The Australian Securities and Investments Commission (ASIC) announced Tuesday that it has approved Cboe Australia’s application to operate as a listing market, allowing it to list new companies and directly compete with the Australian Securities Exchange (ASX) for the first time.
ASIC Approves Cboe Listing Licence, Increasing Competition With ASX
The move is seen as a way to increase competition in Australia’s public markets, expanding access to initial public offerings (IPOs), dual-listed entities and new investment opportunities for local investors.
ASIC said the decision supports its commitment to promote a more dynamic and competitive listing environment.
“Australia’s capital markets are strong and resilient, but they must continue to adapt to evolving global market dynamics and meet the future needs of our economy,” said ASIC Chair Joe Longo.
“This move will provide more choice for companies to list in Australia, build more links to offshore markets and create more options for investors, which is good news for the Australian economy.”
Cboe, formerly known as Chi-X Australia, was launched in 2011 as an alternative trading venue for ASX-listed securities and was acquired by Cboe Global Markets in 2021.
It currently handles about 20 percent of Australia’s equity market turnover, representing nearly $2 billion in trades daily.
With ASIC’s approval, Cboe joins the ASX, National Stock Exchange of Australia (NSX) and Sydney Stock Exchange (SSX) as one of four licensed markets able to list securities, a development expected to enhance innovation, efficiency and competition across the Australian capital markets.
