Cboe Announces Investors in Digital Business
Posted by Colin Lambert. Last updated: August 26, 2022
Cboe Global Markets has unveiled the initial group of equity investors in its Cboe Digital business, which is being built out of the ErisX acquisition.
Cboe says its advanced discussions with potential equity partners involve a broad and diverse range of market participants, including retail and institutional intermediaries, liquidity providers and brokers. These firms include B2C2, DRW, GSR, Hidden Road, IMC, Interactive Brokers, Jane Street, Jump Crypto, Optiver, Robinhood, Tastytrade and Virtu Financial.
Cboe says through their equity ownership, each firm will directly benefit from the growth of ErisX and Cboe Digital and the close strategic and commercial alignment from day one.
The soon to be formalized group of equity partners join a roster of planned commercial partner firms supporting the ErisX business, ahead of its expected renaming to Cboe Digital, including Fidelity Digital Assets, Galaxy Digital, NYDIG and Webull among others. Together, Cboe says, subject to the execution of definitive documents, these firms have committed to ongoing engagement with the business and building of Cboe Digital markets.
As part of its operation of ErisX and the Cboe Digital business, Cboe additionally plans to form a Digital Advisory Committee comprised of a cross-section of equity and commercial partner firms. The committee will be tasked with advising Cboe on the ongoing development of the ErisX spot and derivatives markets, and more broadly, Cboe Digital and the digital asset space. Cboe says it plans to leverage the engagement and collaboration with these market participants to help accelerate growth of ErisX as a resilient, trusted and transparent digital asset venue.
“ErisX was founded with the mission of bringing transparent, well-regulated markets for digital assets and we are excited to further accelerate on this vision with growing support from our partner firms,” says Ed Tilly, chairman and CEO of Cboe Global Markets. “Building trusted markets has always been a part of Cboe’s DNA, and we look forward to leveraging the combined expertise of our partner firms to help bring Cboe’s regulatory framework, transparency, infrastructure and data solutions to further grow the digital asset market on a global scale.”
John Palmer, president of ErisX, adds, “We are gratified to have the support of such a tremendous group of industry leaders, which we believe is further validation of our vision for the Cboe Digital business. Our partner firms share our deep commitment to bringing Cboe’s trusted, transparent, regulatory-first approach to the digital asset space and we are excited to work together as a collective force to shape and define this asset class now, and for the future, to benefit all market participants.”