Cboe to Shut Down Japan Equities Business
Chicago-based exchange operator Cboe will close its Japan equities operations to focus on opportunities with higher potential returns.
Cboe Global Markets will wind down its Japanese equities business, which includes the operations of its Japan proprietary trading system and Japan block trading platform, according to a statement. It expects to suspend operations for these businesses on August 29 and formally close, subject to consultation with regulators.
The US exchange operator anticipates the move to have an «immaterial impact» financially with an estimated adjusted savings of $2-4 million in 2025 or $10-12 million on a normalized annual basis. A presence will be maintained in Japan for its derivatives and data businesses.
«While we have made the strategic decision to exit the Japanese equities business, we remain committed to serving Japan and its financial community by leveraging the strengths of our global derivatives and data capabilities,» said Craig Donohue, CEO at Cboe Global Markets. «We thank our partners, customers and stakeholders in Japan for their engagement and look forward to delivering value in new ways.»
