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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Graham Tuckwell,

Cboe Australia (“Cboe Australia”) is pleased to introduce the ETFS 21Shares Bitcoin ETF (“EBTC”) and the ETFS 21Shares Ethereum ETF (“EETH”), the first exchange traded funds to offer Australian investors with direct, regulated exposure to the world’s largest digital tokens by market capitalisation, Bitcoin and Ethereum.

Leading provider of specialist ETF solutions ETF Securities selected Cboe Australia to launch Australia’s first cryptocurrency-backed ETFs to investors, providing local investors with simple access to the growing appeal of cryptocurrency.

EBTC and EETH, developed in conjunction with the world’s largest crypto-currency ETP product issuer, 21Shares, will offer investors a more familiar investing experience when investing in Bitcoin and Ethereum, reducing the uncertainty associated with investing in cryptocurrencies.

Cboe Australia CEO, Vic Jokovic, said: “We’re pleased to partner with ETF Securities to bring the first Crypto ETFs to market in Australia on the exchange. EBTC and EETH are breakthrough products that will pave the way for more Australians to expose their portfolios to cryptocurrency in a regulated manner.

“We are committed to providing Australians with access to best-in-class technology and innovative investment solutions, and ETF Securities’ decision to quote EBTC and EETH on Cboe Australia is a testament to that commitment.

“As a part of Cboe Global Markets, Cboe Australia will continue to leverage our parent’s global expertise and technological capabilities to enhance the Australian market.”

ETF Securities Chairman, Graham Tuckwell, said: “Today is an exciting day for our team, a culmination of months of hard work to bring these ETFs to the Australian market. EBTC and EETH are true firsts for Australia, and we are excited to be launching with Cboe Australia.

“The market capitalisation and trading volumes for these two leading cryptocurrencies are now larger than any company listed on the Australian stock exchanges, yet investors have not been able to gain access to them in a regulated manner.

“By offering this access through an ETF, investors can now gain portfolio exposure to these crypto-currencies in an institutional-type way.”

EBTC and EETH commence trading on Cboe Australia on 12 May 2022 and will be available through Cboe market participants and supporting Australian stockbrokers.

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Vic Jokovic

Coolabah Capital Investments (Retail) Pty (CCI) has selected Equity Trustees to act as responsible entity for its latest quoted fund offering.

The Coolabah Active Composite Bond Fund (Hedge Fund) is a dual registry (listed and unlisted) fund and will be available on Chi-X Australia – the first time CCI has launched a fund on Australia’s second largest securities exchange.

CCI is one of Australia’s leading active credit managers, responsible for managing over $6.5 billion. Its new quoted fund offers an active composite bond strategy, investing in a diversified portfolio of defensive assets of investment-grade quality, including cash, government bonds, senior and subordinated bonds and asset-backed securities. The Fund may also invest in over-the-counter derivatives for risk management purposes.

Russell Beasley, Executive General Manager, Corporate Trustee Services, said: “We are delighted to be working with Coolabah Capital Investments, our client since 2018, on its latest quoted fund launch in the Australian market.

“Quoted funds are great way for fund managers to tap into the booming retail investor market and for investors to access investment opportunities through their preferred platform, without all the cumbersome paperwork that is usually required.”

As specialists in fund governance and compliance, Equity Trustees has assisted with the launch of quoted funds in the Australian market since November 2020.

“We provide our expertise as responsible entity to assist managers to navigate ASIC and the exchange compliance processes, as well as the design features of the innovative dual registry structure delivered by Mainstream Fund Services,” Mr Beasley said.

Ying Yi Ann Cheng, Portfolio Management Director and Market Technicals Analyst, Coolabah Capital said: “We are delighted to introduce our market-leading, daily liquidity, long duration, Coolabah Active Composite Bond Fund (Hedge Fund) as a quotable product to the retail market. This was previously an institutional strategy for super funds that was not available to the public.

“Since the Coolabah Active Composite Bond Fund’s (Hedge Fund) inception in March 2017, it has returned 5.35% per annum after retail fees. That’s 1.37% above the Composite Bond Index’s 3.98% per annum return. It ranks in the top 2 strategies in Mercer’s Australian fixed-income (active) universe over the last 3 years to 30 April 2021.”

Chi-X Australia is the securities and derivatives exchange which is transforming the Australian investment market by delivering easy, cost-effective access to local and global investment opportunities.

Chi-X Chief Executive Vic Jokovic said quoted funds had become a strong trend in retail distribution.

“We are pleased to be adding the Coolabah Active Composite Bond Fund (Hedge Fund) and believe it will help to broaden the range of options for investors seeking a more defensive allocation for their portfolio,” he said.

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Vic Jokovic

Chi-X Australia (“Chi-X”) is pleased to welcome the newly launched Magellan FuturePay (Managed Fund) (“FuturePay”, Chi-X symbol ‘FPAY’), issued by Magellan Asset Management (“Magellan”), to its growing suite of Chi-X Funds.

FuturePay commences trading at 12pm on the 2nd of June and aims to deliver investors with a predictable monthly income that grows with inflation, is driven by returns and capital growth, and has a focus on downside protection.

Magellan’s Chief Executive Officer, Brett Cairns, said “We are pleased to again be partnering with Chi-X to bring our latest fund innovation, FuturePay, to the Australian market.”

“We believe FuturePay will help investors and their advisors to meet the challenges of establishing a regular income from their accumulated savings, a problem particularly relevant to those in retirement.”

FuturePay invests in a portfolio of high-quality, low volatility companies listed on securities exchanges around the world which Magellan believes can deliver attractive, risk-adjusted returns over the medium to long term. Importantly, FuturePay also incorporates a unique reserving strategy which underpins its objective of providing investors with a predictable monthly income that grows with inflation.

Magellan Financial Group’s Head of Retirement Solutions and Data Science, and FuturePay Portfolio Manager, Paddy McCrudden, said FuturePay offered a viable alternative for Australians reaching retirement age.

“We think that FuturePay really addresses an unmet need in the Australian retirement landscape. The combination of a portfolio of high quality, low volatility global companies and a reserving strategy with on-going income support means that FuturePay has the potential to significantly improve outcomes for investors in retirement.”

Chief Executive Officer of Chi-X Australia, Vic Jokovic, said FuturePay was an example of rigorous and disciplined product innovation.

“We are excited to be the exchange provider of choice for Magellan’s FuturePay, which is set to be a real game changer for investors, most notably for Australia’s rapidly expanding post-retirement cohort,” Mr Jokovic said.

As more Australians seek access to global opportunities, Mr Jokovic said the recent strong demand for ETFs showed no signs of abating.

“Active ETFs have proven to play an important role for investors and Chi-X Funds continue to experience significant growth. FuturePay will be the ninth fund to launch on Chi-X in under six months. This adds to a growing list of Active ETFs on our platform that aim to deliver greater diversity to the portfolios of Australian investors.”

Chi-X Funds began trading on exchange in October 2019, enabling issuers to provide investors with access to managed funds, together with the convenience of daily quotation and trading. The MFG Core Series and the Magellan Sustainable Fund commenced quotation on Chi-X Australia in December 2020.

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Mr D’Arcy joins Chi-X with over 15 years’ experience across Europe and Australia. Most recently Mr D’Arcy was National Business Development Manager – Investment Products for Australian Securities Exchange (ASX), where he focused on the sales and distribution of ASX’s investment products suite and optimisation strategies. During his seven year tenure at ASX, Mr D’Arcy was previously a Technical Account Manager, where he led the technical relationship management of exchange customers across trading, market data and technology sectors.

Prior to this, Mr D’Arcy worked at Citibank, Merrill Lynch and Macquarie Funds Group, where he held key senior positions within investment services, securities lending and fixed income trading functions.

Commenting on the appointment, Chi-X Australia CEO Vic Jokovic said: “We are pleased to welcome Oran to the Chi-X team. His deep knowledge of the investment landscape and client solutions strategy makes him a valuable addition to our growing investment products team.”

Based in Sydney, Mr D’Arcy will be responsible for further enhancing the opportunities for Australian investors through Chi-X’s innovative range of investment products including Transferable Custody Receipts (TraCRs), Warrants and its rapidly expanding suite of Chi-X Funds.

Chi-X Australia plays a key role in the development and growth of Australian capital and investment markets through product innovation, which is delivering cost savings and deeper liquidity to investors.

The exchange recently admitted Jarden as its 50th trading participant and in March this year it was announced that Cboe Global Markets had entered into an agreement with J.C. Flowers to acquire the Chi-X group, including Chi-X Australia. The Cboe acquisition is expected to close in the coming months.

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