TMX Group has agreed to acquire the Australia and Canada exchange
businesses of Cboe Global Markets in a US$300 million deal. The transaction
covers Cboe Australia and Cboe Canada and is subject to regulatory approvals in
both countries. The two businesses are expected to close in separate
transactions once approvals are completed.
Singapore
Summit: Meet the largest APAC brokers you know (and those you still don’t!).
The deal reverses Cboe’s earlier expansion into Canadian equities market
infrastructure. The company built its
presence through acquisitions including NEO and MATCHNow, positioning
itself as a competitor in Canada’s trading landscape.
Cboe
Trading Venues Move to TMX
The assets include equities trading venues, listing platforms, and market
data services. Cboe Australia operates trading and listing services for
equities and exchange-traded products and recently received a licence for
corporate listings.
Cboe Canada operates MATCHNow and the NEO trading and
listing venues, along with ETF and CDR listings.
TMX Group said the acquisition will expand its capital markets
infrastructure and support its long-term growth strategy. It also said the
transaction is expected to reduce complexity for Canadian market participants.
Cboe Global Markets said the businesses had delivered stable performance.
Chief Executive Officer Craig Donohue said they are well positioned for their
next chapter and that the company will work with TMX, regulators, and clients
to support a smooth transition.
TMX
Adds Revenue-Generating Exchange Assets
The combined Cboe Canada and Cboe Australia businesses generated about
$87 million in revenue in 2025 and around $25 million in adjusted EBITDA. TMX
said the deal is expected to be accretive to adjusted earnings per share within
12 months of closing, excluding synergies.
The transaction also reflects Cboe’s broader shift toward derivatives and
data-focused operations, with reduced emphasis on regional equities exchange
assets.
TMX said the acquisition of Cboe Australia will extend its access to
Australia’s capital markets ecosystem, while the Canada deal is expected to
improve market access and execution quality.
This article was written by Tareq Sikder at www.financemagnates.com.
Source
