TMX Group, operator of the Toronto Stock Exchange, agreed on 22 April to acquire Cboe Australia and Cboe Canada from Cboe Global Markets for US$300m in total consideration.
Why TMX Group Limited is buying Cboe Australia and Cboe Canada
TMX said owning Cboe Australia would bring together the world's leading mining and energy-transition financing ecosystems and expand its global presence, while folding in Cboe Canada would improve access to capital and reduce costs for Canadian market participants.
“The teams at Cboe Australia and Cboe Canada have delivered consistent performance and built resilient, high-quality markets.”
Deal terms and financing
TMX is paying US$300m (C$409m) for both businesses, which together generated revenue of about C$87m and adjusted EBITDA of about C$25m in 2025. It expects the deal to be accretive to adjusted earnings per share within the first 12 months of closing, excluding synergies.
Regulatory approvals and timing
Each purchase required regulatory approvals in its country and was set to close separately. The Trade News reported on 3 August 2026 that TMX had completed the acquisition of Cboe Australia, which is being renamed TMX Australia Exchange, with the Cboe Canada sale to close at a later date.
Market context
Cboe Australia operates equities trading and listing venues, including ETFs, structured products and warrants, and was recently granted a licence for corporate listings. Cboe said the sale was part of refocusing on its core strengths.
