On April 22, 2026, TMX Group Limited announced a definitive agreement to acquire Middlebury Holdings Pty. Limited (Cboe Australia) and Cboe Canada Holdings, ULC (Cboe Canada) from Cboe Global Markets, Inc. for US$300 million (approximately C$409 million) in total consideration. The acquisition is structured as two separate transactions that are expected to close separately, each after required regulatory approvals are obtained in Australia and Canada. Cboe Canada includes the MATCHNow, NEO-L, NEO-N, and NEO-D trading platforms, along with ETF, CDR, and corporate listings, while Cboe Australia operates a securities exchange offering listings, ETFs, structured products, warrants, and a trading venue for local and global investment opportunities. For TMX, the deal consolidates its position as Canada's dominant exchange operator and provides a foothold in Australia, the world's second-largest mining resource market, aligning with TMX's mining and energy transition financing strategy. CEO John McKenzie described it as a "natural fit" allowing TMX to build into a new market, while accelerating focus on higher-growth lines including derivatives, digital assets, and prediction markets. For Cboe, the divestiture is part of a strategic realignment to reallocate capital toward core derivatives, data, and emerging market structures. The deal is expected to face close scrutiny from Canada's Competition Bureau, given concerns about reduced competition in Canadian capital markets infrastructure.