ASIC acknowledges today’s announcement by TMX Group Limited (TMX), Canada’s largest financial market infrastructure group, that it has entered into an agreement to purchase Cboe Australia and Cboe Canada.

The deal is subject to ASIC’s regulatory approval. ASIC will seek to expedite its assessment of the application.

Should the purchase go ahead, ASIC expects an orderly transition to new ownership with continuity of fair, orderly and transparent market operations.

Background

TMX is a global exchange group. It operates Canada’s core financial market infrastructure, including the Toronto Stock Exchange and TSX Venture Exchange for equities, Montréal Exchange for derivatives, and post‑trade services that provide central counterparty clearing, clearing, settlement, custody, and depository functions for Canadian securities markets.

Cboe Australia currently has around 20% of Australia’s equity market turnover, representing approximately $2 billion of trades each day.

Last year ASIC approved Cboe Australia’s listing application (25-227MR).

Chi-X Australia was launched in Australia in 2011 as a competitor to the ASX, introducing an alternative trading venue for ASX-listed securities and contributing to increased competition and innovation in the Australian equities market. It was acquired by Cboe Global Markets in 2021, becoming Cboe Australia.