Cboe Europe to Launch New Retail Trading Service in September

Cboe Europe is set to launch a new retail-focused trading service on its existing Lit order book on September 8, 2025, pending regulatory approval. The platform aims to allow retail investors using participating brokers to execute trades at or better than the European Best Bid and Offer (EBBO) without incurring fees.

The new service will cover more than 8,000 European stocks and ETFs and will be supported by a dedicated Retail Liquidity Provider (RLP) Programme. This program is designed to incentivize market makers to post competitive quotes specifically for interaction with retail order flow.

Alex Dalley, Head of European Cash Equities at Cboe Global Markets, commented, "This service is our latest innovation, developed through close collaboration with our retail broker participants seeking to trade at EBBO or better in a simple and cost-effective way." He added that Cboe looks forward to leveraging its "pan-European footprint, unrivalled range of trading mechanisms and strong industry relationships to enhance the trading experience for retail investors and the firms that support them."

In addition to trading on the Lit order book, retail orders will also be eligible for free execution on Cboe Europe's Dark and Periodic Auctions order books, which could potentially offer further price improvement opportunities for investors.