Cboe Global Markets has reported record gains for the third quarter, with net revenue jumping 20% to reach $442 million.
The robust trends were driven by our derivatives franchise, supported by sizable contributions from our data and access solutions and cash and spot markets during the quarter,” said Edward T Tilly, CEO and chairman.
“Through the early part of the fourth quarter, we have seen positive momentum in our derivatives business as we continue to expand access to our core products. The enhancements we have recently made, including the addition of Tuesday and Thursday expirations for SPX options and the expansion of our trading hours, continue to help reshape trading behaviour and expand the overall market.”
“Through the early part of the fourth quarter, we have seen positive momentum in our derivatives business as we continue to expand access to our core products.”
The firm is also investing in solutions that leverage its broader ecosystem: spanning cash markets, data and derivatives markets around the globe.
Chief financial officer and treasurer Brian Schellnoted that: “Continued market uncertainty, coupled with the investments we have made across our cash, data and derivatives categories, helped drive Cboe’s outperformance in the third quarter.”
Net revenues from derivatives markets grew 31%, while data and access solutions grew 15%, and cash and spot markets finished 5% higher on a year-over-year basis. Looking ahead, the firm has increased its 2022 total organic net revenue growth 2expectations to a range of 14-16%, up from its prior guidance range of 9-11%.
Cboe Global Markets won the award for Outstanding Exchange Group at this year’s Leaders in Trading, while its dark pool Cboe BIDS Europe won the category of Outstanding Dark Trading Venue.