Cboe acquiring Chi-X to enter Asia-Pacific markets
CHICAGO -- Cboe Global Markets, Inc., a market operator and global trading solutions provider, has entered a definitive agreement to acquire Chi-X Asia Pacific Holdings, Ltd. an alternative market operator and provider of innovative market solutions, from J.C. Flowers & Co. LLC.
The acquisition will provide Cboe with a single point of entry into two key capital markets - Australia and Japan - to help enable it to expand its global equities business into Asia-Pacific.
The transaction is expected to close in the second or third quarter of 2021, subject to regulatory review.
Ed Tilly, Chairman, President and CEO of Cboe Global Markets, said: "With the planned acquisition of Chi-X Asia Pacific, we continue to execute on our growth strategy by broadening our geographic and asset class presence, enabling further extension of our product offerings to our global network of customers.
This is an exciting investment in attractive, growing markets that will complement our North American and European operations and provide a foothold in the key Asia-Pacific region.
David Howson, currently President of Cboe's European operations will lead the company's business expansion into the region and has been promoted to President, Europe and Asia Pacific.