Singapore’s SGX mulls bid for Cboe Australia, AFR reports

Australia’s financial regulator is working closely with the parent company to find a suitable buyer

Singapore’s stock exchange is considering buying Cboe Global Markets’ Australian unit, the Australian Financial Review (AFR) reported.

Singapore Exchange held preliminary talks with Cboe and its advisers about a potential offer for the Australian unit, the AFR said, citing sources with knowledge of the plan.

A representative for Cboe Australia declined to comment, while SGX did not respond to a request for comment outside of regular business hours.

The future of Cboe Australia is uncertain after its Chicago-based parent company announced plans to sell the unit, alongside Cboe Canada.

Australia’s financial regulator, which approved Cboe Australia’s listing market application in October in an effort to increase competition, is working closely with the parent company to find a suitable buyer.

The sale also comes as Australia’s main exchange ASX faces intensified regulatory scrutiny and calls for more competition. SGX’s attempted takeover of the exchange was blocked in 2011, with the government at the time citing national interest reasons.

SEE ALSO

The AFR reported last month that New Zealand’s NZX was also working on an offer for Cboe Australia. BLOOMBERG

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