Cboe Global Markets is to acquire a minority equity ownership stake in Japannext, a provider of financial services and market solutions focused on operating an alternative market.
Cboe will purchase the 14.8% ownership interest in Japannext from SBI Holdings. Financial details of the deal have not been disclosed. Cboe hopes the acquisition will help strengthen relationships within the industry and expand its presence beyond ownership of Cboe Japan, which it plans to continue to operate independent of Japannext.
Fred Tomczyk, CEO at Cboe Global Markets, said: “Japan is one of the world’s largest and most important capital marketplaces and this investment reaffirms Cboe’s strong commitment to Japan.”
Japannext CEO Masakatsu Yamada said Cboe becoming a shareholder in the company will promote innovation in the Japanese capital markets in ways that increase competitiveness, reduce trading costs and provide more choices for investors.
Yoshitaka Kitao, chair, president and CEO at SBI, said: “We recognise that Cboe and our group share many commonalities, such as leading innovation in the financial industry by leveraging cutting-edge technology. We hope to further promote initiatives that will bring new changes to the Japanese financial market and benefit Japanese investors, especially individual investors.”
©Markets Media Europe 2024
