The Australian Securities Exchange is facing tougher competition for listings after the corporate regulator opened the field up to rival operator Cboe Australia, adding to the pressure on Australia’s dominant share trading platform.

The Australian Securities and Investments Commission on Tuesday said it had approved Cboe’s application to list new companies, widening the US-owned exchange’s activities beyond exchange-traded funds and trading in ASX-listed companies.

It becomes the fourth platform in Australia endorsed to list companies, joining the ASX, the National Stock Exchange and the Sydney Stock Exchange.

Cboe’s approval is potentially a threat to the ASX’s domination of the listings market and comes as the Australian exchange is under regulatory scrutiny after a bungled technology

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