## Cboe Australia Transitions to Unified Technology Platform, Unveiling BIDS Australia

After an extensive 18-month transformation effort, Cboe Australia finalized its shift to Cboe's core technology infrastructure on March 27, 2023. The Australian exchange, which operated under the Chi-X banner before Cboe Global Markets acquired it in mid-2021, has now aligned its systems with Cboe's global technology stack—a crucial step enabling enhanced market capacity and participant experience.

**From Integration to Innovation**

The technology consolidation represents more than a backend overhaul. By harmonizing Chi-X Australia's legacy platform with Cboe's infrastructure, the exchange gained significant performance upgrades and scalability to accommodate Australia's capital markets growth. Chris Isaacson, Chief Operating Officer of Cboe Global Markets, highlighted that the integration now allows Australian traders to tap into Cboe's comprehensive ecosystem spanning equities, derivatives, FX and digital assets.

A standout feature of the upgraded platform is the deployment of Cboe's Latency Equalization technology in the Asia-Pacific region for the first time. This capability ensures all market participants—whether institutional or retail—operate with comparable data access speeds, promoting fairer trading conditions across Australia's securities marketplace.

**Market Position and Scale**

Cboe Australia has established itself as a formidable player in the local equities landscape. The exchange commands over 20 percent market share, recorded a single-day trading volume of $5.98 billion, and captures approximately half of Australia's ETF trading activity. These metrics underscore the exchange's significance and the importance of its technical readiness.

**Cboe BIDS Australia Enters the Market**

Concurrent with the platform migration, Cboe Australia launched Cboe BIDS Australia, introducing a large-scale trading pool to the Australian equities market. The rollout follows a two-phase approach: the inaugural phase enables brokers to access the BIDS pool via algorithms and directed orders, while the subsequent phase—anticipated within coming months—will introduce broker-sponsored buy-side access through the BIDS Trader interface.

Vic Jokovic, Chief Executive Officer of Cboe Australia, emphasized that the technical foundation is now primed for expansion. "This collaboration between regulators, vendors, customers and market participants was essential to executing a seamless transition," he noted. The migration positions Cboe Australia to broaden its product suite and strengthen its competitive position in the Asian market.

The successful completion of this infrastructure shift signals Cboe's commitment to deepening its footprint in Asia-Pacific while reinforcing Australia's exchange as a modern, well-equipped trading venue.