June 6, 2023
Stock Exchanges: Cboe Moves Beyond Options
Cboe Global Markets – which, as the “rebranded” Chicago Board Options Exchange, continues to be one of the world’s largest option exchanges – announced last week that it is going to begin listing corporate stocks in the US. All Cboe-listed stocks in the US and Canada can also be made available for trading in the Netherlands and the UK, with Australia to follow.
Cboe has been around for 50 years as an options exchange, but when it comes to listing company stocks, it is a new player. It joins upstart national securities exchanges like the Long-Term Stock Exchange (all 24 national securities exchanges are listed on the SEC’s “Self-Regulatory Organizations” page). It says it is not aiming to compete with the existing large exchanges – rather, it wants to focus on the “purpose-driven innovation economy.” Here’s more detail:
Uniquely focused on powering the purpose-driven Innovation Economy, Cboe Global Listings aims to serve growth companies – particularly those with novel business models operating in nascent, high-growth industries – and innovative investment products that are addressing world challenges and shaping the economies of tomorrow.
Abaxx Technologies, a fintech company, will be the first issuer listed on Cboe’s global platform. Abaxx went public on Cboe Canada in December 2020.
– Liz Dunshee