Cboe Global Markets has thrown its hat into a new ring with the launch of Cboe Global Listings, a global listing network to facilitate access to capital and secondary liquidity for companies and ETFs.
As the first step in its global listing vistion, from today (2 June) Cboe has enabled companies to go public on its US exchange, building on its existing US ETF listing footprint and leveraging the corporate listing expertise from Cboe Canada (formerly the NEO Exchange). Further corporate listing expansion is planned for Cboe’s stock exchanges in the Netherlands, the UK, and Australia over 2024.
From today 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’s end goal is to enable corporate and ETF listings across all its exchanges, providing issuers with best-in-class global investor exposure, global account and product management – as is already the case with Cboe’s ETF listings offering – and standardized operational support. The firm describes it as a seamless “intralisting” experience across the exchange group.
The new Global Listings service will focus of growth companies – particularly those with innovative business models operating in nascent, high-growth industries.
“Cboe has built an expansive, global equities footprint unrivalled in the industry that uniquely positions us to deliver the first-ever truly global listing experience for issuers seeking to tap new markets beyond their home region,” said Dave Howson, global president of Cboe Global Markets.
“The new Cboe Global Listings offering draws on our 50 years of markets expertise, deep regional experience in all the jurisdictions where we operate, and the combined strength of our global equities exchange network to provide locally optimized and centrally coordinated listing services and support. As companies and asset managers of the Innovation Economy seek to raise capital and grow their assets, our global reach and expertise are ideally suited to meet their unique needs.”
In North America, Cboe’s US and Canadian equities trading venues handle a combined US$61.7 billion in average daily notional value (ADNV), capturing approximately 22% of the total equities trading market share in the region. In Europe, Cboe operates the largest pan-European equities exchange, accounting for €8.4 billion in ADNV and holding a 25% share of the European equities market. In Australia, Cboe operates the country’s second-largest equities exchange with ADNV of more than AU$1.5 billion, representing approximately 19% of all daily trading in the Australian equities markets.
Abaxx Technologies today became the first company to list on the new platform.
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