CBOE Launches Platform for Trading Shares in Non-Public Companies

CBOE and Globacap Team Up to Launch a Private Markets Trading Platform, Revolutionizing Access to Non-Public Shares

Editorial Team (ET)October 5, 2026

CBOE Global Markets Inc. is making waves by partnering with London-based tech firm Globacap to launch a cutting-edge US trading platform aimed at offering access to private markets. This move will cater to the increasing demand from investors eager to tap into the traditionally illiquid world of private companies, a space that has seen growing interest as initial public offerings (IPOs) have slowed.

Why Investors Are Flocking to Private Markets

In recent years, investors have shown a growing appetite for private companies. With the IPO market experiencing an extended dry spell, many investors are eager to secure stakes in high-growth firms before they go public and experience significant value appreciation. Private companies, especially those in the tech and innovation space, present an attractive opportunity for investors looking to get in early on what could be the next major success story.

CBOE’s new platform will offer these investors a route into the private equity world, making non-public shares more accessible and tradable.

CBOE’s Expansion into Private Equity

CBOE has long been known as a pioneer in the financial markets, particularly with its invention of the options market in the 1970s. Over the years, it has evolved into a global financial powerhouse, acquiring Bats Global Markets in 2017 to broaden its portfolio into trading stocks, ETFs, and currencies. Now, CBOE is taking the next step by launching a private market platform to meet growing investor demand.

To bring this vision to life, CBOE has partnered with Globacap, a technology firm specializing in private market solutions. Globacap's advanced platform will power CBOE's private markets system, allowing for seamless trading of shares in companies that aren’t publicly listed.

What is an Alternative Trading System?

CBOE’s new platform will operate as an alternative trading system (ATS). Unlike traditional stock exchanges, an ATS functions as a less-regulated market that allows for more flexibility, particularly when it comes to trading shares of private companies. By registering as a broker-dealer with the Financial Industry Regulatory Authority (FINRA), CBOE has taken the necessary regulatory steps to operate this platform.

The move positions CBOE to compete with other private equity trading systems, including Nasdaq Private Market, which was spun out in 2021, and ClearList, a platform for secondary private securities transactions owned by market-maker GTS.

Globacap and the Role of Venture Capital

Globacap, a rising star in the financial technology space, raised $21 million in venture capital funding in October 2023. The funding round, which included participation from CBOE, Moore Strategic Ventures, and the Johannesburg Stock Exchange, underscores the significant potential of this partnership. Globacap’s technology will serve as the backbone of CBOE’s new platform, making it easier for investors to trade non-public shares.

Pilot Phase and Future Prospects

As of now, CBOE Private Markets is still in its pilot phase, with no confirmed start date. However, the registration with FINRA as a broker-dealer marks a crucial step forward. The platform is expected to expand over time, giving investors unprecedented access to private markets through an ATS structure.

CBOE is positioning itself as a major player in the private market sector, and its partnership with Globacap could set a new standard for how private companies’ shares are traded. This move reflects a broader trend in the financial markets, where investors are increasingly looking beyond public markets to diversify their portfolios.

A New Era for Investors

For investors, the launch of CBOE Private Markets is an exciting development. By offering access to private companies before they go public, CBOE is providing an avenue for potentially significant returns. This marks a significant shift in how non-public shares are accessed and traded.

With the ability to buy into private companies early, investors could benefit from growth opportunities that were previously reserved for institutional investors or venture capital firms. CBOE’s move could democratize access to these lucrative markets, allowing a broader range of investors to participate.

Conclusion

CBOE’s partnership with Globacap to launch a new private markets platform represents a major innovation in the world of trading. By providing access to non-public shares through an alternative trading system, CBOE is tapping into the growing demand for private market opportunities. This move not only opens doors for individual investors but also sets the stage for future developments in private equity trading. As CBOE Private Markets progresses beyond its pilot phase, it could significantly change the way private companies are accessed and traded.

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