Cboe Global Markets and SBI Holdings have signed a Memorandum of Understanding (MoU) in which they agree to discuss collaboration opportunities in the areas of traditional and digital finance.
Subject to any applicable regulatory approvals, the MoU lays the foundation for the potential exchange of resources in regard to planned joint business initiatives in equities, digital assets and other financial products and services.
The MoU will also allow Cboe and its Japanese equities market, Cboe Japan, to increase its reach to additional investors and expand its presence in the Asia Pacific financial markets.
Meanwhile, SBI will be able to leverage Cboe’s expertise in equities and digital assets to help the firm expand its offering and global distribution network.
“Cboe is pleased to enter into this memorandum of understanding with SBI and we look forward to working together to leverage the expertise of our respective companies in mutually beneficial ways,” said Ed Tilly, chairman and chief executive officer, Cboe Global Markets.
“SBI’s diverse business across financial services, including its leadership position in Japanese equities, will provide the opportunity for Cboe to expand our presence in the region, bringing innovative technology, products and services to even more investors.”
Speaking on the MoU, Yoshitaka Kitao, representative director, chairman, president and CEO of SBI Holdings said: “The chemistry between the two companies will bring about new waves of changes to the Japanese financial market and promote regulatory reforms in Japan that will benefit investors in Japan, especially, the retail investors, and ultimately contribute to solving the long-standing social issue of ‘shifting from savings to investment’.”