Canada’s TMX Group acquires Aussie exchange
For Cboe, the sale is part of a strategic refocus of its business to concentrate resources on its core strengths and invest in its most compelling growth opportunities.
“The sale of Cboe Australia is a part of that strategy, allowing us to further align our organization and capital with our long-term priorities,” said Prashant Bhatia, EVP, Head of Enterprise Strategy & Corporate Development at Cboe. “Looking ahead, Cboe remains committed to maintaining a strong presence in Asia Pacific – a strategically important region where demand for Cboe’s US equities, derivatives, market data and educational offerings continues to accelerate.”
What the deal means for Canadian advisors
For most Canadian financial advisors and wealth managers, the Australia component of this transaction has limited direct implications.
Canadian investors already have access to Asia-Pacific equities and Australian-listed securities through international brokerage platforms, global custodians, and diversified ETFs and TMX’s ownership of the exchange venue in Sydney does not change that.
However, the element of the broader deal that carries greater relevance for the Canadian advice community is the still-pending acquisition of Cboe Canada.
