The Australian Securities and Investment Committee (ASIC) announced on Tuesday that it had approved the request of CBOE Australia to work as an existing market, allowing it to include new companies and compete directly with Excination Securities Austraw (ASX) for the first time.
This step is seen as a way to increase competition in public markets in Australia, expand access to primary public offers (IPOS), entities listed in the dual menu, and new investment opportunities for local investors.
Asek said the decision supports his commitment to strengthening the most dynamic and competitive insertion environment.
“Capital markets in Australia are strong and flexible, but it must continue to adapt to the advanced global market dynamics and meet the future needs of our economy,” said ASIC Joe Longo President.
“This step will provide more options for companies to include them in Australia, build more links to foreign markets and create more options for investors, which are good news for the Australian economy.”
CBOE, previously known as Chi-X Australia, was launched in 2011 as an alternative to ASX securities trading and obtained by CBOE Global Markets in 2021.
It currently treats about 20 percent of stock sales in Australia, which represents nearly two billion dollars in trading per day.
With ASIC, CBOE joins ASX, the National Stock Exchange of Australia (NSX) and Sydney Stock Exchange (SSX) as one of four licensed markets capable of including securities, which is expected to boost innovation, efficiency and competition across the Australian capital markets.