Divestiture • Financial Services

CBOE Global Markets Acquires MATCHNow

On May 19, 2020, CBOE Global Markets acquired financial services company MATCHNow from Virtu Financial

Acquisition Context
  • This is CBOE Global Markets’ 4th transaction in the Financial Services sector.
  • This is CBOE Global Markets’ 1st transaction in Canada.
  • This is CBOE Global Markets’ 1st transaction in Ontario.

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M&A Deal Summary

Date May 19, 2020
Target MATCHNow
Sector Financial Services
Buyer(s) CBOE Global Markets
Sellers(s) Virtu Financial
Deal Type Divestiture

Target Company

MATCHNow

Toronto, Ontario, Canada
TriAct Canada Marketplace LP operates MATCHNow which is an alternative trading system and a premier provider of dark liquidity in the Canadian equities market. It maintains over 90% market share in dedicated Canadian dark pool trading, and over 60% market share in all dark trading upon the inclusion of dark trades on Canada's lit venues. MATCHNow was formed in 2006 and is based in Toronto, Ontario.
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Buyer Overview 1

Buyer

CBOE Global Markets

Chicago, Illinois, United States

Category Company
Founded 1973
Sector Financial Services
Employees1,685
Revenue 4.1B USD (2024)
DESCRIPTION

CBOE Global Markets is the holding company for Chicago Board Options Exchange (CBOE), CBOE Futures Exchange (CFE), and other subsidiaries. CBOE Holdings offers equity, index and ETP options, including proprietary products, such as options and futures on the CBOE Volatility Index (VIX Index) and S&P 500 options (SPX), the most active U.S. index option. CBOE Global Markets was incorporated in 1973 and is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 8 of 14
Sector: Financial Services 4 of 7
Type: Divestiture 1 of 1
State: Ontario 1 of 2
Country: Canada 1 of 2
Year: 2020 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-04 Hanweck Associates

New York, New York, United States

Hanweck Associates LLC delivers real-time risk and margin analytics on global derivatives markets, bringing visibility and clarity to capital and balance sheet constraints of banks, broker/dealers, hedge funds, central counterparties, and exchanges.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-02 Trade Alert

New York, New York, United States

Trade Alert LLC is a software and services company focused on the synthesis and distribution of securities market intelligence to financial professionals. Trade Alert was founded in 2005 and is based in New York.

Buy -

Seller Profile 1

SELLER

Virtu Financial

New York, New York, United States

Category Company
Founded 2008
Sector Financial Services
Employees969
Revenue 2.9B USD (2024)
DESCRIPTION

Virtu Financial is an active market maker across all major financial centers including equities, fixed income, currencies, futures, energy products and other commodities. Virtu Financial was founded in 2008 and is based in New York, New York.


Deal Context for Seller #
Overall 3 of 3
Sector: Financial Services 2 of 2
Type: Divestiture 3 of 3
State: Ontario 1 of 1
Country: Canada 1 of 1
Year: 2020 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-07 Investment Technology Group

New York, New York, United States

Investment Technology Group, Inc. is an independent execution and research broker partnering with global portfolio managers and traders throughout the investment process, from investment decision through to settlement. Investment Technology Group was founded in 1983 and is based in New York.

Buy $1.0B