On 1 November 2025, the Australian Securities and Investments Commission (ASIC) acknowledged Cboe Global Markets’ decision to sell its Australian and Canadian market businesses i.e. Cboe Australia and Cboe Canada, as part of a global strategic realignment focusing on its core derivatives business. ASIC observed that Cboe had reaffirmed the strong performance of both operations and their positioning for continued growth within a supportive regulatory environment that promotes competition. The Commission confirmed that it will work closely with Cboe throughout the divestment process to ensure an orderly and transparent transition to suitable new ownership while maintaining market integrity and investor confidence.
ASIC’s Response to Cboe’s Decision
“ASIC will work closely with Cboe throughout the sale process to promote an orderly transition of Cboe Australia to a suitable buyer.” ASIC highlighted that promoting competitive, resilient, and effective capital markets remains a key supervisory priority. The regulator also reaffirmed its ongoing engagement with market operators to ensure that the divestment process upholds the principles of fair competition and operational continuity. ASIC noted that it had approved Cboe Australia’s listing application on 7 October 2025 (25-227MR), reinforcing its regulatory support for competitive exchange frameworks in Australia.
Cboe Global Markets and Its Operations
Cboe Global Markets provides trading, clearing, and investment solutions in multiple asset classes, including equities, derivatives, and FX across North America, Europe, and Asia Pacific. Founded in 1973 as the Chicago Board Options Exchange, Cboe has grown into one of the world’s largest exchange operators. In Australia, the company entered the market in 2011 under the brand Chi-X Australia, providing a competitive alternative to the Australian Securities Exchange (ASX). Following its acquisition by Cboe Global Markets in 2021, the platform was renamed Cboe Australia. The exchange currently accounts for around 20 per cent of national equity market turnover, equivalent to nearly two billion dollars of trades daily.
ASIC acknowledged Cboe’s stated commitment to ensuring a smooth transition for both its Australian and Canadian businesses. The Commission emphasised that competition has strengthened Australia’s financial markets by driving innovation, enhancing liquidity, and reducing trading costs. ASIC also noted that Cboe’s entry and continued participation have played a pivotal role in achieving these benefits.
“Competition has brought innovation, resilience, greater liquidity, and lower costs to Australia’s securities markets, benefiting investors, companies, and the broader economy. ASIC considers that Cboe has played a critical role in delivering these outcomes.”
As part of its ongoing focus on capital markets, ASIC announced that it will publish its Response to Work on Evolving Capital Markets on 5 November 2025, followed by the Inquiry into ASX Group i.e. a review examining governance, capability, and risk management frameworks, by 31 March 2026. The outcomes of these reports will inform ASIC’s next steps in ensuring that Australia’s market infrastructure remains competitive and robust under evolving global conditions.
