Cboe Global Markets has initiated a strategic sale process for both its Australian and Canadian equities businesses, signalling a shift away from those markets to focus exclusively on its core strengths in derivatives, data and U.S. and European equities.

The move was disclosed in its Q3 2025 earnings call, where new CEO Craig Donohue explained that, while the units continue to perform well, they fall outside the future strategic roadmap.

Donohue outlined that the company intends to exit its Australian and Canadian business lines, cease efforts to attract new U.S. and European corporate listings, and scale back its ETP listings business and several smaller market analytics operations.

He emphasised that the firm sees “tremendous opportunities” in index options, multi-list futures, foreign exchange and its Data Vantage platform, which align more closely with secular growth trends.

The Australian and Canadian markets will be divested, but the timing and structure of the sales are still subject to market conditions and regulatory approval.

Cboe expects this realignment to sharpen its focus on markets with greater liquidity, customer base and scalability, enabling it to redirect capital into faster-growing segments such as event-prediction markets, digital asset derivatives and expanded clearing capabilities.

Financially, Cboe delivered record net revenue of US$605.5 million in the third quarter—a 14 per cent rise year-on-year—and adjusted earnings per share hit an all-time high.

CEO Donohue said the strategic revision will not materially affect 2025 organic revenue growth guidance or adjusted operating expenses.

The decision comes amid a broader recalibration of Cboe’s global footprint.

Earlier in the year it exited its Japanese equities business, and now the Australian and Canadian exits further concentrate resources on its U.S. and European derivatives platforms.

Investors will now watch closely how Cboe redeploys capital and talent toward high-growth products and markets.