NEW YORK, June 2 (Reuters) – Exchange operator Cboe Global Markets (CBOE.Z) announced on Friday that it will allow companies to list on its US and international exchanges, expanding in a highly competitive market which is dominated in the United States by the New York Stock Exchange and Nasdaq Inc (NDAQ.O).
Cboe, which has exchanges in North America, Europe and Asia-Pacific, currently only lists its own shares and exchange-traded funds on its US exchange. However, Cboe Canada-listed financial software company Abaxx Technologies Inc (ABXX.NLB) has received conditional approval for internal listing on Cboe US, the exchange operator said.
All shares listed on Cboe’s US and Canadian stock exchanges may also be made available for trading on the Company’s stock exchanges located in the Netherlands and the UK. Australia is set to follow, Chicago-based Cboe said.
“Cboe has built an expansive, global equity presence unmatched in the industry, uniquely positioning us to offer the first truly global listing experience to issuers looking to enter new markets outside of their home region,” said Dave Howson, Global President of Cboe Global Markets said in a statement.
NYSE and Nasdaq, owned by Intercontinental Exchange Inc. (ICE.N), compete fiercely to get companies public, from promoting IPOs to soliciting companies already listed on competing exchanges, both of which can be a godsend for public relations.
Exchanges generate recurring income from listings and charge varying listing fees based on factors such as the number of shares listed by a company.
Reporting by John McCrank; Edited by Hugh Lawson
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