- Cboe leverages its existing network of stock exchanges in five
markets around the world to facilitate access to capital and
liquidity across the globe
- Cboe Global Listings focuses on growth companies and asset
managers committed to innovation with a global impact
- Abaxx Technologies to become first "intralisted" company to
list on both Cboe U.S. and Cboe Canada exchanges, with shares also
available for trading on Cboe UK and Cboe Netherlands
exchanges
CHICAGO and TORONTO, June 2, 2023
/PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), the world's
leading securities and derivatives exchange network, announces the
launch of Cboe Global Listings, the first-of-its-kind, global
listing network facilitating worldwide access to capital and
secondary liquidity for companies and ETFs.
Cboe® has a 50-year proven track record as an innovator and
market disruptor, including launching and operating leading
equities exchanges in North
America, Europe, and
Asia Pacific. Today, as a first
step of delivering on its global listing vision, Cboe has enabled
companies to go public on its U.S. exchange, building on its
successful U.S. 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
20241.
Beginning today, all Cboe-listed stocks in the U.S. 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. In summary, a seamless "intralisting"
experience within a single exchange group.
Uniquely focused on powering the purpose-driven Innovation
Economy, Cboe Global Listings aims to serve growth companies –
particularly those with novel business models operating in nascent,
high-growth industries – and innovative investment products that
are addressing world challenges and shaping the economies of
tomorrow.
"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."
Cboe's equities markets are among the most liquid in the world. In
North America, Cboe's U.S. and
Canadian equities trading venues handle a combined $61.7 billion in average daily notional value
(ADNV), capturing approximately 22 percent of the total equities
trading market share2 in the region. In Europe, Cboe operates the largest pan-European
equities exchange, accounting for €8.4 billion in ADNV and 25
percent share of the European equities market. In Australia, Cboe operates the country's
second-largest equities exchange with ADNV of more than $AUD 1.5
billion, representing approximately 19 percent of all daily trading
in the Australian equities markets.
Abaxx Technologies to Become First Intralisted Company on
Cboe Global Listings (NEO: ABXX)
Along with today's launch, Cboe Global Listings also prepares to
welcome Abaxx Technologies, Inc. ("Abaxx"), an archetype of the
purpose-driven Innovation Economy, as the first intralisted
issuer3 on its global platform. Abaxx Technologies is
building Smarter Markets: markets empowered by better tools, better
benchmarks, and better technology to drive market-based solutions
to the biggest challenges facing society, including climate change
and the energy transition.
Abaxx initially went public in December
2020 on Cboe Canada (operating as the NEO Exchange in
Canada). Abaxx has received
conditional approval to be intralisted on Cboe U.S., in addition to
its current listing on Cboe Canada. Upon intralisting, common
shares of the company's stock will also be tradeable on the Cboe UK
and Netherlands exchanges.
"Abaxx has been a valued partner of Cboe Canada over the years,
and we are excited to deepen our relationship by welcoming them to
the Cboe Global Listings network," said Jos Schmitt, President and
CEO of Cboe Canada and SVP, Head of Global Listings for Cboe Global
Markets. "Through our extensive global exchange network, Abaxx can
access key financial markets around the world to gain greater
investor exposure, liquidity, and capital-raising opportunities to
accelerate their growth – in addition to benefiting from Cboe's
best-in-class global service and support. Our mission is to help a
regional listing transition to a global success, and we are
committed to championing Abaxx's continued growth as the first
intralisted issuer with Cboe, the Exchange for the World Stage."
"Our upcoming intralisting is a significant milestone for Abaxx
as we continue to advance our mission toward Smarter Markets," said
Josh Crumb, President and CEO of
Abaxx Technologies Inc. "With our shares listed and tradeable
across multiple Cboe stock exchanges around the world, we expect to
be well-positioned to further broaden our investor base, access new
pools of capital and liquidity, and enhance our shareholder value.
We are proud to continue and expand our listings relationship with
Cboe, a global exchange group that shares our commitment to
technology-driven innovation and progress, and we look forward to
benefitting from Cboe's global reach and services to access even
more investors in North America
and across the globe as we prepare for the launch of Abaxx
Exchange."
In addition to developing and deploying financial technologies
that make communication, trade, and transactions easier and more
secure, Abaxx is launching Abaxx Commodity Futures Exchange and
Clearinghouse, awaiting final regulatory approvals as a Recognized
Market Operator and Approved Clearing House with the Monetary
Authority of Singapore, to support
trading and risk management with physically-settled benchmark
futures contracts in the commodity markets at the center of the
energy transition to an electrified, low-carbon emissions
economy.
Globally, Cboe lists close to 1,900 ETFs from more than 110
issuers. In Canada, Cboe lists
close to 80 corporate securities from over 55 issuers, including
Abaxx, with the vast majority of these companies representing the
purpose-driven Innovation Economy. Abaxx is poised to become Cboe's
first corporate listing in the U.S., alongside Cboe itself. For
more information or for inquiries regarding listing on Cboe Global
Markets' stock exchanges, visit www.cboe.com/listings/global/ or
contact GlobalListings@cboe.com.
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE), the world's go-to derivatives
and securities exchange network, delivers cutting-edge trading,
clearing and investment solutions to people around the world. Cboe
provides trading solutions and products in multiple asset classes,
including equities, derivatives, FX, and digital assets, across
North America, Europe and Asia
Pacific. Above all, we are committed to building a trusted,
inclusive global marketplace that enables people to pursue a
sustainable financial future. To learn more about the Exchange for
the World Stage, visit www.cboe.com.
About Cboe Canada
Cboe Canada, the new business name of the NEO Exchange, is
Canada's senior stock exchange for
the purpose-driven Innovation Economy. Fully operational since
2015, Cboe Canada lists companies and investment products seeking
an internationally recognized stock exchange network that enables
investor trust, quality liquidity, and broad awareness including
unfettered access to market data. Cboe Canada is part of the Cboe
Global Markets group, leveraging deep international expertise,
industry-leading market intelligence and technology, and
unparalleled service to deliver what stakeholders and the world
need now, and for the future. Cboe Canada is an affiliate of Cboe
MATCHNow.
Media
Contacts
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Analyst
Contact
|
U.S.
Angela
Tu
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Canada
Joanne
Kearney
|
|
Kenneth Hill,
CFA
|
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+1-646-856-8734
|
+1-416-804-5949
|
|
+1-312-786-7559
|
|
atu@cboe.com
|
joanne.kearney@smithcom.ca
|
|
khill@cboe.com
|
|
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CBOE-C
CBOE-OE
Cboe® and Cboe Global Markets® are registered trademarks of
Cboe Exchange, Inc. All other trademarks and service marks are the
property of their respective owners.
Cboe Global Markets, Inc. and its affiliates do not recommend
or make any representation as to possible benefits from any
securities, futures or investments, or third-party products or
services. Cboe Global Markets, Inc. is not affiliated with Abaxx.
Investors should undertake their own due diligence regarding their
securities, futures and investment practices. This press release
speaks only as of this date. Cboe disclaims any duty to update the
information herein. Nothing in this announcement should be
considered a solicitation to buy or an offer to sell any securities
or futures in any jurisdiction where the offer or solicitation
would be unlawful under the laws of such jurisdiction. Nothing
contained in this communication constitutes tax, legal or
investment advice. Investors must consult their tax adviser or
legal counsel for advice and information concerning their
particular situation.
Cautionary Statements Regarding Forward-Looking
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This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve a number of risks and uncertainties. You can identify
these statements by forward-looking words such as "may," "might,"
"should," "expect," "plan," "anticipate," "believe," "estimate,"
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our expectations, assumptions or projections about the future other
than statements of historical fact are forward-looking statements.
These forward-looking statements, which are subject to known and
unknown risks, uncertainties and assumptions about us, may include
projections of our future financial performance based on our growth
strategies and anticipated trends in our business. These statements
are only predictions based on our current expectations and
projections about future events. There are important factors that
could cause our actual results, level of activity, performance or
achievements to differ materially from those expressed or implied
by the forward-looking statements.
We operate in a very competitive and rapidly changing
environment. New risks and uncertainties emerge from time to time,
and it is not possible to predict all risks and uncertainties, nor
can we assess the impact of all factors on our business or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statements.
Some factors that could cause actual results to differ
include: the loss of our right to exclusively list and trade
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including our credit and default risks, associated with operating a
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for whom we clear transactions; challenges to our use of open
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obligations, including managing potential conflicts between our
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to maintain BIDS Trading as an independently managed and operated
trading venue, separate from and not integrated with our registered
national securities exchanges; damage to our reputation; the
ability of our compliance and risk management methods to
effectively monitor and manage our risks; restrictions imposed by
our debt obligations and our ability to make payments on or
refinance our debt obligations; our ability to maintain an
investment grade credit rating; impairment of our goodwill,
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pandemics; the accuracy of our estimates and expectations;
litigation risks and other liabilities; and operating a digital
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of our Cboe Digital acquisition, cybercrime, changes in digital
asset regulation, losses due to digital asset custody, and
fluctuations in digital asset prices. More detailed information
about factors that may affect our actual results to differ may be
found in our filings with the SEC, including in our Annual Report
on Form 10-K for the year ended December 31,
2022 and other filings made from time to time with the
SEC.
We do not undertake, and we expressly disclaim, any duty to
update any forward-looking statement whether as a result of new
information, future events or otherwise, except as required by law.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date
hereof.
1 Subject to regulatory approval
2 Excluding Trade Reporting Facility (TRF)
volume
3 An intralisted issuer refers to a public company or
asset manager with listings on multiple Cboe exchanges around the
world
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SOURCE Cboe Global Markets, Inc.