ASX Shares Dive After Rival Cboe Challenges Market Dominance

ASX Ltd shares tumbled the most in two years as potential market competition from Cboe Global Markets Inc and regulatory issues weigh on Australia’s embattled main exchange operator.

The stock plunged 8.6% on Thursday, the most since June 2023, after the nation’s financial regulator said it was in the final stages of considering a listing market application from Cboe’s Australian unit. The move would allow domestic companies to list on an exchange run by the US rival, threatening to end ASX’s local market domination amid ongoing operational concerns.