Cboe Global Markets to Acquire FinTech NEO

Cboe Global Markets, a cutting-edge trading and investment solutions provider, announced that it has agreed to acquire Aequitas Innovations, a fintech more commonly known as NEO, to strengthen its global equities offering.

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NEO consists of the NEO Exchange, Canada's Tier 1 stock exchange with trading, listings and other services, and NEO Connect, a multi-asset distribution platform supporting mutual funds, private funds, and private placements for corporates.

Acquiring NEO will help allow Cboe to provide a more fulsome Canadian equities offering, which is expected to drive more trading activity on Cboe markets and improve efficiencies and opportunities for investors and capital-raisers in both Canada and the U.S.

NEO has built a unique and exciting corporate listings offering for Canadian companies focused on the innovation economy. With NEO, Cboe plans to evaluate a potential expansion of its successful listings business into other geographies as it explores opportunities to power the success of these Canadian companies internationally through global capital raising opportunities.

“Adding NEO to the Cboe network better enables us to create a first-class equities offering in Canada, bolstering our global markets in North America, Europe and Asia Pacific, and bringing us one step closer to our vision of building one of the world's largest global derivatives and securities trading networks,”Ed Tilly, Chairman, President and CEO of Cboe Global Markets, said.

"We are excited to draw upon Cboe's core strengths as a leading global market infrastructure provider to further develop innovative solutions that meet the needs of investors and capital-raisers around the world,”Jos Schmitt, President and CEO of NEO added.”Our commitment to innovation, fairness and putting investors and capital-raisers first will not only continue under Cboe's ownership, but now benefit from the strength and support of Cboe's technology, market expertise and global client distribution.”