The Cboe will try to lure companies to list on its markets in Europe, aiming to reverse a trend that has seen many companies desert the continent for the US. The group, which runs the largest pan-European share trading venue, is preparing to take on companies such as the London Stock Exchange, Euronext, Nasdaq, and Deutsche Börse.
Officials in the UK and EU are seeking to overhaul their respective capital markets and listing rules in an attempt to make the continent more competitive and attractive for investors and new companies. European companies have raised just $2.9bn from IPOs this year, compared with $3.8bn over the same period last year, according to Refinitiv data. “We came to the conclusion that from a capital formation perspective, there are gaps where a new, innovative listings exchange, thinking and operating in a different way, could truly add value,” Jos Schmitt, head of global listings for Cboe Global Markets, told the Financial Times. “Europe is one of the areas we want to focus on.”