Cboe Global Markets announced it had completed its acquisition of Chi-X Asia Pacific Holdings, an alternative market operator and provider of innovative market solutions. The Chi-X Asia Pacific acquisition gives Cboe a foothold in the Japan and Australia markets, establishing a presence in the Asia Pacific region for the first time.
“Welcoming Chi-X Asia Pacific to the Cboe network represents an exciting milestone in Cboe’s growth story and another important step in our vision to become a truly global marketplace for our customers,” said Ed Tilly, Chairman, President and CEO at Cboe Global Markets. “The team at Chi-X Asia Pacific shares Cboe’s dedication to defining markets through innovative products, services and trading solutions. We look forward to the opportunities ahead as we welcome the Chi-X team to the Cboe community and work together to accelerate Chi-X Asia Pacific’s further growth and extend Cboe’s global footprint.”
Through Chi-X Asia Pacific, Cboe hopes to bring new trading solutions and services to Asia Pacific, including extending the block trading capabilities of BIDS Trading to the region. BIDS, acquired by Cboe in January 2021, operates the largest block trading ATS by volume in the US, and one of the largest block trading platforms in Europe. The addition of Asia Pacific to the BIDS network is expected to create a global block trading platform to serve an even broader base of customers.
Cboe plans to fully integrate Chi-X Asia Pacific into its existing global business operations and technology platforms, beginning with the integration of Chi-X Asia Pacific and BIDS. Chi-X Australia and Chi-X Japan are slated to migrate to Cboe’s trading platform thereafter. By providing one, unified technology platform, Cboe believes it could provide market participants greater access to its diverse product set and more efficiency, resiliency and functionality when trading across its markets.