extensive consultation with ETP industry participants, Cboe plans to offer an enhanced incentive program that builds upon the success of its previous program and provides LMMs with additional flexibility and choice in selecting the incentive model that best suits their needs.
Cboe Options Institute Debuts “The Week that Was”
In “The Week that Was,” Kevin Davitt, Cboe Options Institute Senior Instructor, compiles a concise weekly recap of what happened in the market and tees up what to watch for in the week ahead. Find the update each week on Cboe Insights.
Cboe Women’s Initiative Hosts Guests to Discuss Male Allyship in the Workplace
The Cboe Women’s Initiative recently hosted a fireside chat with David G. Smith, Ph.D. and W. Brad Johnson, Ph.D., authors of “The Good Guys,” which focuses on how men can be better allies for women in the workplace. During the fireside chat, Dr. Smith and Dr. Johnson shared research from their book and discussed the importance of male allyship in the workplace. This event was part of a speaker series that features speakers from outside of the company who provide new perspectives on topics related to gender equality and supporting women in the workplace.
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