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Cboe Global Markets to Acquire Canada-Based ATS MATCHNow to Expand in Equities Markets.

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MANews-(C)2009-2020

Chicago, US-based exchange holding company Cboe Global Markets, Inc. (Cboe: CBOE) has agreed to acquire Canadian alternative trading system MATCHNow from Virtu Financial, Inc. to expand opportunities in global equities markets, the company said.

The transaction, which Cboe plans to fund with cash on hand, is expected to close in the third quarter of 2020. Terms of the deal were not disclosed. The acquisition is expected to be immediately accretive to earnings, contributing approximately USD 0.01 to earnings per share in 2020.

Upon completion of this acquisition, Cboe will gain a foothold in a key capital market new to the company, while expanding the geographic presence and diversifying the product capabilities of its North American equities business.

Ownership of MATCHNow is expected to provide Cboe with a strategic pathway to build toward a comprehensive equities platform for the Canadian markets and potentially establish a significant presence in the region.

MATCHNow is Canada's largest broker-neutral dark pool, accounting for nearly 65% market share in total Canadian dark trading, or approximately 7% in total Canadian equities volume.

Canada is one of the world's leading equities markets2...

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