CBOE Global Markets Inc., one of the largest derivatives networks and provider of tradable products, has announced the completion of its acquisition of Chi-X Asia Holdings, which is an alternate market and technological solutions provider.
Through this acquisition, CBOE has gained a foothold in two of the largest marketplaces in this side of the world, in Japan and Australia, and it would hope that it could use this as a pivot for further growth in this region. The company is planning for global expansion of its proprietary products and bring in new trading solutions and services to this region, those that have worked well for it in other parts of the world.
“Welcoming Chi-X Asia Pacific to the Cboe network represents an exciting milestone in Cboe’s growth story and another important step in our vision to become a truly global marketplace for our customers,” said Ed Tilly, Chairman, President and Chief Executive Officer at Cboe Global Markets. “The team at Chi-X Asia Pacific shares Cboe’s dedication to defining markets through innovative products, services, and trading solutions. We look forward to the opportunities ahead as we welcome the Chi-X team to the Cboe community and work together to accelerate Chi-X Asia Pacific’s further growth and extend Cboe’s global footprint.”
CBOE has recently announced the extension of its new block trading system called BIDS into the Canadian region and it is expected that the company would extend this solution to the Asia Pacific region as well. Chi-X Asia Pacific is expected to be fully integrated into the CBOE platform with Chi-X Japan and Chi-X Australia expected to be integrated soon after along with the BIDS solution. Once this integration is done, the company would be able to present a single platform to all its users across regions which would help to give them greater access to a variety of instruments and products on the platform and also provide more efficiency and reliability in the operations.
As it pushes along with its global expansion plans, the company has also been proposing to roll out the availability of SPX and VIX trading instruments for trading 24 hours a day. This is subject to regulatory approvals but this is another part of its plans to make its most sought after instruments available for trading across the globe which would help it to expand its footprints in an easier manner.