Cboe completes Chi-X Asia Pacific acquisition  

The acquisition of Chi-X Asia Pacific will establish a stronghold in the region for Cboe through direct access to the major securities markets in Japan and Australia.

Cboe Global Markets has completed its acquisition of trading venue operator Chi-X Asia Pacific after confirming the deal in March earlier this year.

Terms of the acquisition were not disclosed but the exchange said the deal was funded in cash and the purchase price was not material from a financial perspective. 

The acquisition gives Cboe a single point of access to the major securities markets in Japan and Australia and will also allow it to expand its block trading platform BIDS Trading into Asia Pacific after acquiring it earlier this year.

Chi-X Australia, which holds a 18.6% market share in the region, and Chi-X Japan, which holds a 2.5% lit market share, will give Cboe a significant foothold in the Asia Pacific region.

“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 chief executive officer 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.” 

Cboe said in April that it would be expanding the global trading hours to almost 24 hours a day for S&P 500 index options (SPX) and Cboe volatility index (VIX) options in the fourth quarter of this year to accommodate its Asia Pacific expansion. 

Alongside its Asia Pacific expansion, Cboe set out plans earlier this month further cement its presence in North America with the launch of a new block trading platform in Canada. 

Named Cboe LIS, the platform will combine the offerings of BIDS Trading and MATCHNow, also acquired by Cboe earlier this year, to bring block sized liquidity to Canadian buy and sell-side.