Tuesday July 8 2025
News Source: Global Exchanges
Focus: Trading Systems and Technology
Type: General
Country: International
On 8th July 2025, Cboe Europe announced its plans to launch a retail-focused trading service on its Lit order book designed to enhance execution outcomes for retail investors trading stocks and ETFs across Europe. The service is scheduled to go live on 8th September 2025, subject to receiving the required regulatory non-objections in the Netherlands and the UK.
This service will offer brokers free execution of retail orders at or better than the European Best Bid and Offer (EBBO) across 18 European markets. To support this launch, Cboe Europe is also introducing a dedicated Retail Liquidity Provider (RLP) Programme, designed to enhance retail execution quality by incentivising market makers to post orders at the EBBO which are exclusively for interaction with retail order flow.
To participate in this service, brokers will be required to complete a Retail Order Attestation form, which enables designated retail orders to access retail-specific pricing and functionality. To support diverse and integrated Lit order books, these retail orders can interact with quotes from both RLPs and non-RLP participants, with executions occurring at the best available prices. When prices are equal, RLP quotes are given priority, and any remaining unmatched quantity may then interact with other available liquidity in the Lit order book.
Existing Cboe Europe participants can access the service through their current connectivity, with many already handling retail order flow and actively sending retail-attested orders.
Click on the above link for further information
