Cboe bursa operator will buy Canadian NEO exchange by Reuters

By John McCrank

NEW YORK (Reuters) – Cboe Global Markets (NYSE 🙂 said on Monday that Aequitas Innovations Inc. of Canada had refused to buy a stock exchange operator known as NEO in exchange for a North American spread in a recent final chain. acquisitions.

The level of trading rose at the beginning of COVID-19 and remained high, benefiting exchange operators like Cboe, the third largest stock exchange operator in the US by volume.

The NEO agreement, which is expected to close in the first half of 2022, pending approval of the regulations, will give Cboe a fully registered securities exchange in Canada, in addition to the alternative trading system MATCHNow it bought last year, creating operational efficiencies despite scale. .

Together, the two trading platforms have a 16.5% share of the Canadian stock market and will be in a better position to compete against the Toronto Stock Exchange’s TMX Group operator.

“Adding NEO to the Cboe network allows us to better create a first-class equity offering in Canada, strengthening our global markets in North America, Europe and Asia Pacific, and bringing us one step closer to building our vision of one of the world’s largest global derivative and stock trading networks.” said Ed Tilly CEO of Cboe.

Last month, Cboe said Eris Digital Holdings (ErisX) agreed to buy a cryptocurrency trading platform, an exchange of spots and derivatives for digital assets; Trading Technologies International announced that it was a limited partner in the planned acquisition of the trading software company; and said he intended to launch a new US Treasury trading platform.

NEO also offers listing and market data services, and provides a distribution platform that supports its sister company, NEO Connect, mutual funds, private funds and private corporate bonds.

Cboe of Chicago trades in trading platforms and products in equities, derivatives and currencies in North America, Europe and Asia Pacific.