Cboe Appoints Stephen Berte President of BIDS Trading

Cboe Global Markets, Inc. announced the appointment of Stephen Berte as President of its BIDS Trading unit, effective April 4, 2022.  Mr. Berte is joining BIDS from Tourmaline Partners, where he was a Managing Director and founded and led its Boston office. Mr. Berte started his career in equity trading with Standard Life Investments in Boston. Cboe completed its acquisition of BIDS Trading in December 2020. The 2020 acquisition followed Cboe and BIDS Trading's successful block trading collaboration in Europe, which began in 2016 with the creation of Cboe LIS, now known as Cboe BIDS Europe.  Cboe then launched Cboe BIDS Canada on February 1, 2022, bringing Cboe BIDS' leading block trading capabilities and block-sized liquidity to Canadian investors. Building on the success of the Cboe BIDS block trading offering in the U.S., Europe and Canada, Cboe now plans to launch, pending regulatory approvals, Cboe BIDS Australia in 2023 followed by Cboe BIDS Japan. 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. Mr. Berte 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.