Welcome to our dedicated page for Cboe Global Markets news (Ticker: CBOE), a resource for investors and traders seeking the latest updates and insights on Cboe Global Markets stock.
Cboe Global Markets, Inc. (CBOE: CBOE | NASDAQ: CBOE) stands as one of the world's largest exchange holding companies. Cboe delivers advanced trading, clearing, and investment solutions to investors globally, committed to relentless innovation and connecting global markets with world-class technology. The company provides diverse trading products across multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products (ETPs), global foreign exchange (FX), and multi-asset volatility products based on its renowned Cboe Volatility Index (VIX), the global gauge of equity market volatility.
Key Achievements
- Cboe operates the largest options exchange in the U.S. and the leading stock exchange by value traded in Europe.
- It is the second-largest stock exchange operator in the U.S. and a major global player in ETP trading.
Product Offerings & Segments
- Options: With significant growth in trading volumes, the revenue from options trading hit $314.5 million, driven by a 24% rise in index options trading.
- North American Equities: Despite a minor drop in revenue to $86.3 million, the market share in U.S. Equities remained stable.
- Europe and Asia Pacific: Revenue climbed 9% to $48 million, bolstered by non-transaction revenue streams like market data fees.
- Futures: Futures trading saw robust growth, contributing $32.4 million in revenue.
- Global FX: Foreign exchange trading revenue grew by 12% to $18.9 million.
Financial Performance
For the fiscal year 2023, Cboe reported record financial results with a significant rise in diluted earnings per share (EPS) and net revenue. Highlights include a 226% year-over-year increase in diluted EPS to $7.13 and a 10% rise in annual net revenue to $1.9 billion. These figures reflect Cboe's robust market position and strategic initiatives geared towards sustained growth.
Strategic Initiatives
In 2024, Cboe continues to focus on growth and operational efficiency, projecting organic net revenue growth between 5% and 7%. It also emphasized the integration of its digital asset derivatives into its broader Global Derivatives and Clearing businesses, enhancing operational efficiencies and technology leverage. Additionally, Cboe plans to expand its digital asset product offerings, including cash-settled bitcoin and ether futures, further solidifying its position in the digital assets space.
Innovations and Collaborations
Cboe has been at the forefront of trading innovations, introducing trading products like 0DTE (zero days to expiry) options, which have gained popularity among retail and professional traders alike. Recently, Cboe announced collaborations with FTSE Russell to develop new digital asset derivatives, leveraging both parties' expertise to meet growing market demand.
Conclusion
Overall, Cboe Global Markets continues to excel in providing cutting-edge trading solutions and remains committed to expanding its product offerings, leveraging technology, and driving innovation in global financial markets. For investors and traders seeking reliable and advanced trading platforms, Cboe's comprehensive market infrastructure and strategic growth initiatives make it a significant entity in the global trading landscape.
Cboe Global Markets (CBOE) has announced plans to launch options on Cboe Volatility Index (VIX) futures, expected to begin trading on October 14, 2024, subject to regulatory review. These new options will be CFTC-regulated and based on front-month VIX futures, allowing a wider range of market participants to manage or gain exposure to U.S. equity market volatility. The move aims to expand Cboe's VIX complex and address global demand for hedging tools, especially with the upcoming U.S. election, which has historically been a significant volatility catalyst.
The new options will be European-style and physically settle into front-month VIX futures. They are designed to complement existing VIX Index options, providing more choice in expiration dates and enabling more granular hedging strategies. Cboe expects these options to appeal to a broad group of users, including Commodity Trading Advisors and customers of Futures Commission Merchants.
Cboe Global Markets (CBOE) reported its July 2024 trading volume statistics across global business lines. Key highlights include:
- Index options ADV increased by 20.2% year-over-year to 4,140k contracts
- Futures ADV rose 26.1% to 267k contracts
- U.S. Equities On-Exchange ADV decreased by 5.9% to 1,280 million matched shares
- European Equities ADV grew 11.8% to €9,229 million
- Japanese Equities ADV surged 306.9% to 323 billion JPY
- Global FX ADV increased slightly by 1.4% to $45,586 million
These figures demonstrate mixed performance across Cboe's various market segments, with significant growth in derivatives and international equities, but a decline in U.S. equities trading volume.
Cboe Global Markets reported financial results for the second quarter of 2024, showcasing strong performance despite some setbacks. Key highlights include:
- Diluted EPS of $1.33, down 15%, primarily due to impairment of intangible assets in the Digital reporting unit.
- Adjusted Diluted EPS rose 21% to $2.15, matching the quarterly record from Q1 2024.
- Record Net Revenue of $513.8 million, up 10% year-over-year.
- Increased organic total net revenue growth guidance to 6-8% for 2024, up from 5-7%.
- Reaffirmed 2024 adjusted operating expense guidance of $795 to $805 million.
CEO Fredric Tomczyk highlighted the company's robust business model and strategic progress, while CFO Jill Griebenow noted strong performance across all business categories, improved EBITDA margins, and significant shareholder returns.
Cboe Global Markets (CBOE) has announced plans to launch a redesigned Cboe S&P 500 Variance Futures contract (VA), set to begin trading on September 23, 2024, subject to regulatory review. The new product aims to simplify variance trading and settlement, offering an exchange-listed alternative to OTC variance swaps. Key features include:
- Settlement based on annualized realized variance of the S&P 500 Index
- Quoting and trading directly in variance units with a $12 contract size
- Alignment with standard S&P 500 Index (SPX) options expiration dates
- Benefits of price discovery, central clearing, and improved accessibility
The redesign addresses customer feedback and aims to provide a more capital-efficient and user-friendly approach to variance trading in the current regulatory landscape.
Cboe Global Markets announced the winners of its 2024 Options Institute Research Grant Program, sponsored by S&P Dow Jones Indices and SpiderRock Advisors. The recipients include Siamak Javadi, Dr. Ali Nejadmalayeri, and William Campbell for the Fixed Income Index Ecosystem Research Grant, and Anup Basu and Adam Clements for the Derivatives Solutions for Private Wealth and Institutional Investors Research Grant.
The grants support academic research to advance understanding of derivatives usage and financial exchange structures. Recipients will use Cboe's historical data sets, valued up to $35,000, to conduct their research.
Cboe Europe has announced the upcoming launch of Cboe BIDS VWAP-X, a unique trading service for European equities. Scheduled for early Q4 2024, pending regulatory approval, the service will allow market participants to trade at a volume weighted average price (VWAP). Provided by Cboe BIDS Europe, the largest block trading platform in the region, VWAP-X will utilize BIDS' established conditional trade negotiation framework.
This innovation aims to enhance execution outcomes by aligning with the growing trend of systematic and passive investing. The service will benefit from protections against information leakage and will be accessible via FIX connectivity. Customer testing is set for Q3 2024. Pricing details will be disclosed closer to the launch.
Cboe Global Markets reported June 2024 trading volume statistics, noting significant changes across various segments. The average daily volume (ADV) for multiply-listed options dropped by 4%, while index options saw a slight decline of 0.1%. Futures contracts increased by 18.8% year-over-year. U.S. on-exchange equities matched shares decreased by 5.4%, whereas Canadian equities experienced a 28.4% rise. European equities grew by 10.9%, and Japanese equities surged by 80.6%. Global FX reported a new quarterly Spot ADNV record of $47.7 billion. Cboe Japan achieved a record 5.5% market share. The projected RPC for the second quarter of 2024 shows fluctuations across different products, with multiply-listed options at $0.063 per contract and index options at $0.896 per contract.
Cboe Global Markets, the leading derivatives and securities exchange network, is set to announce its Q2 2024 financial results on August 2, 2024, before market opening.
A conference call featuring senior management will follow at 7:30 a.m. CT (8:30 a.m. ET). Investors can access a live audio webcast and presentation on the Investor Relations section of Cboe's website. The call's replay will be available two hours post-conference.
To join the live call via telephone, dial (800) 715-9871 (toll-free) or (646) 307-1963 (toll) with Conference ID 2619514.
Cboe Global Markets announced the launch of the VIXTLT Index, a new volatility index based on the iShares 20+ Year Treasury Bond ETF (TLT). This index, set to debut in Q3 2024, applies Cboe's VIX methodology to track 30-day expected volatility in the U.S. Treasury market. Developed by Cboe Labs, the VIXTLT Index aims to offer investors insights into U.S. Treasury market volatility using options on TLT, which comprises U.S. Treasury bonds with over 20 years of maturity. The index will report volatility in both percentage and basis point terms, providing a comprehensive tool for assessing fixed income volatility. The launch extends Cboe’s suite of over 450 indices and enhances its offerings in the fixed income sector.
Cboe Europe Derivatives (CEDX) announces IMC as its latest direct trading participant. IMC, a global market maker known for its advanced technology and extensive liquidity provision, will access CEDX's range of pan-European index derivatives and equity options.
CEDX, which launched in September 2021, aims to enhance on-screen liquidity. The exchange now offers over 300 equity options across 14 countries, representing more than 90% of the current ADV and open interest for top European equity options. This expansion underscores CEDX's commitment to creating a more efficient European derivatives market.
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