-- CBOE Global Markets Inc. is partnering with a London-based tech firm to create a US trading platform for shares of closely held companies, a traditionally illiquid market that investors have increasingly sought to access.World's Second-Tallest Tower Tests Malaysia's Appetite for More Skyscrapers
Chicago-based CBOE — a derivatives and exchange network that operates worldwide — is responding to this demand by partnering with Globacap, a software company that will provide the platform’s technology for trading nonpublic shares. The FINRA registration marks “an important milestone for our company as we continue to expand and enhance our services in the financial industry,” a Globacap spokesperson said in a statement. “At this stage, we are not in a position to provide further details.”
Best known for inventing the options market in the 1970s, CBOE bought Bats Global Markets in 2017 to expand into trading stocks, exchange-traded funds and currencies. Upon completing the roughly $3 billion deal, the exchange began relying on Bats’ trading software, considered among the best in the industry at the time.How Local Governments Got Hooked on One Company’s Janky Software
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