NEWS UPDATE
M & A
TMX Group to acquire Cboe exchanges in Australia and Canada in $ 300m deal
Transaction will expand TMX’ s equities trading, listings and market data footprint across Canada and Australia.
TMX Group has agreed to acquire
Cboe Australia and Cboe Canada in a landmark transaction valued at $ 300 million.
The deal brings together equities trading venues, listings platforms and market data businesses across Canada and Australia and is intended to strengthen TMX’ s ability to serve clients across the capital markets ecosystem. The group said the move will also expand its global presence and accelerate its growth strategy.
The acquisition is expected to reduce cost and complexity for Canadian market participants.
John McKenzie, chief executive of TMX Group, said:“ We are tremendously excited to announce the acquisition of Cboe Australia and Cboe Canada, a deal that represents a unique opportunity to strengthen our domestic marketplace for clients and the entire stakeholder ecosystem, while expanding the reach and impact of our presence in a region of the world we know well.”
Cboe Australia operates as an equities exchange offering listings across equities, ETFs, structured products and warrants, alongside
6 // TheTRADE // Q2 2026 a trading venue for brokers and investors. Meanwhile, the Canadian entity operates multiple equities trading and listings venues.
Combined, both the Australia and Canada businesses delivered revenue of approximately $ 87 million in 2025, and adjusted EBITDA of approximately $ 25 million.
Craig Donohue, chief executive of Cboe Global Markets, said:“ The teams at Cboe Australia and Cboe Canada have delivered consistent performance and built resilient, high-quality markets. These businesses are well positioned for their next chapter, and we will work closely with TMX, our local regulators, and our clients to ensure a seamless transition.”
The transaction is subject to customary closing conditions, including applicable regulatory approvals. If approved the acquisitions are expected to close separately, each following receipt of required approvals.
Until completion, the exchange operator will continue to operate both exchanges as usual and will work with customers, regulators and other stakeholders to support a smooth transition. The group will also provide transition services support for a limited period following closing.