THETRADETECH DA I LY
in-depth
THE OFFICIAL NEWSPAPER OF TRADETECH 2018
TRADING VENUES
French regulator questions
Cboe’s periodic auction
transparency
CHAIRMAN OF THE AUTORITÉ DES MARCHÉS FINANCIERS CALLED OUT CBOE EUROPE’S PERIODIC AUCTION OVER LACK OF
TRANSPARENCY.
auction. It follows exactly what is required by
RTS 1 for periodic auction platforms. All market
participants have a clear idea of the functioning
of the Cboe Europe Periodic Auctions book and
in real time are able to see the price and quanti-
ty that is predicted to execute in the auction.”
At an earlier session during TradeTech, a panel
of periodic auction operators, including Cboe’s
Hemsley, downplayed the amount of activity
“Periodic auctions are considered
to be lit trades, but the level
of transparency is indeed very
limited. There is practically no
pre-trade transparency and no
means of fully understanding the
order book.”
ROBERT OPHÉLE, CHAIRMAN, AUTORITÉ
DES MARCHÉS FINANCIERS (AMF)
C
boe Europe’s periodic auction has been called
out by the chairman of the financial regulator
in France for its limited transparency during a
keynote address.
Robert Op