Cboe Global Markets Inc., a provider of global market infrastructure and tradable products, today announced it has completed its acquisition of Chi-X Asia Pacific Holdings Ltd., an alternative market operator and provider of market solutions. Through ownership of Chi-X Asia Pacific, Cboe gains entrance into two securities markets – Japan and Australia – in an effort to establish a presence in the Asia Pacific region for the first time. Cboe acquired Chi-X Asia Pacific from J.C. Flowers & Co. LLC.
“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.”
Vic Jokovic, chief executive officer at Chi-X Australia, said: “Through the years, Chi-X Australia has established itself as the country’s most innovative market operator, consistently delivering best-in-class trading solutions, technology and customer service. We couldn’t be more excited for the future of our exchange as we join the Cboe team and leverage its global resources to further our growth and develop new products and services that will benefit the Australian markets.”
Toru Irokawa, representative director and president at Chi-X Japan, said: “Chi-X Japan has gained tremendous success by providing superior service and trading solutions that help deliver best execution and significant cost-savings for retail and institutional investors. We look forward to the many opportunities that this acquisition will create and expect Cboe to further propel our growth, as well as enhance the competitive landscape to help bring greater efficiency and resiliency to the Japanese markets.”
Legal advisors to Cboe Global Markets on the transaction were Sidley Austin LLP (U.S. and Hong Kong), King & Wood Mallesons (Australia), Nagashima Ohno & Tsunematsu (Japan) and SyCip Salazar Hernandez & Gatmaitan (Philippines), with BofA Securities serving as financial advisor.