Cboe Australia completes technology migration alongside launch of Cboe BIDS Australia

Technology migration follows Cboe’s acquisition of Chi-X Australia in 2021 and will aid expansion into Australia and Asia-Pacific, while Cboe BIDS Australia becomes first new launch post-migration.

Global market infrastructure and tradable products provider Cboe Global Markets successfully migrated Cboe Australia to the Cboe technology platform on 27 March.

Cboe Australia, which was formerly Chi-X Australia, was acquired by Cboe Global Markets in July 2021 and then later rebranded as Cboe Australia in February 2022.

“Since Cboe acquired Chi-X, we have been focused on delivering benefits to the Australian market that only Cboe can provide,” said Chris Isaacson, executive vice president and chief operating officer at Cboe Global Markets.

“Significantly, this required migrating Chi-X’s platform to Cboe technology, enabling Australian customers to benefit from our world-class innovations and seamlessly accessing Cboe’s diverse markets, asset classes, data and product suite with greater ease and efficiency.” 

Having successfully migrated to the Cboe technology platform, Cboe Australia will now have the performance and capacity to meet current and projected future capital markets trading volumes for the entire Australian equities marketplace.

“Executing the migration of Chi-X’s technology platform was a tremendous industry-wide effort and we thank our customers, vendors, regulators and other market participants for their strong engagement and support over the past year,” said Vic Jokovic, chief executive of Cboe Australia.

“This collaboration was critical in executing a smooth technical and operational migration. With this foundation now in place, we look forward to expanding the products, services and trading solutions we can provide in the Australian market.”   

Alongside the successful technology migration, Cboe launched Cboe BIDS Australia, a new large-in-scale trading offering to the Australian equities market.

Cboe BIDS Australia’s launch is planned to occur in two phases. The first phase, which launched in conjunction with the technology migration, involves brokers accessing the BIDS pool via their trading algorithms or through directed orders.

Expected to occur in the next few months, the second phase will involve broker-sponsored buy-side access through the BIDS Trader front-end.

Read more: UBS, Citi hire into APAC in desk reshuffles