Cboe Global Markets,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. 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 on 2 June, 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 the 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.
Source: Cboe
I saw this. Very interesting. But easier said than done. So if I list in Euro but trade in US – is this a DR? If not, who does the FX? Who clears? If I buy in US and sell in Amsterdam, do the positions net out or do I have a long and a short…? Cool but lots o' questions https://t.co/cJ2yrXLkm8
— Larry Tabb (@ltabb) June 2, 2023
