Alert:

Stock Exchanges

8 Oct 2025

Key points:

Cboe to introduce direct competition to ASX (ASX:ASX) in the corporate listings market

Targeting companies with $30 million+ market capitalisation

Emphasis on cost competition, investor relations, and fast market access

Strong positive response from stakeholders and several large companies already in talks

Cboe is preparing to introduce significant competition to the Australian corporate listings market, marking the first time ASX will face a direct rival. Oran D'Arcy states that Cboe plans to leverage its successful ETF listing framework, focusing on rapid market entry for corporate issuers, enhanced investor relations, and cost-efficient processes. D'Arcy points out that the company’s bespoke marketing and educational tools will benefit both corporate issuers and investors, especially those in typically underserved segments of the Australian market.

Cboe aims its initial focus at companies with a market capitalisation of $30 million and above, rather than at the smallest growth-oriented companies. D'Arcy highlights that conversations are already underway with several companies valued in the billions, both domestically and internationally, who may consider listing with Cboe. The pathway for companies already listed on ASX (ASX:ASX) to migrate to Cboe is described as straightforward, potentially offering lower fees and improved investor outreach.

Feedback from local stockbrokers, advisers, and regulators such as ASIC is characterised as overwhelmingly positive. D'Arcy believes public capital markets can remain attractive if issuers are offered high quality investor engagement and distribution. With a recent licence granted, Cboe is poised to announce its first corporate listings shortly, focusing on raising the standard for public markets in Australia.