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Cboe Periodic Auctions Go Global

Cboe Global Markets launched periodic auctions in the US in April this year after pioneering them in Europe, and may introduce the order type in other geographies according to a story in MarketsMedia news. Adam Inzirillo, head of North American Equities at Cboe Global Markets, said that periodic auctions launched in the US on April 14 and that he is encouraged with the number of clients that are currently live. “We have a global transaction strategy which is unique versus our peers as there are not too many exchange operators in Canada, US, Europe, Asia, and Japan,” he said. The exchange launched periodic auctions in Europe in 2015 ahead of the incoming MiFID II regulations which changed equity market structure. Periodic auctions last for very short periods of time during the trading day to help market participants find liquidity quickly with low market impact, while prioritizing size and price.

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