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News Coverage

BIDS Trading New President

New York, NY – March 16, 2022

Dear BIDS Trading Users,

We are pleased to share with you that Stephen Berte will join BIDS Trading as our new President, beginning April 4. You can read the press release issued this morning here.

Stephen is an industry veteran who brings a wealth of experience to the role, joining BIDS Trading from Tourmaline Partners in Boston, where he was a Managing Director and founded and led its Boston office. Prior to Tourmaline, he held various positions with Standard Life Investments, including Head of Equity Trading for the Americas and Asia Pacific; Global Head of Equity Trading; and Head of Investments Execution for all asset classes in the Americas across equity, fixed income, derivatives, FX and money markets. He also served as a member of both the Investment Management Committee and the Executive Management Committee with the firm.

He assumes the leadership of BIDS at an exciting time in our  continued evolution as we look to create a global block trading enterprise and multi-asset class platform spanning North America, Europe and Asia Pacific. Building on the success of the BIDS offering in the U.S. and Europe, last month, Cboe BIDS Canada was launched, bringing our leading block trading capabilities and block-sized liquidity, along with our extensive distribution network, to Canadian investors. We now look to bring the Cboe BIDS block trading offering, pending regulatory approvals, to Australia in 2023 followed by Japan.

Our entire team remains committed to innovation, best-in-class customer service and providing industry-leading technology. At the heart of everything we do, we remain focused on providing client-driven solutions that enhance your trading experience.

BIDS Trading is an essential part of Cboe’s global growth strategy and we’re excited about the future as we  expand into new geographies around the world under Stephen’s leadership.

If you have any questions, please don’t hesitate to reach out to one of us or your BIDS Sales Rep with any questions.  Thank you for your continued support and business.

Cboe maintains BIDS as an independently managed and operated trading venue and broker/dealer, separate from and not integrated with the Cboe U.S. securities exchanges. Stephen will lead BIDS Trading as an independent business within Cboe Global Markets, reporting into an independent committee of the board of directors of Cboe Global Markets.