Cboe Europe has unveiled plans to launch a new trading service designed to offer retail investors free access to the best available prices for equities and ETFs across 18 European markets.
Cboe Europe Announces Pan-European EBBO Trading Solution for Retail Investors
The platform, scheduled to go live on 8 September 2025 pending regulatory approval, will operate within Cboe’s existing Lit order book.
Cboe explained that retail investors using participating brokers will be able to execute trades at or better than the European Best Bid and Offer (EBBO) without incurring fees.
The service will cover more than 8,000 European stocks and ETFs and is said to be supported by the introduction of a dedicated Retail Liquidity Provider (RLP) Programme, which incentivises market makers to post competitive quotes solely for retail interaction.
“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,” said Alex Dalley, Head of European Cash Equities at Cboe Global Markets.
“We look forward to leveraging our 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.”
Retail orders will also be eligible for free execution on Cboe Europe’s Dark and Periodic Auctions order books, potentially unlocking further price improvement.
