Cboe Global Markets Announces New Community Engagement Program, Cboe Empowers

Rhea-AI Summary

Cboe Global Markets, Inc. (CBOE) has launched Cboe Empowers, a community engagement program aimed at supporting under-resourced students in Chicago through mentorship, scholarships, and educational resources. With an initial commitment of $2.5 million, Cboe Empowers collaborates with local organizations like the Greenwood Project and Working in the Schools (WITS) to provide opportunities from elementary education to career development. The initiative aims to expose students to various career paths and support them in securing employment opportunities in the financial industry.

Positive

• Initial funding commitment of $2.5 million to support the program.
• Collaboration with local organizations for greater impact.
• Mentorship and scholarship opportunities for under-resourced students.
• Expansion plans beyond Chicago to other Cboe office locations.

Negative

• None.

CHICAGO, June 14, 2021 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a market operator and global trading solutions provider, today announced the creation of Cboe Empowers, a community engagement program that provides mentorship, scholarship and guidance to under-resourced students throughout their educational journey through access to Cboe's associates, resources, work environment and other learning and experience opportunities.

The program has initially launched in Chicago, with plans to expand to other Cboe office locations around the globe. The vision for Cboe Empowers is to support students through all stages of education from elementary or primary school to career by providing mentorship, learning and experience opportunities, professional development and scholarships to students within the Chicago Public School (CPS) system and graduates pursuing higher education. Cboe Empowers will supplement its own programs by collaborating with local partners, including the Greenwood Project and Working in the Schools (WITS), to create maximum impact for its participants. 

"We are committed to being a local partner in the communities where we live and work, and many of our associates are already involved with outstanding charitable and mentorship organizations," said Ed Tilly, Chairman, President and CEO of Cboe Global Markets, and board member of Cboe Empowers. "Cboe Empowers is a way to bring these collective experiences together to address barriers and equip the next generation with the tools, resources and professional networks they need for early career success."

Cboe Empowers is the company's most ambitious philanthropic endeavor to date with more than $2.5 million initially committed from Cboe and held in a donor advised fund. The program officially launched this spring when Cboe donated $250,000 to Navy Pier on behalf of the Greenwood Project to support educational programming and youth summer employment in Chicago. Several Greenwood Project scholars were also selected to participate in Cboe's 2021 summer internship program.

The Greenwood Project is a nonprofit organization dedicated to introducing Black and Latinx students to careers within the financial industry. For several years, Cboe has provided Greenwood Project students with exposure to the Cboe trading floor, corporate offices and other learning opportunities.

To further its partnership, in December 2020, Cboe donated $250,000 to help fund Greenwood Project's annual operations. Cboe then further entrenched its long-term support by committing to a $100,000 donation each year for the next five years. Additionally, Catherine Clay, Executive Vice President, Data and Access Solutions at Cboe, has joined the Greenwood Project Board of Directors and Gina DeRaimo, Senior Vice President, Business Optimization at Cboe, has joined the organization's educational committee.

WITS (Working in the Schools) is the largest provider of literacy enrichment programs to Chicago public elementary schools. For more than two decades, Cboe has provided resources and mentors from the company's associate base and trading floor to activate weekly one-to-one after school literacy focused mentorship programs at Cboe. Through Cboe Empowers, students in the WITS literacy program will have access to Cboe educational offerings and Greenwood Project programs and services as they transition to high school and beyond.

"Cboe Empowers and our partners share a vision for helping under-resourced Chicago youth gain access to employment opportunities through education and exposure," said Sharon Stanciel, Senior Director, Political and Civic Affairs at Cboe, and Lead Director of the Cboe Empowers board. "By exposing students to the variety of job types and opportunities at Cboe, we hope they may realize the career choices available to them within any industry as they embark on building their future."

"We are immensely grateful for Cboe's dedication to Chicago communities through their support of Navy Pier's employment initiatives," said Marilynn Kelly Gardner, President and CEO of Navy Pier.  "We share a commitment to serve our local communities and are excited to partner with Cboe Empowers to advocate for and support the city's young people."

"We are grateful for Cboe's continued support and look forward to making Cboe Empowers a success," said Bevon Joseph, Co-founder and CEO of the Greenwood Project. "We are on a mission to build a true diversity pipeline for financial services and Cboe's commitment to the Greenwood Project and Cboe Empowers will help a whole generation of students plan for a future they never imagined possible."

"We are thrilled to be a part of Cboe Empowers and its mission to support Chicago youth throughout their educational journey," said Tena Latona, CEO of WITS. "We know that young people who are persisting through familial economic challenges and institutional barriers are four times more likely to graduate from college when exposed to early education programs and develop advanced literacy and comprehension skills by fourth grade. Cboe is doing its part to open doors by providing early access to its facilities, associates and other resources."

Cboe Empowers is part of the company's commitment to Environmental, Social and Governance (ESG) initiatives that accelerate change to better serve its communities, customers, associates and planet. To learn more, read the Cboe 2021 ESG Report.

About Cboe Global Markets, Inc.

Cboe Global Markets (Cboe: CBOE) provides cutting-edge trading and investment solutions to market participants around the world. The company is committed to defining markets through product innovation, leading edge technology and seamless trading solutions.

The company offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S., Canadian and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and volatility products based on the Cboe Volatility Index (VIX Index), recognized as the world's premier gauge of U.S. equity market volatility.

Cboe's subsidiaries include the largest options exchange and the third largest stock exchange operator in the U.S. In addition, the company operates one of the largest stock exchanges by value traded in Europe, and owns EuroCCP, a leading pan-European equities clearing house. Cboe also is a leading market globally for ETP listings and trading. 

The company is headquartered in Chicago with a network of domestic and global offices across the Americas, Europe and Asia, including main hubs in New York, London, Kansas City and Amsterdam. For more information, visit www.cboe.com.  ­­­­­­­

Media Contacts			Analyst Contact
Angela Tu	Tim Cave		Debbie Koopman
+1-646-856-8734	+44 (0) 7593-506-719		+1-312-786-7136
atu@cboe.com	tcave@cboe.com		dkoopman@cboe.com

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SOURCE Cboe Global Markets, Inc.

FAQ

What is Cboe Empowers and when was it launched?

Cboe Empowers is a community engagement program launched by Cboe on June 14, 2021, to support under-resourced students through mentorship, scholarships, and educational resources.

How much funding has Cboe committed to Cboe Empowers?

Cboe has committed an initial funding of $2.5 million to support the Cboe Empowers program.

Which organizations is Cboe partnering with for Cboe Empowers?

Cboe is partnering with local organizations such as the Greenwood Project and Working in the Schools (WITS) to enhance the impact of Cboe Empowers.

What are the goals of the Cboe Empowers program?

The goals of Cboe Empowers include providing mentorship, scholarships, and access to career opportunities for under-resourced students, ultimately aiding their educational journey.

Where is Cboe Empowers initially focused?

Cboe Empowers is initially focused in Chicago, with plans to expand to other Cboe office locations globally.