CBOE - Powered by BIDS

Designated Broker Model

Institutions trade on Cboe LIS through a designated broker model, which is similar to the sponsored user model offered by BIDS Trading. This model allows institutions to choose from a list of “designated brokers” to clear and settle trades just as if a client traded with them directly. Designated brokers have a pre-existing relationship with an institution and are members of Cboe European Exchange, so they can clear and settle the trade. An institution must select a designated broker prior to submitting a firm order to trade through Cboe LIS.

Designated Brokers (EU-based Users):

  • Bank of America Merrill Lynch
  • Credit Suisse
  • DNB Bank ASA
  • Exane BNP Paribas
  • HSBC
  • Instinet Europe
  • Investment Technology Group
  • Jefferies
  • JP Morgan Securities
  • Kepler Cheuvreux
  • Morgan Stanley
  • Nordea Bank AB
  • RBC Europe Ltd.
  • Redburn
  • Sanford C. Bernstein Ltd.
  • Societe Generale
  • UBS
  • Vontobel

Introducing Brokers (US-based Users)

  • Bank of America Merrill Lynch
  • Cabrera Capital Markets, LLC
  • Credit Suisse
  • Instinet
  • Jefferies
  • JP Morgan Securities
  • Kepler Cheuvreux
  • Mischler Financial Group
  • Morgan Stanley
  • Redburn
  • Sanford C. Bernstein & Co, LLC
  • UBS

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*BIDS Trading is not affiliated with Cboe. BIDS affiliate, BIDS Global Services, has licensed certain technology to Cboe for the purpose of operating Cboe LIS.