Global derivatives and securities exchange Cboe Global Markets, is to wind down its Japanese equities business, including the operations of its Cboe Japan proprietary trading system and Cboe BIDS Japan block trading platform.

Cboe expects to suspend operations for these businesses on 29 August, 2025 and formally close the businesses subject to consultation with regulators.

According to a press statement, the decision to close the business "reflects Cboe’s disciplined strategy to steward resources towards opportunities that deliver the best potential returns for shareholders and was taken in the context of evolving business conditions, which challenged the financial sustainability of maintaining operations of Cboe’s equities business in the country".

The company anticipates that the wind down of the Cboe Japan equities operations will have an immaterial impact on its organic total net revenue growth and adjusted operating expense guidance in 2025. The company estimates that adjusted expense savings will be in the range of $2m to $4m in 2025, with savings expected to be in the $10m to $12m range on a normalised annual basis.