Cboe Link Direct

Relationship-Based Trading

Cboe Link Direct is a fully-disclosed execution solution that empowers institutional clients to create custom, relationship-based, dedicated pools with one or more of their preferred liquidity providers to meet their specific trading needs.

In an increasingly complex market, different orders may require different execution methods. Combined with the Hotspot Order Book and Cboe Full Amount venues, Link Direct provides clients with a flexible range of options.

  • Leverage Cboe FX's technology, credit and reporting infrastructure for low-cost management of disclosed trading relationships
  • Pre-trade identification of counterparties available via market data and trade request messages
  • Routable-by-quote matching logic enables the price taker to select LP and quote size on any given order
  • Routing functionality facilitates price taker-initiated requests to always be sent to LPs regardless of availability, improving order fulfillment
  • Notification of executions is restricted to counterparties, minimizing market impact
  • Available via ITCH market data
  • Revised specifications are now available; contact Cboe FX Trade Desk to certify

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