What is the Cboe Australia (formerly Chi-X)?

The Cboe is an exchange in Australia that acts as an alternative trading venue to the Australian Securities Exchange (ASX). Learn how to trade on the Cboe here.

What is the Chi-X Australia (Cboe)?

The Chi-X is the former name for the Cboe, a stock exchange based in Sydney Australia. It offers an alternative venue to buy and sell Australian stocks, with a few notable differences to the better-known ASX.

The Cboe is a day-only trading venue, which means orders cannot be left open overnight. This can make trading faster as there is less of a backlog of orders
Some ETFs on the Cboe aren’t available on the ASX
There are no opening and closing auctions on the Cboe

The Chi-X was founded in 2011, and changed its name to the Cboe in 2021 when it was bought by Cboe Global Markets, the company behind the Chicago Board Options Exchange.

The Cboe vs the ASX

The Cboe offers access to exactly the same stocks as the ASX – it just offers a different place to buy and sell them. If your broker allowed it, you could even buy a share on the Cboe and sell it on the ASX.

Roughly 20% of Australian shares volume occurs on the Cboe, compared to 80% on the ASX.

How to trade on the Cboe

To trade on the Cboe, you follow the exact same process as trading on the ASX:

You place an order with your stockbroker
The broker executes the order on the Cboe
You own the stocks as part of your portfolio

With City Index, you can trade Australian stocks via CFDs, which enable you to speculate on price action without owning the shares themselves. This brings several benefits to traders, including:

Going long or short. As you don’t own the stock, you can short a company if you think its value is set to fall
Leverage. With CFDs, you don’t have to pay the full value of your position upfront
Access to 1,000s of markets. Alongside shares, you can trade CFDs on FX, indices, commodities and more

You just need a City Index account to get started. Or if you want to see how CFD trading works without risking any capital, you can try a trading demo – this gives you access to all the same markets, with virtual funds to trade them risk free.

Please note that our Australian stocks are priced from the Australian Securities Exchange (ASX), not the Cboe.

The Cboe 200

Like the ASX, the Cboe has a stock index that tracks the value of the top 200 Australian stocks. It is called the Cboe 200, and should move in step with the ASX 200 (Australia 200). Both indices represent around 80% of the Australian stock market and operate on a free-float basis.

CBOE FAQs

Who owns the Cboe?

The Cboe is owned by Cboe Global Markets, the owner and operator of both the Chicago Board Options Exchange and BATS group of exchanges. It has owned the Cboe Australia since buying it from Chi-X Asia Pacific in June 2021.

What does the Cboe do?

The Cboe provides an alternative stock exchange to the ASX in Australia. It operates in a slightly different way to the ASX, helping ensure that orders are executed as soon as possible.

What does Cboe stand for?

Cboe stands for Chicago Board Options Exchange. When Cboe Global Markets – owner of the CBOE – bought the Chi-X in 2021, it renamed it the Cboe.

When does the Cboe open?

The Cboe opens at 10:00am (AEST), the same time as the ASX. However, it closes slightly later – at 16:13 instead of 16:00. See the full stock market hours for Australia.

From time to time, StoneX Financial Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.

City Index is a trading name of StoneX Financial Pty Ltd.

The material provided herein is general in nature and does not take into account your objectives, financial situation or needs.

While every care has been taken in preparing this material, we do not provide any representation or warranty (express or implied) with respect to its completeness or accuracy. This is not an invitation or an offer to invest nor is it a recommendation to buy or sell investments.

StoneX recommends you to seek independent financial and legal advice before making any financial investment decision. Trading CFDs and FX on margin carries a higher level of risk, and may not be suitable for all investors. The possibility exists that you could lose more than your initial investment further CFD investors do not own or have any rights to the underlying assets.

It is important you consider our Financial Services Guide and Product Disclosure Statement (PDS) available at www.cityindex.com/en-au/terms-and-policies/, before deciding to acquire or hold our products. As a part of our market risk management, we may take the opposite side of your trade. Our Target Market Determination (TMD) is also available at www.cityindex.com/en-au/terms-and-policies/.

StoneX Financial Pty Ltd, Suite 28.01, 264 George Street, Sydney, NSW 2000 (ACN 141 774 727, AFSL 345646) is the CFD issuer and our products are traded off exchange.