(RTTNews) - Cboe Global Markets, Inc. has agreed to acquire BIDS Trading, a registered broker-dealer and the operator of the BIDS Alternative Trading System. Cboe said the planned acquisition of BIDS Trading will provide an opportunity to diversify its U.S. equities offering beyond traditional exchange products and services. Cboe expects to maintain the BIDS ATS as an independently managed and operated trading venue, separate from and not integrated with the Cboe U.S. securities exchanges.
Cboe Global Markets noted that the purchase price is not material from a financial perspective. Cboe anticipates BIDS Trading acquisition to be immediately accretive to the company's earnings, contributing adjusted earnings per share of approximately $0.05 - $0.06 in 2021.
Cboe and BIDS Trading started working together in 2016 to create Cboe LIS, a European equities block trading venue.
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