The newly launched active managed fund harnesses Coolabah’s highly experienced team to actively exploit mispricings in cash and bond markets to generate daily liquidity returns that seek to exceed a target of the RBA cash rate plus 1.5% to 3.0% pa after all fees with an average A credit rating and relatively low-interest rate duration risk.

​“We’re excited to grow our ETP lineup with this new solution and provide investors with the opportunity for income and superior risk-adjusted returns in the short-duration fixed-interest sector,” said Luke Bouris, Chief Operating Officer at Coolabah Capital Investments. “The Coolabah Short

Term Income Fund (Managed Fund) (FRNS) can be a useful solution for advisers and individual investors alike to identify, and participate in, income-generating opportunities from around the world.”

​Investors can trade FRNS through their usual investment channels, including discount brokerage platforms and full-service dealers.

​“As an advocate and champion of the global ETP industry, we are proud to welcome the latest fund issued by Coolabah on to Cboe Australia,” commented Emma Quinn, President of Cboe Australia.

“Coolabah Capital Investments is a leading global active credit manager and it’s an honour to be selected as their venue of choice. We look forward to a collaborative partnership over the years ahead and providing the exceptional service and support that every issuer deserves.”​

Coolabah’s Bouris added: “We are delighted to be partnering with Cboe Australia as they grow their local presence. We’ve really appreciated their global reach and flexibility in supporting us with the launch of the Coolabah Short Term Income Fund (FRNS) and we look forward to expanding the partnership going forward.”

Cboe Australia consistently facilitates close to 40% of all volume traded in Australian quoted ETFs and approximately 20% of all volume traded in Australian-listed companies.

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Jos Schmitt

Cboe Global Markets, Inc. (Cboe: CBOE), the world’s leading securities and derivatives exchange network, announces the launch of Cboe Global Listings, the first-of-its-kind, global listing network facilitating worldwide access to capital and secondary liquidity for companies and ETFs.

Cboe^® has a 50-year proven track record as an innovator and market disruptor, including launching and operating leading equities exchanges in North America, Europe, and Asia Pacific. Today, as a first step of delivering on its global listing vision, Cboe has enabled companies to go public on its U.S. exchange, building on its successful U.S. ETF listing footprint and leveraging the corporate listing expertise from Cboe Canada (formerly the NEO Exchange). Further corporate listing expansion is planned for Cboe’s stock exchanges in the Netherlands, the UK, and Australia over 2024.^[1]

Beginning today, all Cboe-listed stocks in the U.S. and Canada can also be made available for trading in the Netherlands and the UK, with Australia to follow. Cboe’s end goal is to enable corporate and ETF listings across all its exchanges, providing issuers with best-in-class global investor exposure, global account and product management – as is already the case with Cboe’s ETF listings offering – and standardised operational support. In summary, a seamless “intralisting” experience within a single exchange group.

Uniquely focused on powering the purpose-driven Innovation Economy, Cboe Global Listings aims to serve growth companies – particularly those with novel business models operating in nascent, high-growth industries – and innovative investment products that are addressing world challenges and shaping the economies of tomorrow.

“Cboe has built an expansive, global equities footprint unrivalled in the industry that uniquely positions us to deliver the first-ever truly global listing experience for issuers seeking to tap new markets beyond their home region,” said Dave Howson, Global President of Cboe Global Markets. “The new Cboe Global Listings offering draws on our 50 years of markets expertise, deep regional experience in all the jurisdictions where we operate, and the combined strength of our global equities exchange network to provide locally optimized and centrally coordinated listing services and support. As companies and asset managers of the Innovation Economy seek to raise capital and grow their assets, our global reach and expertise are ideally suited to meet their unique needs.”

Cboe’s equities markets are among the most liquid in the world. In North America, Cboe’s U.S. and Canadian equities trading venues handle a combined $61.7 billion in average daily notional value (ADNV), capturing approximately 22 percent of the total equities trading market share^[2] in the region. In Europe, Cboe operates the largest pan-European equities exchange, accounting for €8.4 billion in ADNV and 25 percent share of the European equities market. In Australia, Cboe operates the country’s second-largest equities exchange with ADNV of more than $AUD 1.5 billion, representing approximately 19 percent of all daily trading in the Australian equities markets.

Abaxx Technologies to Become First Intralisted Company on Cboe Global Listings (NEO: ABXX)

Along with yesterday’s launch, Cboe Global Listings also prepares to welcome Abaxx Technologies, Inc. (“Abaxx”), an archetype of the purpose-driven Innovation Economy, as the first intralisted issuer [3] on its global platform. Abaxx Technologies is building Smarter Markets: markets empowered by better tools, better benchmarks, and better technology to drive market-based solutions to the biggest challenges facing society, including climate change and the energy transition.

Abaxx initially went public in December 2020 on Cboe Canada (operating as the NEO Exchange in Canada). Abaxx has received conditional approval to be intralisted on Cboe U.S., in addition to its current listing on Cboe Canada. Upon intralisting, common shares of the company’s stock will also be tradeable on the Cboe UK and Netherlands exchanges.

“Abaxx has been a valued partner of Cboe Canada over the years, and we are excited to deepen our relationship by welcoming them to the Cboe Global Listings network,” said Jos Schmitt, President and CEO of Cboe Canada and SVP, Head of Global Listings for Cboe Global Markets. “Through our extensive global exchange network, Abaxx can access key financial markets around the world to gain greater investor exposure, liquidity, and capital-raising opportunities to accelerate their growth – in addition to benefiting from Cboe’s best-in-class global service and support. Our mission is to help a regional listing transition to a global success, and we are committed to championing Abaxx’s continued growth as the first intralisted issuer with Cboe, the Exchange for the World Stage.”

“Our upcoming intralisting is a significant milestone for Abaxx as we continue to advance our mission toward Smarter Markets,” said Josh Crumb, President and CEO of Abaxx Technologies Inc. “With our shares listed and tradeable across multiple Cboe stock exchanges around the world, we expect to be well-positioned to further broaden our investor base, access new pools of capital and liquidity, and enhance our shareholder value. We are proud to continue and expand our listings relationship with Cboe, a global exchange group that shares our commitment to technology-driven innovation and progress, and we look forward to benefitting from Cboe’s global reach and services to access even more investors in North America and across the globe as we prepare for the launch of Abaxx Exchange.”

In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is launching Abaxx Commodity Futures Exchange and Clearinghouse, awaiting final regulatory approvals as a Recognised Market Operator and Approved Clearing House with the Monetary Authority of Singapore, to support trading and risk management with physically-settled benchmark futures contracts in the commodity markets at the centre of the energy transition to an electrified, low-carbon emissions economy.

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Stephanie Duncan has been appointed as Head of Marketing and Communications for APAC, in supporting Cboe’s expansion in the region.

Based in Sydney, Ms Duncan will take responsibility for integrating Cboe Global Markets’ marketing and communications function across APAC, particularly for the growing Australian market.

Ms Duncan brings over 14 years’ marketing experience across a variety of financial services sectors including asset management, banking, and retail working for leading global financial institutions in Sydney including Citi, Schroders Investment Management Australia, and State Street Global Advisors.

Also joining the Sydney-based marketing team, Risa Iwamuro has been appointed as Marketing Specialist for Australia and Japan.

With experience across Australian and Japanese markets in both digital marketing and public relations, Ms Iwamuro will help further grow the Cboe brand across APAC, with a focus on Japan. She will also offer marketing support to regional sales teams.

Sarah Gardiner will also join the Cboe BIDS team in Australia as a Client Relationship Manager, reporting to Head of Cboe BIDS APAC, Murrough O’Brien.

Launched last week, Cboe BIDS Australia is a block and large-sized trading execution service that efficiently and safely knits diverse forms of liquidity together, allowing participants to execute large-sized liquidity efficiently and anonymously.

With more than five years’ experience in equity trading and sales within investment banks, Ms Gardiner has extensive expertise in Portfolio Trading, Direct Market Access (DMA), High Touch Operating and Prime/Delta One Sales.

She has previously held roles in Delta One Sales at Credit Suisse, and in Deutsche Bank’s Sales and Trading teams.

Cboe Australia President, Emma Quinn, said: “We are pleased to welcome these three talented individuals to the Cboe Australia team at a time when our business in Australia and the Asia Pacific region is continuing to go from strength to strength.”

“Sarah is passionate about providing and championing positive outcomes for clients, and her knowledge and experience will be an asset to our team as we bring BIDS Trading to more clients in the Australian market.

“Steph’s expertise across a range of financial services sectors within global firms in Australia, and Risa’s deep knowledge of the Japanese and Asia Pacific markets will help us extend our services to a wider range of clients across the region.”

The appointment announcement follows Cboe Australia’s successful final migration to Cboe technology on 27 March 2023, marking completion of an 18-month integration effort from its legacy Chi-X platform. With the migration to the Cboe technology platform, Cboe Australia now has the performance and capacity to better meet both current and projected future capital markets trading volumes for the entire Australian equities marketplace.

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“Since Cboe acquired Chi-X, we have been focused on delivering benefits to the Australian market that only Cboe can provide,” said Chris Isaacson, Executive Vice President and Chief Operating Officer, Cboe Global Markets. “Significantly, this required migrating Chi-X’s platform to Cboe technology, enabling Australian customers to benefit from our world-class innovations and seamlessly accessing Cboe’s diverse markets, asset classes, data and product suite with greater ease and efficiency.”

With the migration to the Cboe technology platform, Cboe Australia now has the performance and capacity to better meet both current and projected future capital markets trading volumes for the entire Australian equities marketplace.

Isaacson continued: “As an innovative leader and globally trusted market operator, Cboe Global Markets has deployed technology that provides feature rich, low latency access to all participants. With the first deployment in APAC of the Cboe Latency Equalization capability, Cboe Australia participants all benefit from a high-performance technology platform that helps to ensure equitable access to all.”

“Executing the migration of Chi-X’s technology platform was a tremendous industry-wide effort and we thank our customers, vendors, regulators and other market participants for their strong engagement and support over the past year,” said Vic Jokovic, Chief Executive Officer, Cboe Australia. “This collaboration was critical in executing a smooth technical and operational migration. With this foundation now in place, we look forward to expanding the products, services and trading solutions we can provide in the Australian market.”

Along with this technology migration, Cboe has launched Cboe BIDS Australia, bringing a new and innovative large-in-scale trading offering to the Australian equities market.

The launch of Cboe BIDS Australia is planned to occur in two phases. The first phase, which has now launched in conjunction with the technology migration, involves brokers accessing the BIDS pool through their trading algorithms or via directed orders. The second phase is expected to occur in the coming months and will involve broker-sponsored buy-side access through the BIDS Trader front-end.

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Ms. Armour joins the Cboe Australia board after a decorated career as a financial services legal expert, including almost a decade as Commissioner of the Australian Securities and Investments Commission (“ASIC”).

Across her career of more than 30 years, Ms. Armour has served as General Counsel of Macquarie Capital, and J.P. Morgan Australia, and was an Executive Director of Macquarie Group.

While an ASIC Commissioner, she worked closely with the ASIC teams responsible for regulating market infrastructure, market surveillance, supervision of market intermediaries and the enforcement of laws relating to market integrity.

Cboe Australia Chairman, Ade Cordell said: “We are delighted to welcome Cathie to the Cboe Australia board. Cathie’s combined experience as a senior markets regulator, and general counsel to large financial services organisations is unsurpassed.”

“As Cboe Australia continues to pursue its strategy of improving and growing the securities and derivatives markets in Australia and the Asia Pacific, Cathie’s experience will prove invaluable.”

Cathie Armour said: “Cboe Australia is a lead innovator in Australian markets, and I’m excited to contribute to the business’ ongoing growth and success.”

Ms. Armour holds a Bachelor of Economics and a Bachelor of Laws (Hons) from the Australian National University, and a Master of Laws from Sydney University. She is also a Graduate of the Australian Institute of Company Directors (“GAICD”) and is a member of Chief Executive Women.

Ms. Armour’s appointment follows the retirement of David Trude from the Cboe Australia board, effective 31 March 2023.

Mr. Trude commenced as an Independent Director of Chi-X Australia prior to its market launch in 2011, and has Chaired the Cboe Compliance and Audit Committees. Mr. Trude has played an instrumental role in Chi-X and Cboe Australia’s growth and success to date.

Over a career of more than 40 years within the banking and securities industries, Mr. Trude served in several high-profile roles, including more than a decade as Managing Director of Credit Suisse in Australia, and nine years as Chairman of Baillieu Holst Limited.

Mr. Trude currently serves as Chairman of Waterford Retirement Village, Hansen Technologies, and East West Line Parks Pty Ltd, and is a Non-Executive Director of ASX-listed Acorn Capital Investment Fund Limited, and MSL Solutions.

Cboe Australia Chief Executive Vic Jokovic said: “On behalf of Cboe Australia and Cboe Global Markets, I thank David for his service to the business as Non-Executive Director and Chair of the Cboe Australia Compliance and Audit Committees for more than a decade. He has been integral to the success of Chi-X and now Cboe Australia, and we wish him every success in his future.”

David Trude said: “It has been an honour to have been part of the Cboe Australia journey. I have worked with some of the most exceptional and well-respected individuals within our industry, in particular the late Peter Fowler, who as the then Chi-X Australia’s first CEO, was a pioneer in successfully launching genuine competition between Australia’s market operators.”

Mr. Trude continued: “His legacy is strong within the company as it solidifies its position as one of the world’s most innovative exchanges by maintaining its focus on best-in-class technology, product innovation and client service.”

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Vic Jokovic

Cboe Australia (“Cboe Australia”) has announced the planned retirement of Cboe Australia CEO Vic Jokovic, effective March 31, 2023. Industry veteran Emma Quinn has been appointed as his successor and will assume the position of President, Cboe Australia, as of March 27, 2023. Mr. Jokovic will remain in an advisory role to help ensure a seamless leadership transition and will also continue in his current board roles with Cboe Australia and other members of the Cboe group.

Mr. Jokovic’s distinguished career spans more than 30 years in the Australian equities, derivatives and debt markets. Since joining Cboe Australia (formerly Chi-X Australia) in 2018, he has led the company to achieve a series of key milestones, including overseeing its successful acquisition by Cboe Global Markets (“Cboe”) in 2021 and the integration of its technology platforms and corporate functions post-acquisition.

“On behalf of Cboe, I would like to thank Vic for his steadfast leadership over the past five years,” said David Howson, President of Cboe Global Markets. “During his tenure, Vic helped Cboe Australia solidify its position as one of the world’s most innovative market operators by maintaining its focus on best-in-class technology, product innovation and client service, while guiding the company onward to its next phase of growth. Emma is a proven leader with significant experience in global capital markets, and I am confident she will continue to build on the foundation laid by Vic and take Cboe Australia to even greater heights.”

Vic Jokovic said: “It has been a privilege to serve as CEO during Cboe Australia’s period of transformation and I would like to thank our exceptionally talented team, whose hard work and dedication helped to build our business into one of the largest exchanges in Asia Pacific. When our planned major technology integration is completed, Cboe Australia will be positioned to realize the benefits of Cboe’s global network and resources, and I couldn’t be more excited for the future of this company as Emma takes the helm.”

Emma Quinn said: “It is an honor to be appointed Cboe Australia’s President at such a pivotal time in the company’s growth journey. Cboe Australia has firmly established itself as an integral piece of the country’s financial ecosystem, bringing innovation and market competition to benefit Australian markets and investors. I look forward to building on Vic’s legacy and working closely with the Cboe Australia team to continue executing on the many exciting growth initiatives ahead of us.”

Ms. Quinn joins Cboe Australia from AllianceBernstein, where she was Global Co-Head of Equity Trading. Previously, she served as head of Asia-Pacific Trading, head of Asia-Pacific Fixed Income and Australia Equities Trading, and head of Trading for Australia and New Zealand for the firm. Prior to joining AllianceBernstein in 2001, she worked as an equity trader at AMP Henderson Global Investors. Ms. Quinn holds a BBus in finance and business law from the University of Technology, Sydney.

In addition to announcing Ms. Quinn’s appointment, Cboe confirmed that Ade Cordell, previously President of Cboe Netherlands, has relocated to Singapore, assuming the role of President, Asia Pacific. Mr. Cordell is overseeing the business operations of Cboe Australia and Cboe Japan and leading Cboe’s planned further expansion into the region. Alex Dalley, Co-Head of Sales, European Equities, will replace Mr. Cordell as Head of Cboe Netherlands. Ms. Quinn will report into Mr. Cordell.

Cboe Australia is the country’s second largest securities exchange by volume traded, offering trading in Australian-listed securities, in addition to the exclusive trading of Cboe Australia quoted warrants and ETFs. The exchange accounts for more than 20 percent of total equity trading volume and 50 percent of ETF trading volume, as well as 35 percent of the Australian Warrant market.

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A senior financial services and trading executive, Mr Giarratano brings almost 20 years of algorithmic and electronic trading experience to Cboe Australia, including at blue chip global brands such as BNP Paribas, Deutsche Bank and Macquarie Group.

Mr Giarratano joins Cboe Australia from BNP Paribas, where he served as Executive Director, Head of Electronic Equities Client Coverage APAC. In this role, Mr Giarratano was responsible for leading Deutsche Bank’s APAC electronic equities coverage team and clients through the transition of their global prime finance and execution business to BNP Paribas where he successfully continued to drive that business amongst their largest and most sophisticated trading partners.

Mr Giarratano will assume the responsibilities of former Cboe Australia Director, Head of Institutional Sales Murrough O’Brien, who has been promoted to APAC Head of Sales, BIDS Trading. In his new role, Mr O’Brien will oversee the launch of Cboe BIDS Australia^[1], which will provide Australia’s equity market with access to diverse and efficient forms of liquidity.

Cboe Australia Chief Executive Officer, Vic Jokovic, said: “We’re excited to bring James on board. He brings a wealth of global electronic trading experience to Cboe Australia and will play a crucial role in ensuring our institutional clients can realise the benefits of our tech migration, which will bring new capabilities to the Australian market for the first time.

“Concurrently, we’re pleased to announce that Murrough O’Brien has taken on a new role as APAC Head of Sales, BIDS Trading. Murrough will assume responsibility for the launch of Cboe BIDS Australia, which will introduce Australian market participants to a new generation of block trading.”

Mr Giarratano said: “I have always been passionate about working with people, technology and markets. Joining the Cboe Australia team and the broader Cboe group, given their new global and multi-asset footprint, is an exceptional opportunity to bring innovation to the Australian trading community. It’s an exciting time for the market and I look forward to helping our institutional clients benefit from Cboe’s investment in technology and innovation.”

He holds a B.A. in Economics (Cum Laude) from the University of Massachusetts.

———-

[1] subject to final regulatory approvals

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Mr Phillips is an experienced financial markets and exchange executive, with more than 20 years’ experience across equities, derivatives, energy and clearing, and a deep technical understanding of the capital markets ecosystem. He has been working with Cboe Australia in a consulting capacity since May 2022.

In his new role, Mr Phillips will be instrumental in the Cboe Australia tech migration, and the launch of Cboe BIDS Australia, overseeing client engagement, and stakeholder and project management across both projects.

Most recently, Mr Phillips oversaw the secondary markets business of New Zealand exchange NZX Limited, as Executive Director of Markets Development and Clearing. His role saw him assume responsibility for cash and derivative markets trading, exchange and energy market clearing operations, and clearing house risk management.

Cboe Australia Chief Executive Officer, Vic Jokovic, said: “Ben will be instrumental in our efforts to introduce an enhanced, new generation of block trading to Australian market participants through the launch of Cboe BIDS Australia and the Cboe tech migration.”

Mr Phillips said: “I’m incredibly excited to contribute to Cboe Australia’s commitment to further enhancing the trading experience of Australian investors.”

Prior to his position at NZX Limited, Phillips held several leadership roles in Australia with Citi, E*Trade, ANZ, and Westpac Broking, covering operations, product, strategy, sales, and relationship management.

He holds a Bachelor of Business from Charles Sturt University, a Diploma of Securities and Derivatives from FINSIA and is accredited under RG146 & ADA Level 1 Derivatives.

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Vic Jokovic

Cboe Australia is pleased to announce the introduction of Cboe Funds to leading investment platform, North.

Cboe Australia is committed to providing investors with greater access to Australia’s most innovative investment products which include a range of Cboe funds.

Cboe Australia CEO Vic Jokovic said: “North is a leading wrap platform and we are pleased to be a global exchange offering unique Cboe funds locally to their customers”.

“Partnership with reputable firms like North is part of our plan to transform the Australian investment market by facilitating broader access to the market leading funds available on Cboe Australia.”

“Our Cboe Funds market continues to grow, and this year we’ve led the industry by providing Australians with the first regulated ETFs in some of the world’s largest digital assets with leading fund managers like ETF Securities, Cosmos/Purpose Asset Management and 3iQ Asset Management.

“There are now six products on Cboe Australia providing investors with direct access to crypto asset investment on Cboe Funds, in addition to our broad suite of funds across Australian and international equities and fixed income asset classes. In total, Investors have now allocated more than $3.1 billion in assets under management to Cboe Funds.”

AMP’s Director of Platforms Edwina Maloney said: “The introduction of Cboe Funds is the latest step in strengthening North’s investment menu, providing advisers and clients access to a growing range high-quality investment options, which has contributed to MyNorth’s recent 5 Apple Chant West platform rating.

“Over the last 12 months North has added 190 investment options, 46 managed portfolios, and 72 partnered managed portfolios to its investment menu.”

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Dan Annan

Cboe Australia is pleased to introduce the Cosmos Purpose Ethereum Access ETF (“CPET”), to Australian investors.

CPET invests in the Purpose Ether ETF which holds physically settled Ether tokens rather than derivatives. The fund is backed by world-class cryptocurrency custodian Gemini, which uses a global compliance platform to secure the fund’s Ether assets.

Since its launch on the Toronto Stock Exchange in April 2021, the fund has accumulated more than AUD$570 million in assets under management.

Cboe Australia CEO Vic Jokovic welcomed CPET to the exchange.

“We’re pleased to expand our partnership with Cosmos Asset Management and launch CPET to Australian investors on Cboe Australia.

“As investors continue to seek cryptocurrency exposure, it’s important the market provides them with choice and access. CPET offers Australians with unique access to the world’s first physically settled Ether ETF, and we’re excited o watch its progress.”

Cosmos Asset Management CEO Dan Annan said CPET offered Australians a best-in-class experience.

“CPET makes it easy for Australians to introduce Ethereum to their portfolio by eliminating the need for Ethereum wallets and cold storage, which are often the limiting factor for those interested in investing in cryptocurrencies.

“Now, adding Ethereum exposure is as familiar and easy for Australian investors as trading shares.”

CPET will commence trading on Cboe Australia on 31 May 2022 and will be available through Cboe Australia market participants and supporting Australian stockbrokers.

On 12 May, Cboe Australia and Cosmos Asset Management expanded Australian access to bitcoin through the launch of the Cosmos Purpose Bitcoin Access ETF (“CBTC”).

In 2021, Cboe Australia and Cosmos Asset Management introduced the Cosmos Global Digital Miners Access ETF (“DIGA”), giving Australians the ability to invest in the companies building the growing cryptocurrency sector.

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