Cboe Plans to Cease Japanese Equities Operations, to Maintain Presence in Country for Derivatives and Data Businesses.

Cboe Global Markets plans to cease its Japanese equities operations, including the Cboe Japan proprietary trading system and Cboe BIDS Japan block trading platform, by August 29, 2025. The decision was made due to evolving business conditions that challenged the financial sustainability of maintaining operations. Cboe will maintain its presence in Japan for its Global Derivatives and Cboe Data Vantage businesses. The wind down is expected to have an immaterial impact on Cboe's organic total net revenue growth and adjusted operating expense guidance in 2025.

Cboe Global Markets, Inc. (Cboe: CBOE) has announced its decision to wind down its Japanese equities business, including the operations of its Cboe Japan proprietary trading system and Cboe BIDS Japan block trading platform. The operations are set to be suspended on August 29, 2025, and will formally close subject to consultation with regulators [1].

The decision reflects Cboe's strategy to allocate resources towards opportunities that offer the best potential returns for shareholders. The evolving business conditions in Japan have made it financially unsustainable to maintain the equities business in the country. Despite this, Cboe will maintain its presence in Japan for its Global Derivatives and Cboe Data Vantage businesses, leveraging their strengths to serve the Japanese financial community [1].

Craig Donohue, CEO of Cboe Global Markets, stated, "While we have made the strategic decision to exit the Japanese equities business, we remain committed to serving Japan and its financial community by leveraging the strengths of our global derivatives and data capabilities. As Japanese market participants continue to seek greater access to international markets, Cboe is well-positioned to meet that demand with our high-quality market data and suite of tradable derivatives products. We thank our partners, customers, and stakeholders in Japan for their engagement and look forward to delivering value in new ways."

The wind down of Cboe Japan equities operations is expected to have an immaterial impact on Cboe's organic total net revenue growth and adjusted operating expense guidance in 2025. The company estimates that adjusted expense savings will be in the range of $2 million to $4 million in 2025, with savings expected to be in the $10 million to $12 million range on a normalized annual basis [1].

Cboe will provide more details during its forthcoming second-quarter 2025 earnings call on August 1, 2025. A conference call with remarks by the company's senior management will begin at 7:30 a.m. CT (8:30 a.m. ET). A live audio webcast for the conference call and the presentation that will be referenced during the call will be available on the Investor Relations section of Cboe's website at ir.cboe.com under Events [1].

References:
[1] https://ir.cboe.com/news/news-details/2025/Cboe-Plans-to-Cease-Japanese-Equities-Operations/default.aspx