Stock trader Cboe buys Canada’s NEO stock exchange

A Chicago Board Options Exchange (CBOE) Global Markets sign hangs at its head office in Chicago, Illinois, USA, September 19, 2018. REUTERS / Michael Hirtzer

NEW YORK, Nov. 15 (Reuters) – Cboe Global Markets (CBOE.Z) on Monday announced that it has agreed to buy Canadian exchange operator Aequitas Innovations Inc, known as NEO, for an undisclosed amount, thereby expanding its North American imprint in the latest of a series of recent acquisitions.

Trading levels jumped at the onset of COVID-19 and remained high, benefiting traders like Cboe, the third largest US stock operator by volume.

The NEO deal, which is expected to close in the first half of 2022, pending regulatory approval, will give Cboe a fully registered stock exchange in Canada in addition to the alternative trading system MATCHNow, which it acquired last year. , creating large-scale operating economies. .

Together, the two trading platforms hold around 16.5% of the Canadian stock market and will be better positioned to compete with Toronto Stock Exchange operator TMX Group (X.TO).

“The addition of NEO to the Cboe network allows us to better create a first-class equity offering in Canada, strengthening our global markets in North America, Europe and Asia-Pacific, and bringing us one step closer to our vision of building one of the world’s largest global derivatives and equity trading networks, ”said Ed Tilly, CEO of Cboe.

Over the past month, Cboe announced its agreement to acquire cryptocurrency trading platform Eris Digital Holdings (ErisX), a spot and derivatives exchange for digital assets; announced that it was a limited partner in the planned acquisition of trading software company Trading Technologies International; and said he plans to launch a new platform for trading US Treasuries. Read more

NEO also offers quotation and market data services, and its sister company, NEO Connect, provides a distribution platform supporting mutual funds, private funds and corporate bonds.

Chicago-based Cboe operates equity, derivatives and currency trading platforms and products in North America, Europe and Asia-Pacific.

Reporting by John McCrank; Editing by Dan Grebler

Our Standards: Thomson Reuters Trust Principles.


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