Cboe Expands Trading Reach

By
Bill McColl
Bill McColl
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Bill McColl has 25+ years of experience as a senior producer and writer for TV, radio, and digital media leading teams of anchors, reporters, and editors in creating news broadcasts, covering some of the most notable news stories of the time.

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Published June 02, 2023
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Key Takeaways

  • Cboe is expanding where its stocks and ETFs can be traded.
  • All U.S. and Canada listed stocks can be traded at other Cboe exchanges.
  • Toronto-based Abaxx Technologies is Cboe's first "intralisted" stock.

Cboe Global Markets is set to expand its reach into the trading market dominated by the New York Stock Exchange (NYSE) and the Nasdaq. 

The Chicago-based exchange operator announced all of its listed stocks in the U.S. and Canada can now be traded at the Cboe’s other exchanges in the U.K. and the Netherlands, and later on its Australia site.

It added that Toronto’s Abaxx Technologies will be the first company to be “intralisted” on both the Cboe’s U.S. and Canada exchanges. Until now, the Cboe only listed its own stocks and exchange-traded funds (ETF) on its U.S. exchange. 

Dave Howson, global president of Cboe Global Markets, said Cboe has “built an expansive, global equities footprint unrivaled in the industry,” and this move should attract “issuers seeking to tap new markets beyond their home region.”

Cboe Canada CEO Jos Schmitt explained in a Bloomberg interview that the company isn’t looking to battle the other big exchanges for large-capitalization companies, but the “white space,” where it sees “a fundamental need for our services in the future.”

Abaxx Technologies CEO Josh Crumb said that by having shares listed and tradeable across multiple Cboe stock exchanges, “we expect to be well-positioned to further broaden our investor base, access new pools of capital and liquidity, and enhance shareholder value.”

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  1. Cboe. "Cboe Launches New Global Listing Offering for Companies and ETFs of the Purpose-Driven Innovation Economy."

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