M&A Deal Summary

CBOE Global Markets Acquires Chi-X Asia Pacific

On March 24, 2021, CBOE Global Markets acquired financial services company Chi-X Asia Pacific from J.C. Flowers & Co.

Acquisition Highlights
  • This is CBOE Global Markets’ 6th transaction in the Financial Services sector.
  • This is CBOE Global Markets’ 1st transaction in China.

M&A Deal Summary

Date 2021-03-24
Target Chi-X Asia Pacific
Sector Financial Services
Buyer(s) CBOE Global Markets
Sellers(s) J.C. Flowers & Co.
Deal Type Add-on Acquisition

Target

Chi-X Asia Pacific

Hong Kong, China
Chi-X Asia-Pacific is focused on operating trading venues and generating innovative products and services for the benefit of financial markets and the global trading community. Chi-X Asia-Pacific operates market centers in Australia and Japan. Its Chi-Tech technology services unit provides technology to its business.

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Buyer(S) 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 STATS #
Overall 11 of 14
Sector: Financial Services M&A 6 of 7
Type: Add-on Acquisition M&A Deals 10 of 12
Country: China M&A 1 of 1
Year: 2021 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-16 BIDS Trading

New York, New York, United States

BIDS Trading, L.P. is a registered broker-dealer and the operator of the BIDS Alternative Trading System (ATS), which was designed to bring counterparties together to anonymously trade large blocks of shares. Developed by a consortium of leading financial services firms, the BIDS ATS resolves the classic paradox of the block trader – the need to find legitimate trading counterparties without prematurely revealing trading intentions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-20 ErisX

Chicago, Illinois, United States

ErisX offers individuals and institutions a single, innovative platform to access crypto spot and futures markets. By combining professional tools, advanced technology, sophisticated regulatory oversight, and a diverse product set, the company offers compliant, capital markets friendly workflows to digital market participants. ErisX, Eris Exchange, and the ErisX and Eris Exchange logos are trademarks of the Eris Exchange group of companies. ErisX was formed in 2018 and is based in Chicago, Illinois.

Buy -

Seller(S) 1

SELLER

J.C. Flowers & Co.

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 4.0B USD
Size Large
Type Sector Focused
DESCRIPTION

JC Flowers is a specialist private equity firm that targets investments in the financial services sector. JC Flowers looks for distressed opportunities in North America, Western Europe, and Asia. JC Flowers was formed in 1998 and is based in New York City with an additional office in London.


DEAL STATS #
Overall 15 of 22
Sector: Financial Services M&A 10 of 12
Type: Add-on Acquisition M&A Deals 4 of 7
Country: China M&A 1 of 1
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-02 iLendingDIRECT

Englewood, Colorado, United States

iLendingDIRECT is an auto refinance marketing company that offers consumers lower interest rates on auto loans and other creative financing solutions. iLending saves consumers thousands of dollars in interest and payments and provides its lending partners with high-quality loans that meet their footprint and credit criteria. iLendingDIRECT was founded in 2006 and is based in Englewood, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-01 LMAX Group

London, United Kingdom

LMAX Group is a global financial technology company and independent operator of multiple institutional execution venues for FX and cryptocurrency trading. With offices in 9 countries and a global client base, the Group builds and runs its own high-performance, ultra-low latency exchange infrastructure, which includes matching engines in London, New York, and Tokyo. LMAX Group was founded in 2010 and is based in London, England.

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