Cboe BIDS Australia announced that it will start its activities on March 27th, 2023, following all necessary regulatory and other regulations.
Cboe Australia is introducing a new trading platform, BIDS Australia, in two stages. To start, only market participants of Cboe Australia will have access. Later, buy-side firms will be able to use the BIDS Trader front-end interface, though a launch date has yet to be announced.
BIDS Australia is licensed to operate in Australia. It provides anonymous bulk trading of equities for both buyers and sellers, helping to reduce the risk of information leaking out.
Cboe BIDS has already created branches in Europe and Canada, and Cboe BIDS Europe is now the largest electronic block trading platform, taking up 36% of the market, according to info revealed in September. The Australian launch is set to happen next week, and the Japanese branch is planned to start up in the final quarter of 2023.
The annoucement stated:
Cboe Australia has amended the Operating Rules (Rules) and Operating Rules: Procedures (Procedures) to accommodate the launch of the launch of BIDS. The new Rules and Procedures apply from today, 20 March 2023, ahead of the BIDS launch.
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