Cboe Global Markets, Inc. has named Stephen Berte as President of BIDS Trading, effective from 4 April 2022.

Recently shared in a press release with Finance Magnates, Stephen Berte, a senior executive with almost twenty years of experience from the Financial industry, has been appointed by Cboe Global Markets, Inc. (Cboe: CBOE), a leading provider of global market infrastructure and tradable products, as its new President of BIDS Trading.

Berte brings nearly twenty years of experience in equity trading to the role. He will take the helm at BIDS Trading and make it an independent part of Cboe Global Markets. Additionally, he will report to an independent committee of Cboe Global Markets' Board of Directors.

A Short Review of Berte’s Vocation

Prior to the announcement, Berte has been serving Tourmaline Partners LLC as its Managing Director leading from the Boston office over the last nine months, according to his LinkedIn profile.

Before working for Tourmaline Partners, he had his sights on Liquidnet and spent almost one and a half years in sales.

The bulk of his experience came from his time with Aberdeen Standard Investments. Originally in April 2003, he joined the company as Equity Trade Administrator. After three years, he received a promotion to Head of Equity Trading Americas/Asia Pacific Basin. For close to ten years, he directed a team of regional execution strategists in various localities. From there, he was elevated to Global Head of Equity Trading. A year later, he was awarded another promotion to Head of Trading, Americas. Finally, he reached the pinnacle point at the investment company as Head of Investment Execution, Americas. For the next two years, he directed a group of investment professionals across Equity, Fixed Income, derivatives, FX and money markets in various venues across the entirety of the Americas as well as many other responsibilities.

Earlier on, he began his vocation at Standard Life Investments in Boston as Head of Equity Trading for the Americas and the Asia Pacific. Later, he was promoted to Global Head of Equity Trading and was based in Edinburgh.

The Acquisition of BIDS Trading

The acquisition of BIDS Trading was completed in December 2020. This followed Cboe and BIDS Trading's successful block trading collaboration in Europe. Though it started in 2016 with the establishment of Cboe LIS (Cboe BIDS Europe).

Additionally, by volume in the US, the company has been the largest block trading alternative trading system (ATS) for almost five and a half years. In January 2022, its block market share reached 73 percent greater than the following competitor. And, in February 2022, it handled 30 percent of the large-in-scale market in Europe and accounted for roughly €594 million in average daily volume.

BIDS' Continued Evolution

Reflecting on the announcement, Ed Tilly, the Chairman, President and CEO of Cboe Global Markets mentioned: "I am delighted to welcome Stephen Berte as the incoming new President of BIDS Trading. Stephen is an industry veteran and the extensive experience he brings to the role will serve BIDS and its customers well as BIDS looks to grow its block trading platform from number one in the U.S. to a world leader."

"I am honored to have been appointed the next President of BIDS Trading and grateful for the opportunity to lead the exceptional BIDS Trading team. This is an exciting time in BIDS' continued evolution as we look to create a global block trading enterprise and multi-asset class platform spanning North America, Europe and the Asia Pacific. BIDS has a strong foundation in place, created by a team of passionate professionals committed to innovation, best-in-class customer service and providing industry-leading technology. I look forward to leading BIDS into its next phase of growth as our team plans to bring our highly-regarded trading platform and extensive distribution network into new markets around the world," Stephen Berte said.

Cboe Global Markets, Inc. has named Stephen Berte as President of BIDS Trading, effective from 4 April 2022.

Recently shared in a press release with Finance Magnates, Stephen Berte, a senior executive with almost twenty years of experience from the Financial industry, has been appointed by Cboe Global Markets, Inc. (Cboe: CBOE), a leading provider of global market infrastructure and tradable products, as its new President of BIDS Trading.

Berte brings nearly twenty years of experience in equity trading to the role. He will take the helm at BIDS Trading and make it an independent part of Cboe Global Markets. Additionally, he will report to an independent committee of Cboe Global Markets' Board of Directors.

A Short Review of Berte’s Vocation

Prior to the announcement, Berte has been serving Tourmaline Partners LLC as its Managing Director leading from the Boston office over the last nine months, according to his LinkedIn profile.

Before working for Tourmaline Partners, he had his sights on Liquidnet and spent almost one and a half years in sales.

The bulk of his experience came from his time with Aberdeen Standard Investments. Originally in April 2003, he joined the company as Equity Trade Administrator. After three years, he received a promotion to Head of Equity Trading Americas/Asia Pacific Basin. For close to ten years, he directed a team of regional execution strategists in various localities. From there, he was elevated to Global Head of Equity Trading. A year later, he was awarded another promotion to Head of Trading, Americas. Finally, he reached the pinnacle point at the investment company as Head of Investment Execution, Americas. For the next two years, he directed a group of investment professionals across Equity, Fixed Income, derivatives, FX and money markets in various venues across the entirety of the Americas as well as many other responsibilities.

Earlier on, he began his vocation at Standard Life Investments in Boston as Head of Equity Trading for the Americas and the Asia Pacific. Later, he was promoted to Global Head of Equity Trading and was based in Edinburgh.

The Acquisition of BIDS Trading

The acquisition of BIDS Trading was completed in December 2020. This followed Cboe and BIDS Trading's successful block trading collaboration in Europe. Though it started in 2016 with the establishment of Cboe LIS (Cboe BIDS Europe).

Additionally, by volume in the US, the company has been the largest block trading alternative trading system (ATS) for almost five and a half years. In January 2022, its block market share reached 73 percent greater than the following competitor. And, in February 2022, it handled 30 percent of the large-in-scale market in Europe and accounted for roughly €594 million in average daily volume.

BIDS' Continued Evolution

Reflecting on the announcement, Ed Tilly, the Chairman, President and CEO of Cboe Global Markets mentioned: "I am delighted to welcome Stephen Berte as the incoming new President of BIDS Trading. Stephen is an industry veteran and the extensive experience he brings to the role will serve BIDS and its customers well as BIDS looks to grow its block trading platform from number one in the U.S. to a world leader."

"I am honored to have been appointed the next President of BIDS Trading and grateful for the opportunity to lead the exceptional BIDS Trading team. This is an exciting time in BIDS' continued evolution as we look to create a global block trading enterprise and multi-asset class platform spanning North America, Europe and the Asia Pacific. BIDS has a strong foundation in place, created by a team of passionate professionals committed to innovation, best-in-class customer service and providing industry-leading technology. I look forward to leading BIDS into its next phase of growth as our team plans to bring our highly-regarded trading platform and extensive distribution network into new markets around the world," Stephen Berte said.