![]() It also offers a robust corporate, exchange traded product (ETP) and Canadian Depository Receipt (CDR) listings business and real-time market data services. As the second most active stock exchange in Canada, the NEO Exchange provides three market models: NEO-L, a make-take model, NEO-N, an inverted model, and NEO-D, a darkpool. NEO operates a next generation stock exchange, the NEO Exchange, focused on fairness, liquidity, transparency and efficiency that brings together investors and capital-raisers, serving as a central force driving the Canadian capital markets forward. The transaction reflects Cboe's broader growth strategy, which includes targeting acquisitions that have the potential to accelerate its geographic and asset class presence, while deepening its customer reach. It plans to support NEO's growth, and deploy NEO's innovative market models, solutions and industry expertise to serve Canadian equity markets and global investors and issuers. ![]() Our commitment to innovation, fairness and putting investors and capital-raisers first will not only continue under Cboe's ownership, but now benefit from the strength and support of Cboe's technology, market expertise and global client distribution."Ĭboe has a proven track record in integrating and growing acquisitions. Jos Schmitt, President and CEO of NEO, said: "We are excited to draw upon Cboe's core strengths as a leading global market infrastructure provider to further develop innovative solutions that meet the needs of investors and capital-raisers around the world. With NEO, Cboe plans to evaluate a potential expansion of its successful listings business into other geographies as it explores opportunities to power the success of these Canadian companies internationally through global capital raising opportunities. NEO has built a unique and exciting corporate listings offering for Canadian companies focused on the innovation economy. I look forward to working with the entire NEO team, whose innovative spirit, customer-first approach and drive for change will not only help us grow the NEO business, but also bring greater choice to market participants in Canada and across the globe." With MATCHNow and NEO, Cboe can achieve scale in Canada, creating efficiencies for our combined customers with familiar technology and consistent market models. With ownership of the MATCHNow and NEO businesses, Cboe will be able to provide a comprehensive equities platform for the Canadian markets with over 16.5% combined market share expected at close 2, market data feeds, access services, listings and distribution services for non-listed securities.Įd Tilly, Chairman, President and CEO of Cboe Global Markets, said: "Adding NEO to the Cboe network better enables us to create a first-class equities offering in Canada, bolstering our global markets in North America, Europe and Asia Pacific, and bringing us one step closer to our vision of building one of the world's largest global derivatives and securities trading networks. ![]() Its sister company, NEO Connect, provides a distribution platform supporting mutual funds, private funds and private corporates. This strengthened offering is expected to drive more trading activity on Cboe markets and improve efficiencies and opportunities for investors and capital-raisers in both Canada and the U.S.įully operational since 2015, the NEO Exchange is a Toronto-based Canadian stock exchange operator with business lines across listings, trading and market data. Ownership of NEO will help allow Cboe to provide a more fulsome Canadian equities offering, operating the NEO Exchange, a national securities exchange with trading, listings and other services, in addition to MATCHNow, the alternative trading system (ATS) acquired by Cboe in 2020. ![]()
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