A bid for BIDS?
Perhaps. As first reported by Bloomberg, Cboe Global Markets Inc. is exploring buying Bids Trading LP, which runs one of the largest U.S. dark pools, according to people familiar with the matter.
Cboe has held formal talks to acquire Bids, said one of the people speaking to Bloomberg, who asked to not be identified because the discussions arent public. No decision has been made and Bids could opt to remain independent.
Representatives for BIDS didn’t immediately respond to a request for commeent. A spokesperson at Cboe said that the firm “doesn’t comment on rumors or speculation.”
One source contacted by Traders Magazine said he had heard of rumors that Cboe was interested in purchasing BIDS Trading. He noted that the two already have a working relationship in that the U.S. dark pool operator runs the exchanges non-public venue in Europe.
Ive heard the chatter about these two and I wouldnt be surprised if there is something brewing, the source told Traders Magazine. The merger makes sense as the exchange can grab market share and volume from BIDS. And BIDS is a good quality firm – theyre a great acquisition from Cboes perspective.
