CBOE partners with UK firm to launch U.S. private share trading platform, Bloomberg News reports
12:10 pm Thursday, September 05th, 2024
(Reuters) – U.S. exchange operator CBOE is partnering with a London-based tech firm, Globacap, to create a U.S. trading platform for shares of closely held companies, Bloomberg News reported on Wednesday.
CBOE Private Markets registered with the Financial Industry Regulatory Authority as a broker-dealer, the report said, citing a filing filed in August.
The platform is currently in its pilot stage, with no official launch date announced, the report added.
As public markets remain volatile amid economic uncertainty, private markets are becoming increasingly attractive to traders and firms.
Major asset manager BlackRock acquired UK tech firm Prequin in June to bolster its presence in private markets. While in July, global index provider MSCI launched 130 new indexes to strengthen its position in private markets.
Chicago-based CBOE offers trading platform to its customers across the globe to trade in options, futures and derivatives.
Earlier this year, the company said it would wind down operations of Cboe Digital Spot Market, its cryptocurrency spot trading platform, citing a lack of regulatory clarity in the industry.
CBOE and Globacap did not immediately respond to Reuters request for comment.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Eding by Tasim Zahid)
