Cboe Global Markets Inc (CBOE)

Cboe Global Markets Reports Trading Volume for May 2026June 3, 2026 4:30 PM
PR Newswire (US) CHICAGO, June 3, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity and index derivatives, today reported May trading volume statistics across its global business lines. The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of certain May trading statistics and market share by business segment, volume in select index products, and RPC/net capture, which is reported on a one-month lag, across business lines.Average Daily Trading Volume (ADV) by Month Year-To-Date








May2026May2025%ChgApr
2026% 
ChgMay2026May2025% 
ChgMulti-listed options (contracts, k)15,97312,71125.7 %14,37411.1 %14,42813,2369.0 %Index options (contracts, k)6,0114,33038.8 %6,257-3.9 %6,1364,74529.3 %Futures (contracts, k)120316622.4 %222-8.8 %2552444.3 %U.S. Equities - On-Exchange (matched shares, mn)1,8241,861-2.0 %1,6778.8 %1,8771,7855.2 %U.S. Equities - Off-Exchange (matched shares, mn)24312889.4 %22010.3 %242105129.4 %Canadian Equities (matched shares, k)179,437135,08832.8 %195,488-8.2 %204,573156,85130.4 %European Equities (€, mn)14,88712,10623.0 %16,624-10.4 %16,67114,14417.9 %Australian Equities (AUD, mn)1,03487917.5 %1,125-8.1 %1,15187531.6 %Global FX ($, mn)59,61051,04716.8 %57,8733.0 %65,67354,50320.5 %Cboe Clear Europe Cleared Trades (k)136,837123,10011.2 %141,289-3.2 %712,843702,3851.5 %Cboe Clear Europe Net Settlements (k)1,2601,10014.6 %1,285-1.9 %6,4765,40019.9 %1 In the second quarter of 2025, Digital futures products were transitioned to Cboe Futures Exchange. Futures metrics prior to the second quarter of 2025 exclude Digital futures products.May 2026 Trading Volume Highlights  U.S. Options Cboe's four options exchanges set a monthly ADV record of 22.0 million contracts in May, driven by record multi-list options ADV (16.0 million) and the third-best monthly ADV in index options (6.0 million).S&P 500 Index (SPX) options set a record ADV of 171 thousand contracts during Cboe's Global Trading Hours (GTH) session (8:15 p.m. to 9:25 a.m. ET).SPX recorded its second-highest daily volume on May 6, with 6.5 million contracts traded.FuturesCboe® iBoxx® iShares® $ High Yield Corporate Bond Index Futures (IBHY) futures traded a record $5.8 billion in notional value in May.Cboe® iBoxx® $ Emerging Market Bond Index (IEMD) futures set a monthly record with $230 million in notional value traded.  About Cboe Global MarketsCboe Global Markets (Cboe: CBOE) is a leading global markets operator with a long history of innovation in equity and index derivatives. Since launching the world's first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world's leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more, visit www.cboe.com. Cboe Media Contacts
Cboe Analyst ContactAngela TuTim Cave
Kenneth Hill, CFA
+1-646-856-8734+44 (0) 7593-506-719
+1-312-786-7559
atu@cboe.comtcave@cboe.com
khill@cboe.com






CBOE-VCboe®, Cboe Global Markets®, Cboe Clear®, Cboe Futures Exchange®, CFE®, Cboe Volatility Index®, and VIX® are registered trademarks of Cboe Exchange, Inc. or its affiliates. Standard & Poor's®, S&P®, SPX®, and S&P 500® are registered trademarks of Standard & Poor's Financial Services, LLC, and have been licensed for use by Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.Any products that have the S&P Index or Indexes as their underlying interest are not sponsored, endorsed, sold or promoted by Standard & Poor's or Cboe and neither Standard & Poor's nor Cboe make any representations or recommendations concerning the advisability of investing in products that have S&P indexes as their underlying interests. All other trademarks and service marks are the property of their respective owners.Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at:?https://www.cboe.com/us_disclaimers/. Options involve risk and are not suitable for all market participants. Prior to buying or selling an option, a person should review the Characteristics and Risks of Standardized Options (ODD), which is required to be provided to all such persons. Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606. Trading in futures and options on futures is not suitable for all market participants and involves the risk of loss, which can be substantial and can exceed the amount of money deposited for a futures or options on futures position. You should, therefore, carefully consider whether trading in futures and options on futures is suitable for you in light of your circumstances and financial resources. You should put at risk only funds that you can afford to lose without affecting your lifestyle. For additional information regarding the risks associated with trading futures and options on futures and with trading security futures, see respectively the Risk Disclosure Statement Referenced in CFTC Letter 16-82 and the Risk Disclosure Statement for Security Futures Contracts.The iBoxx iShares $ High Yield Corporate Bond Index and the iBoxx iShares $ Investment Grade Corporate Bond Index ("iBoxx iShares $ Corporate Bond Indices") and the iBoxx® USD Liquid Emerging Market Sovereigns & Sub-Sovereigns Index are products of S&P Dow Jones Indices LLC or its affiliates or licensors ("S&P DJI") and have been licensed for use by Cboe Exchange, Inc. iBoxx®, S&P®, S&P 500®, SPX®, US 500®, The 500®, DSPX®, DSPBX®, iTraxx®, CDX®, and Dividend Aristocrats® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones") and has been licensed for use by S&P Dow Jones Indices; and these trademarks have been licensed for use by S&P DJI and sublicensed for certain purposes by Cboe Exchange, Inc. Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index futures and options on futures, Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond Index futures and options on futures, and Cboe® iBoxx® $ Emerging Market Bond Index futures are not sponsored, endorsed, sold, or promoted by S&P DJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the iBoxx iShares $ Corporate Bond Indices or the iBoxx® USD Liquid Emerging Market Sovereigns & Sub-Sovereigns Index.The iBoxx® iShares® $ High Yield Corporate Bond Index and the iBoxx® iShares® $ Investment Grade Corporate Bond Index (the "Indexes"), futures contracts on the Indexes and options on futures contracts on the Indexes ("Contracts") are not sponsored by, or sold by BlackRock, Inc. or any of its affiliates (collectively, "BlackRock"). BlackRock makes no representation or warranty, express or implied to any person regarding the advisability of investing in securities, generally, or in the Contracts in particular. Nor does BlackRock make any representation or warranty as to the ability of the Index to track the performance of the fixed income securities market, generally, or the performance of HYG, LQD or any subset of fixed income securities.BlackRock has not calculated, composed or determined the constituents or weightings of the fixed income securities that comprise the Indexes ("Underlying Data"). BlackRock is not responsible for and has not participated in the determination of the prices and amounts of the Contracts, or the timing of the issuance or sale of such Contracts or in the determination or calculation of the equation by which the Contracts are to be converted into cash (if applicable). BlackRock has no obligation or liability in connection with the administration or trading of the Contracts. BlackRock does not guarantee the accuracy or the completeness of the Underlying Data and any data included therein and BlackRock shall have no liability for any errors, omissions or interruptions related thereto.BlackRock makes no warranty, express or implied, as to results to be obtained by S&P DJI, the parties to the Contracts or any other person with respect to the use of the Underlying Data or any data included therein. BlackRock makes no express or implied warranties and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the Underlying Data or any data included therein. Without limiting any of the foregoing, in no event shall BlackRock have any liability for any special, punitive, direct, indirect or consequential damages (including lost profits) resulting from the use of the Underlying Data or any data included therein, even if notified of the possibility of such damages.iShares® is a registered trademark of BlackRock Fund Advisors and its affiliates. View original content to download multimedia:https://www.prnewswire.com/news-releases/cboe-global-markets-reports-trading-volume-for-may-2026-302790640.htmlSOURCE Cboe Global Markets, Inc. Original: Cboe Global Markets Reports Trading Volume for May 2026

Cboe Receives SEC Approval to Offer Extended Trading Hours for Select Multi-Listed Single Stock OptionsMay 28, 2026 2:15 PM
PR Newswire (US) Cboe to launch pre- and post-market trading sessions for select equity options, beginning July 13, 2026Eligible equity options must meet minimum options volume and underlying equity market cap and liquidity thresholdsInitiative builds on Cboe's efforts to expand investor access to U.S. marketsCHICAGO, May 28, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity and index derivatives, today announced the Securities and Exchange Commission (SEC) has approved its filing to begin offering extended trading hours for select multi-listed equity options. Cboe Options Exchange (C1) plans to begin offering the extended trading hours on July 13, 2026, subject to SEC approval of a related rule filing. The new multi-listed extended trading hours will include a pre-market session from 7:30 a.m. ET to 9:25 a.m. ET and a post-market session from 4:00 p.m. ET to 4:15 p.m. ET, Monday to Friday, covering some of the most actively traded and liquid symbols. Based on the proposed criteria, Cboe anticipates approximately 20 names — including all the Magnificent 7 stocks such as Nvidia, Tesla, and Apple, as well as other popular single-stock names like Palantir, Broadcom and AMD — to be available for trading at launch. "Today's SEC approval marks an important milestone for the U.S. options industry, as Cboe continues to take the lead in expanding market access to meet growing demand from investors globally," said Meaghan Dugan, Head of U.S. Derivatives at Cboe. "By launching first with a select group of single-name options, we are deliberately taking a measured approach to help ensure market safeguards and investor protections remain in place. As the industry moves toward near-24x5 trading in equities, this development will also help better align options trading – especially in the most high-demand names – with their underlying securities, enabling investors to manage risk and seize opportunities more effectively in today's fast-moving markets."This is the latest effort by Cboe to meet demand for U.S. markets by expanding trading hours to broaden market access for international investors. Cboe currently offers near 24x5 trading in its Global Trading Hours (GTH) (8:15 p.m. ET to 9:25 a.m. ET) and Curb Trading Hours (4:15 p.m. ET to 5:00 p.m. ET) for several of its proprietary index options, including S&P 500 (SPX) Index options, Cboe Volatility Index (VIX) options, Mini S&P 500 (XSP) Index options and Russell 2000 (RUT) Index options. GTH and Curb volumes reached record levels in the first quarter of 2026, up 32% compared to the first quarter of 2025, driven in part by demand from customers in the Asia-Pacific region.In its U.S. equities business, Cboe currently offers trading from 4 a.m. ET to 8 p.m. ET on two of its four exchanges. Cboe also plans to launch 23x5 U.S. equities trading on its Cboe EDGX Equities Exchange (EDGX) in December, pending regulatory approval and industry readiness.The ability to trade single-stock options outside of the regular U.S. session may allow investors to better manage their options positions around market-moving events, such as pre- or post-market company announcements or macro-economic data releases that are historically released during the new windows. The post-market trading session will also provide investors with a 15-minute post-close window to manage positions in response to after-market events, potentially helping to reduce contra-exercise risk.To be eligible for the pre- and post-market sessions, equity options must for the preceding six months have an average daily volume of 150,000 contracts or higher, an underlying equity market capitalization of $50 billion or higher, and an underlying equity average daily trading volume of 10 million shares or higher. Cboe expects to update the multi-listed equity options class list semi-annually, once based on data from July 1 through December 31, and once on data from January 1 through June 30.For more information, visit Equity Options Extended Trading Hours FAQ.About Cboe Global MarketsCboe Global Markets (Cboe: CBOE) is a leading global markets operator with a long history of innovation in equity and index derivatives. Since launching the world's first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world's leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more, visit www.cboe.com.Cboe Media Contacts
Cboe Analyst Contact



Angela TuTim Cave
Kenneth Hill, CFA+1-646-856-8734+44 (0) 7593-506-719
+1-312-786-7559atu@cboe.comtcave@cboe.com
khill@cboe.comCBOE-C
CBOE-OECboe®, Cboe Global Markets®, and VIX ® are registered trademarks or service marks of Cboe Exchange, Inc and S&P 500® is a registered trademark of Standard & Poor's Financial Services LLC. All other trademarks and service marks are the property of their respective owners. Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (ODD). Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606.Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P or the third-party sites referenced in this press release. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice or a recommendation to buy or sell a security, future, or other financial product. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: https://www.cboe.com/us_disclaimers/. Cautionary Statements Regarding Forward-Looking InformationThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as "may," "might," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price and new products and services competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our business and operational dependence on and exposure to risk from third parties; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our global operations, growth, and strategic acquisitions, wind downs, divestitures, or alliances effectively; increases in the cost of the products and services we use; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, liquidity, market, investment, counterparty, and default risks, associated with operating our  clearinghouses; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing our business interests and our regulatory responsibilities; the loss of key customers or a significant reduction in trading or clearing volumes by key customers; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; the accuracy of our estimates and expectations; and litigation risks and other liabilities. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2025 and other filings made from time to time with the SEC.We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.  View original content to download multimedia:https://www.prnewswire.com/news-releases/cboe-receives-sec-approval-to-offer-extended-trading-hours-for-select-multi-listed-single-stock-options-302784864.htmlSOURCE Cboe Global Markets, Inc. Original: Cboe Receives SEC Approval to Offer Extended Trading Hours for Select Multi-Listed Single Stock Options

Cboe Hires Boudewijn Duinstra as Executive Vice President, Chief Risk OfficerMay 26, 2026 4:15 PM
PR Newswire (US) CHICAGO, May 26, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity and index derivatives, today announced the planned hiring of Boudewijn Duinstra as Executive Vice President and Chief Risk Officer. Upon joining at a future date, Mr. Duinstra will lead Cboe's global risk management function and further strengthen the company's enterprise risk framework, operational resilience, and governance. Mr. Duinstra brings more than three decades of experience across risk management, clearing and derivatives markets, including leadership roles at some of the world's largest and most systemically important financial institutions. Most recently, he served as CEO of ABN AMRO Clearing USA LLC. He was previously Head of Risk Management at ICE Clear Europe and held multiple senior roles at ABN AMRO, including Global Chief Risk Officer and Managing Board Member of ABN AMRO Clearing Bank. Earlier in his career, he worked in trading and risk management at a leading proprietary trading firm."As we continue to execute on our next phase of growth, maintaining a strong, resilient, and globally integrated risk management framework remains foundational to our strategy and long-term success," said Craig Donohue, Chief Executive Officer of Cboe Global Markets. "Boudewijn Duinstra brings deep enterprise risk expertise, proven operational leadership, and direct experience in areas core to Cboe's future growth – particularly derivatives and clearing – which will be highly valuable as we scale our capabilities globally. We are pleased to welcome him to our Executive Leadership team." "As a leading global markets operator, Cboe has for decades operated dynamic, interconnected markets where resiliency, risk discipline, and operational integrity are paramount," said Boudewijn Duinstra. "As Cboe's business continues to innovate and evolve, I look forward to building on the strong risk management framework established by its leadership and ensuring that it remains a key enabler of Cboe's continued success."Mr. Duinstra will be based at Cboe's global headquarters in Chicago and will also spend time in Amsterdam, supporting the company's presence in one of its largest international markets and across Cboe Clear U.S. and European Equities – two closely linked, strategic business segments. He will report to Mr. Donohue.About Cboe Global Markets
Cboe Global Markets (Cboe: CBOE) is a leading global markets operator with a long history of innovation in equity and index derivatives. Since launching the world's first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world's leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more, visit www.cboe.com.Cboe Media Contacts
Cboe Analyst Contact
Angela Tu+1-646-856-8734 atu@cboe.comTim Cave +44 (0) 7593-506-719 tcave@cboe.com
Kenneth Hill, CFA +1-312-786-7559 khill@cboe.com







CBOE-C
CBOE-OECboe®, Cboe Global Markets®, and VIX ® are registered trademarks or service marks of Cboe Exchange, Inc and S&P 500® is a registered trademark of Standard & Poor's Financial Services LLC. All other trademarks and service marks are the property of their respective owners. Cautionary Statements Regarding Forward-Looking InformationCertain information contained in this press release may constitute forward-looking statements. We caution readers not to place undue reliance on any forward-looking statements, which speak only as of the date made and are subject to a number of risks and uncertainties. View original content to download multimedia:https://www.prnewswire.com/news-releases/cboe-hires-boudewijn-duinstra-as-executive-vice-president-chief-risk-officer-302782166.htmlSOURCE Cboe Global Markets, Inc. Original: Cboe Hires Boudewijn Duinstra as Executive Vice President, Chief Risk Officer

Cboe Begins Offering Daily Expirations for Dow Jones Industrial Average Index OptionsMay 18, 2026 10:00 AM
PR Newswire (US) Dow Jones Industrial Average index (DJX) options now have contracts expiring every trading dayExclusively listed on Cboe, DJX options are based on index 1/100th the size of Dow Jones Industrial AverageExpansion of expirations reflects growing demand for short-dated index options trading strategiesCHICAGO, May 18, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity derivatives, today announced the expansion of its Dow Jones Industrial Average® index (DJX) options suite with the addition of daily expiring options, effective May 18, 2026. DJX options are exclusively listed and traded on Cboe Options (C1) and Cboe C2 Options (C2) exchanges and provide investors access to one of the oldest and most widely followed equity indices, the Dow Jones Industrial Average (DJIA®), which measures the performance of 30 blue-chip U.S. companies. DJX options are based on 1/100th of the DJIA level, providing a more efficiently sized contract for traders to manage their notional exposure with greater flexibility and precision. As of March 31, 2026, DJX index options had an open interest representing more than $472 million in notional value."We have seen that investors are increasingly utilizing index options for their shorter-dated strategies, and Cboe is proud to broaden our product lineup across different types of market exposures and index constructions to include daily expiring options on a household-name such as the Dow Jones Industrial Average," said Meaghan Dugan, Head of U.S. Derivatives at Cboe. "For decades, The Dow® has been a closely watched gauge of market performance. By adding daily expirations, traders have another tool to help hedge or implement yield strategies with DJX options to complement or augment their existing strategies."Cboe offers daily expirations for several of its proprietary index options, including S&P 500 Index® (SPX®) options, mini-SPX (XSP) options, Russell 2000 Index (RUT) options, Cboe Magnificent 10 Index (MGTN) options, Cboe Bitcoin U.S. ETF Index (CBTX) options and Cboe Mini Bitcoin U.S. ETF Index (MBTX). Shorter-dated or zero-days-to-expiration (0DTE) trading has grown significantly in recent years, driven in part by increased retail adoption and the demand for daily hedging, income generation or directional strategies without overnight risk exposure. In the first quarter of 2026, 0DTE trading represented a record 50.11% of all index options trading on Cboe's options markets.Cboe has secured broad industry support for the expansion of the DJX options suite, including from major U.S. and international retail brokers.Robert Ross, Chief Commercial Officer at S&P Dow Jones Indices, said: "We are delighted to deepen our collaboration with Cboe to license the Dow Jones Industrial Average for index (DJX) options with daily expirations, responding to the demand from investors for more agile and transparent risk-management trading solutions. With the 1/100th contract size and cash settlement, these options help democratize access to DJX blue-chip index trading, empowering traders of all levels to execute swift, precise strategies with greater ease and confidence."Abhishek Fatehpuria, VP of Product Management at Robinhood, said: "As retail traders become more sophisticated, we're seeing them take a more active approach to managing short-term market exposure. Cboe's addition of daily expirations for DJX options reflects this demand and gives customers another precise tool to help them manage risk and express near-term views."Jeff Shi, Regional Director of Futu Securities, said: "Futu helps investors access global markets with fast execution, real-time data, and powerful trading tools, making it easier for our clients to respond to market opportunities. We have seen strong and growing interest among our clients in short-dated options strategies, from weekly expirations to daily expirations, particularly as investors seek more precise tools to manage risk and capture short-term opportunities. The introduction of daily expirations for DJX options is a timely enhancement that broadens the toolkit available to both retail and active traders, and we believe this product will further support the increasing demand for flexible, capital-efficient exposure to the Dow Jones Industrial Average."Wolverine Trading said: "As a leading liquidity provider, Wolverine Trading is pleased to serve as the Designated Primary Market-Maker (DPM) in DJX options, helping to expand trading opportunities in an index as recognizable and tracked as the Dow. Short-dated trading strategies have shifted the way many participants generate income and manage risk. With its price-weighted structure of 30 blue chip constituents, and now the availability of daily expirations in European-style, cash-settled options, DJX options may offer unique appeal to U.S. and foreign investors."Index options are designed to offer the benefits of cash-settlement, which means accounts are debited or credited in cash and there is no physical transfer of shares, and European-style exercise – meaning options expire on their expiration date and there is no risk of early assignment. We believe these important contract dynamics, along with the mitigation of contra-exercise risk, make index options desirable for daily trading strategies and precise risk management.Cboe began listing P.M.-settled DJX options expiring Monday to Thursday (options symbol: DJXW) on May 18. The DJXW options are in addition to the existing Friday P.M.-settled weekly contracts and third Friday A.M.-settled monthly contracts. DJX options are available to trade from 9:30 a.m. ET to 4:15 p.m. ET, Monday through Friday.For more information, visit DJX Index Options.About Cboe Global MarketsCboe Global Markets (Cboe: CBOE) is a leading global markets operator with a long history of innovation in equity derivatives. Since launching the world's first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world's leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more, visit www.cboe.com.Cboe Media Contacts
Cboe Analyst Contact




Angela TuTim Cave
Kenneth Hill, CFA
+1-646-856-8734+44 (0) 7593-506-719
+1-312-786-7559
atu@cboe.comtcave@cboe.com
khill@cboe.com
CBOE-C
CBOE-OECboe®, Cboe Global Markets®, and VIX® are registered trademarks and Cboe Magnificent 10 and MGTN are service marks of Cboe Exchange, Inc. The Dow Jones Industrial Average and the S&P 500 Index are proprietary to S&P Dow Jones Indices LLC or its affiliates. S&P®, S&P 500®, The 500®, US 500™ and  SPX® are trademarks of Standard & Poor's Financial Services, LLC or its affiliates; Dow Jones®, Dow Jones Industrial Average®, DJIA® and The Dow®  are trademarks of Dow Jones Trademark Holdings LLC; all of which have been licensed for use by Cboe Exchange, Inc. Cboe Exchange's options on the Dow Jones Industrial Average and the S&P 500 Index are not sponsored, issued or endorsed by S&P Dow Jones Indices and S&P Dow Jones Indices does not have any liability with respect thereto. All other trademarks and service marks are the property of their respective owners. Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (ODD). Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606.Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P or the third-party sites referenced in this press release. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice or a recommendation to buy or sell a security, future, or other financial product. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: https://www.cboe.com/us_disclaimers/. Cautionary Statements Regarding Forward-Looking InformationThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as "may," "might," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price and new products and services competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our business and operational dependence on and exposure to risk from third parties; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our global operations, growth, and strategic acquisitions, wind downs, divestitures, or alliances effectively; increases in the cost of the products and services we use; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, liquidity, market, investment, counterparty, and default risks, associated with operating our  clearinghouses; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing our business interests and our regulatory responsibilities; the loss of key customers or a significant reduction in trading or clearing volumes by key customers; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; the accuracy of our estimates and expectations; and litigation risks and other liabilities. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2025 and other filings made from time to time with the SEC.We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.  View original content to download multimedia:https://www.prnewswire.com/news-releases/cboe-begins-offering-daily-expirations-for-dow-jones-industrial-average-index-options-302774772.htmlSOURCE Cboe Global Markets, Inc. Original: Cboe Begins Offering Daily Expirations for Dow Jones Industrial Average Index Options

Cboe Global Markets Announces 2026 Annual Meeting ResultsMay 14, 2026 12:30 PM
PR Newswire (US) CHICAGO, May 14, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity derivatives, today announced the preliminary shareholder voting results from its 2026 Annual Meeting held today. All 12 board of director nominees served during the 2025-2026 board term and received a majority of votes cast. The board members elected to serve one-year terms expiring in 2027 are:William M. Farrow, IIICraig S. DonohueEdward J. FitzpatrickIvan K. FongJanet P. FroetscherJill R. GoodmanErin A. MansfieldCecilia H. MaoJennifer J. McPeekRoderick A. PalmoreJames E. ParisiFredric J. TomczykAlexander J. Matturri, Jr., who joined the Board of Directors of Cboe Global Markets in 2020, did not stand for reelection. "On behalf of the Cboe Board, we thank Alex for his many contributions and wish him the best," said William M. Farrow, III, non-executive Chairman of the Board of Cboe Global Markets.In other proposals, shareholders:Approved, in a non-binding resolution, the compensation paid to the company's executive officers;Ratified the appointment of KPMG LLP as the company's independent registered public accounting firm for the 2026 fiscal year; andRejected stockholder proposal regarding shareholder right to act by written consent.Additional information about each of the matters acted upon by shareholders at the Annual Meeting is in the proxy statement that was furnished to shareholders in connection with the meeting. The proxy statement is also available in the Investor Relations section of www.cboe.com. The final vote totals for the matters acted upon by shareholders at the Annual Meeting will be reported in a current report on Form 8-K filing with the SEC and posted on http://ir.cboe.com.About Cboe Global MarketsCboe Global Markets (Cboe: CBOE) is a leading global markets operator with a long history of innovation in equity derivatives. Since launching the world's first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world's leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more, visit www.cboe.com.Cboe Media Contacts
Cboe Analyst ContactAngela TuTim Cave
Kenneth Hill, CFA
+1-646-856-8734+44 (0) 7593-506-719
+1-312-786-7559
atu@cboe.com tcave@cboe.com
khill@cboe.com 
CBOE-C
CBOE-OECboe®, Cboe Global Markets®, and VIX ® are registered trademarks or service marks of Cboe Exchange, Inc and S&P 500® is a registered trademark of Standard & Poor's Financial Services LLC. All other trademarks and service marks are the property of their respective owners.  View original content to download multimedia:https://www.prnewswire.com/news-releases/cboe-global-markets-announces-2026-annual-meeting-results-302772572.htmlSOURCE Cboe Global Markets, Inc. Original: Cboe Global Markets Announces 2026 Annual Meeting Results

Cboe Hires Julie Bauer as Senior Vice President, Head of Government RelationsMay 11, 2026 10:00 AM
PR Newswire (US) CHICAGO, May 11, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity derivatives, today announced the hiring of Julie Bauer as Senior Vice President, Head of Government Relations, effective May 19, 2026. Ms. Bauer will lead Cboe's global engagement and advocacy efforts with regulators, policymakers, and industry stakeholders, while helping to advance its long-term strategy. "We are pleased to welcome Julie Bauer as Head of Government Relations," said Patrick Sexton, General Counsel and Corporate Secretary at Cboe Global Markets. "For more than 50 years, Cboe has shaped the U.S. options industry by driving innovation, while building trust with policymakers and consistently championing thoughtful, principled regulation that prioritizes investor protection. As new technologies rapidly reshape financial markets and the regulatory landscape, Julie brings deep expertise and sound judgment that will help us stay ahead in this dynamic environment, position us for new opportunities, and advance our strategic priorities."Ms. Bauer joins Cboe from OCC, the world's largest equity derivatives clearing organization, where she served as Chief External Relations Officer. In that role, she led engagement with congressional and regulatory policymakers, directed advocacy for the U.S. Securities Markets Coalition on behalf of the listed options industry, and oversaw external communications. She also managed OCC's investor education initiatives, including The Options Industry Council (OIC). Prior to OCC, Ms. Bauer served as Senior Vice President of Government Relations at FINRA and previously led government relations for the Chicago Board of Trade.Julie Bauer said, "I'm excited to join Cboe at such a pivotal moment in its growth and transformation. Cboe has long been the leader in building the U.S. options markets and continues to shape the industry's evolution. I look forward to joining its talented government relations and policy team as we engage with policymakers in support of vibrant and secure markets for all investors."Ms. Bauer's hiring follows the retirement of Angelo Evangelou, Chief Policy Officer, in April 2026. She will be based in Washington, D.C., and report to Mr. Sexton.About Cboe Global MarketsCboe Global Markets (Cboe: CBOE) is a leading global markets operator with a long history of innovation in equity derivatives. Since launching the world's first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world's leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more, visit www.cboe.com.Cboe Media Contacts
Cboe Analyst Contact
Angela Tu+1-646-856-8734 atu@cboe.comTim Cave +44 (0) 7593-506-719 tcave@cboe.com
Kenneth Hill, CFA +1-312-786-7559 khill@cboe.com





CBOE-C
CBOE-OECboe®, Cboe Global Markets®, and VIX ® are registered trademarks or service marks of Cboe Exchange, Inc and S&P 500® is a registered trademark of Standard & Poor's Financial Services LLC. All other trademarks and service marks are the property of their respective owners.   View original content to download multimedia:https://www.prnewswire.com/news-releases/cboe-hires-julie-bauer-as-senior-vice-president-head-of-government-relations-302767823.htmlSOURCE Cboe Global Markets, Inc. Original: Cboe Hires Julie Bauer as Senior Vice President, Head of Government Relations

Cboe Global Markets Reports Trading Volume for April 2026May 5, 2026 4:30 PM
PR Newswire (US) CHICAGO, May 5, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity derivatives, today reported April trading volume statistics across its global business lines. The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of certain April trading statistics and market share by business segment, volume in select index products, and RPC/net capture, which is reported on a one-month lag, across business lines.Average Daily Trading Volume (ADV) by Month Year-To-Date








Apr2026Apr2025%ChgMar
2026%  
ChgApr2026Apr2025%  
ChgMulti-listed options (contracts, k)14,37413,2608.4 %14,2031.2 %14,05113,3725.1 %Index options (contracts, k)6,2575,08723.0 %6,876-9.0 %6,1674,85327.1 %Futures (contracts, k)1222309-28.0 %338-34.1 %2682651.1 %U.S. Equities - On-Exchange (matched shares, mn)1,6772,118-20.8 %2,048-18.1 %1,8901,7657.1 %U.S. Equities - Off-Exchange (matched shares, mn)22012575.7 %240-8.4 %242100142.8 %Canadian Equities (matched shares, k)195,488170,51714.6 %203,135-3.8 %210,630162,35729.7 %European Equities (€, mn)16,62417,410-4.5 %18,629-10.8 %17,12214,68416.6 %Australian Equities (AUD, mn)1,1251,0477.4 %1,318-14.7 %1,18187335.3 %Global FX ($, mn)57,87365,340-11.4 %79,865-27.5 %67,17155,39821.3 %Cboe Clear Europe Cleared Trades (k)141,289167,213-15.5 %169,513-16.7 %576,006579,285-0.6 %Cboe Clear Europe Net Settlements (k)1,2851,09916.9 %1,431-10.2 %5,2164,30021.3 %












1 In the second quarter of 2025, Digital futures products were transitioned to Cboe Futures Exchange. Futures metrics prior to the second quarter of 2025 exclude Digital futures products.April 2026 Trading Volume Highlights  U.S. Options Cboe's proprietary index options set a single-day record on April 14 with 9.0 million contracts traded.S&P 500 Index (SPX) options set a single-day record on April 17 with 6.7 million contracts traded.Several areas across the business saw the second-highest monthly ADV on record, including Cboe's proprietary index options (6.3 million), SPX options (5.0 million), mini-SPX options (XSP) (188 thousand contracts), and trading during Cboe's Global Trading Hours (GTH) session (8:15 p.m. to 9:25 a.m. ET) (175 thousand contracts).About Cboe Global MarketsCboe Global Markets (Cboe: CBOE) is a leading global markets operator with a long history of innovation in equity derivatives. Since launching the world's first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world's leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more, visit www.cboe.com. Cboe Media Contacts
Cboe Analyst ContactAngela TuTim Cave
Kenneth Hill, CFA
+1-646-856-8734+44 (0) 7593-506-719
+1-312-786-7559
atu@cboe.comtcave@cboe.com
khill@cboe.com






CBOE-VCboe®, Cboe Global Markets®, Cboe Clear®, Cboe Futures Exchange®, CFE®, Cboe Volatility Index®, and VIX® are registered trademarks of Cboe Exchange, Inc. or its affiliates. Standard & Poor's®, S&P®, SPX®, and S&P 500® are registered trademarks of Standard & Poor's Financial Services, LLC, and have been licensed for use by Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.Any products that have the S&P Index or Indexes as their underlying interest are not sponsored, endorsed, sold or promoted by Standard & Poor's or Cboe and neither Standard & Poor's nor Cboe make any representations or recommendations concerning the advisability of investing in products that have S&P indexes as their underlying interests. All other trademarks and service marks are the property of their respective owners.Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at:?https://www.cboe.com/us_disclaimers/. Options involve risk and are not suitable for all market participants. Prior to buying or selling an option, a person should review the Characteristics and Risks of Standardized Options (ODD), which is required to be provided to all such persons. Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606. View original content to download multimedia:https://www.prnewswire.com/news-releases/cboe-global-markets-reports-trading-volume-for-april-2026-302763165.htmlSOURCE Cboe Global Markets, Inc. Original: Cboe Global Markets Reports Trading Volume for April 2026

Cboe Global Markets Reports Results for First Quarter 2026 and Continued Execution of Strategic RealignmentMay 1, 2026 7:30 AM
PR Newswire (US)

First Quarter Highlights*Record Diluted EPS for the Quarter of $3.66, Up 54 percentRecord Adjusted Diluted EPS1 for the Quarter of $3.70, Up 48 percentRecord Net Revenue for the Quarter of $728.9 million, Up 29 percentIncreases 2026 Organic Total Net Revenue Growth Target2 to 'low double-digit to mid-teens' from 'mid single-digit' and Cboe Data Vantage3 Organic Net Revenue Growth Target2 to 'low double-digit' from 'mid to high single-digit'Decreases 2026 Adjusted Operating Expense Guidance2 to $838 to $853 million from $864 to $879 millionAnnounces continued execution of strategic realignment to strengthen core businesses and enable greater investment for growthCHICAGO, May 1, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE) today reported financial results for the first quarter of 2026 and announced additional actions related to its strategic realignment.







"Cboe delivered an exceptional first quarter, building on our 2025 momentum by producing 29 percent net revenue growth, 54 percent diluted EPS growth, and 48 percent adjusted diluted EPS1 growth," said Jill Griebenow, Cboe Global Markets Executive Vice President, Chief Financial Officer. "Our Cash and Spot Markets net revenue rose 34 percent on strong market activity. Our Derivatives business was up 32 percent on another quarter of record volumes across our index options products, and our Data Vantage business grew 19 percent on a year-over-year basis. Moving forward, we anticipate 2026 total organic net revenue growth2 will be in the 'low double-digit to mid-teens' range, up from our prior guidance of 'mid single-digit', and we anticipate 2026 Data Vantage organic net revenue growth2 will be in the 'low double-digit' range, up from our prior guidance of 'mid to high single-digit'. In addition, given disciplined expense management and incorporating the impact from today's additional actions related to our strategic realignment, we are reducing our full year 2026 adjusted operating expense guidance2 range to $838 to $853 million from $864 to $879 million. We are pleased with the strong start to the year and remain focused on producing durable shareholder returns in the quarters ahead.""As I reflect on my first twelve months at Cboe, it is clear that the decisive steps we have taken are moving the company closer to realizing its full potential," said Craig Donohue, Chief Executive Officer of Cboe Global Markets. "Following a thorough strategic review and the adoption of a more rigorous financial and strategic framework in the second half of 2025, we announced a realignment to increase focus and investment in the core businesses that drive our earnings. We moved quickly to reorient the portfolio, winding down non–core initiatives, optimizing resource allocation across the organization, and reaching a definitive agreement last week to sell Cboe Canada and Cboe Australia."Today, we announced the next phase of our plan by realigning our organization to build more agile teams positioned to operate effectively in a fast–changing environment. Our earlier actions to sell, wind down, and optimize certain businesses, combined with today's strategic realignment, are expected to reduce our workforce by approximately 20 percent."As evidenced by our record results, we are executing these changes from a position of strength. These actions position us to invest more resources, including adding talent in emerging areas such as financial and economic event markets, tokenization initiatives, scaling and expanding our clearing services in the U.S. and Europe, and broadening our sales, marketing, and investor education efforts on a global basis. I have been in this industry for several decades, and I have never been as excited about the road ahead as I am now as we continue to build long–term value for shareholders through disciplined execution and focused investment efforts."*All comparisons are first quarter 2026 compared to the same period in 2025.(1) A full reconciliation of our non-GAAP results to our GAAP ("Generally Accepted Accounting Principles") results is included in the attached tables. See "Non-GAAP Information" in the accompanying financial tables.(2) Specific quantifications of the amounts that would be required to reconcile the company's organic net revenue growth guidance and adjusted operating expenses guidance are not available. The company believes that there is uncertainty and unpredictability with respect to certain of its GAAP measures, primarily related to acquisition-related revenues and costs that would be required to reconcile to GAAP revenues less cost of revenues, and GAAP operating expenses, which preclude the company from providing accurate guidance on certain forward-looking GAAP to non-GAAP reconciliations. The company believes that providing estimates of the amounts that would be required to reconcile the range of the company's organic net revenue growth guidance and adjusted operating expenses would imply a degree of precision that would be confusing or misleading to investors for the reasons identified above.(3) Cboe Data Vantage refers to the company's Cboe Data Vantage business (formerly known as Data and Access Solutions). Cboe Data Vantage is subsequently referred to as Data Vantage throughout this press release.Consolidated First Quarter ResultsTable 1 below presents summary selected unaudited condensed consolidated financial information for the company as reported and on an adjusted basis for the three months ended March 31, 2026 and 2025.Table 1





Consolidated First Quarter Results
($ in millions except per share
amounts and percentages)1Q261Q25Change1Q26Adjusted¹1Q25Adjusted¹ChangeTotal Revenues Less Cost of
Revenues$        728.9$        565.229 %$        728.9$        565.229 %Total Operating Expenses$        223.3$        211.36 %$        200.9$        192.44 %Operating Income$        505.6$        353.943 %$        528.0$        372.842 %Operating Margin %69.4 %62.6 %       6.8 pp72.4 %66.0 %       6.4 ppNet Income Allocated to Common
Stockholders$        384.1$        249.454 %$        388.2$        263.148 %Net Income Allocated to Common
Stockholders Margin %52.7 %44.1 %       8.6 pp53.3 %46.5 %       6.8 ppDiluted Earnings Per Share$          3.66$          2.3754 %$          3.70$          2.5048 %Operating EBITDA¹$        535.1$        384.239 %$        540.8$        384.741 %Operating EBITDA Margin %¹                                     73.4 %68.0 %       5.4 pp74.2 %68.1 %       6.1 ppEBITDA¹$        539.0$        383.740 %$        544.6$        383.842 %EBITDA Margin %¹73.9 %67.9 %       6.0 pp74.7 %67.9 %       6.8 ppTotal revenues less cost of revenues (referred to as "net revenue"2) of $728.9 million increased 29 percent, compared to $565.2 million in the prior-year period, a result of increases across all net revenue2 captions.Total operating expenses were $223.3 million versus $211.3 million in the first quarter of 2025, an increase of $12.0 million. Adjusted operating expenses1 of $200.9 million were up $8.5 million compared to $192.4 million in the first quarter of 2025. These increases were primarily due to an increase in compensation and benefits, driven by an increase in accrued bonuses as a result of strong company performance, increase in payroll benefits, and an increase in salaries primarily due to merit increases.The effective tax rate for the first quarter of 2026 was 25.2 percent as compared with 28.4 percent in the first quarter of 2025. The lower effective tax rate in 2026 is primarily due to the resolution of uncertain tax positions with state and local taxing authorities. The effective tax rate on adjusted earnings1 was 27.5 percent, a decrease of 0.8 percentage points when compared with 28.3 percent in last year's first quarter. The change was primarily due to reduced interest on uncertain tax positions.Diluted EPS for the first quarter of 2026 increased 54 percent to $3.66 compared to the first quarter of 2025. Adjusted diluted EPS1 of $3.70 increased 48 percent compared to 2025 first quarter results.Business Segment Information:Table 2


Total Revenues Less Cost of Revenues by Business Segment (in millions)                        1Q261Q25ChangeOptions$           467.6$           352.433 %North American Equities111.294.618 %Europe and Asia Pacific84.964.132 %Futures35.832.89 %Global FX29.421.338 %Total$           728.9$           565.229 %

(1) A full reconciliation of our non-GAAP results to our GAAP results is included in the attached tables. See "Non-GAAP Information" in the accompanying financial tables.(2) See the attached tables on page 10 for "Net Revenue by Revenue Caption."Discussion of Results by Business Segment:Options:Record Options net revenue of $467.6 million was up $115.2 million, or 33 percent, from the first quarter of 2025. Net transaction and clearing fees1 increased primarily as a result of a 10 percent increase in total options average daily volume ("ADV"), coupled with a 21 percent increase in multi-listed options revenue per contract ("RPC") versus the first quarter of 2025. Market data fees were 31 percent higher and access and capacity fees were 21 percent higher as compared to the first quarter of 2025.Net transaction and clearing fees1 increased $106.6 million, or 34 percent, reflecting a 29 percent increase in index options ADV and a 4 percent increase in multi-listed options ADV. Total options RPC increased 19 percent compared to the first quarter of 2025. The increase in total options RPC was primarily due to a 21 percent increase in multi-listed options RPC and a mix shift, with index options representing a higher percentage of total options volume.Cboe's Options exchanges had total market share of 29.1 percent for the first quarter of 2026, down compared to 31.1 percent in the first quarter of 2025.North American (N.A.) Equities:Record N.A. Equities net revenue of $111.2 million increased $16.6 million, or 18 percent, from the first quarter of 2025, reflecting higher net transaction and clearing fees1, access and capacity fees, and market data fees.Net transaction and clearing fees1 increased $10.7 million, or 40 percent, compared to the first quarter of 2025. The increase was driven by stronger industry volumes and improved net capture rates for on-exchange U.S. Equities exchanges versus the first quarter of 2025.Cboe's U.S. Equities exchanges had market share of 9.8 percent for the first quarter of 2026, down compared to 10.5 percent in the first quarter of 2025. Cboe's U.S. Equities off-exchange market share was 17.0 percent, down from 17.1 percent in the first quarter of 2025.Europe and Asia Pacific (APAC):Record Europe and APAC net revenue of $84.9 million increased $20.8 million, or 32 percent, from the first quarter of 2025, reflecting growth in net transaction and clearing fees1 and non-transaction revenues. On a constant currency basis2, net revenue was $76.7 million, up 20 percent on a year-over-year basis. European Equities average daily notional value ("ADNV") traded on Cboe European Equities was €17.3 billion, up 25 percent compared to the first quarter of 2025 given a 21 percent increase in industry market volumes. Cboe Clear Europe net settlement volume reached 3,931.2 thousand shares, up 23 percent from the first quarter of 2025.For the first quarter of 2026, Cboe European Equities had 25.5 percent market share, up from 24.8 percent in the first quarter of 2025.Futures:Futures net revenue of $35.8 million increased $3.0 million, or 9 percent, from the first quarter of 2025 driven by an 11 percent increase in net transaction and clearing fees1.Net transaction and clearing fees1 increased $2.7 million, reflecting a 14 percent increase in ADV during the quarter.Global FX:Record Global FX net revenue of $29.4 million increased $8.1 million, or 38 percent, from the first quarter of 2025. The increase was due to higher net transaction and clearing fees1. ADNV traded on the Cboe FX platform was $70.4 billion for the quarter, up 36 percent compared to last year's first quarter, and net capture rate per one million dollars traded was $2.87 for the first quarter of 2026, up 4 percent compared to $2.77 in the first quarter of 2025.(1) See the attached tables on page 10 for "Net Transaction and Clearing Fees by Business Segment."(2) A full reconciliation of our non-GAAP results to our GAAP results is included in the attached tables. See "Non-GAAP Information" in the accompanying financial tables.2026 Fiscal Year Financial Guidance1Cboe provided guidance for the 2026 fiscal year as noted below.Organic total net revenue growth2 is expected to be in the 'low double-digit to mid-teens' range, up from prior guidance of 'mid single-digit' in 2026.Organic net revenue growth2 from Data Vantage is expected to be in the 'low double-digit' range, up from prior guidance of 'mid to high single-digit' in 2026.Adjusted operating expenses2 in 2026 are expected to be in the range of $838 to $853 million, down from $864 to $879 million. Our 2026 guidance incorporates roughly $20 to $25 million of expected savings in 2026 as a result of the additional actions related to the strategic realignment. The guidance excludes the expected amortization of acquired intangible assets of $63 million; the company adjusts for this amount in its non-GAAP reconciliation.Reaffirms depreciation and amortization expense for 2026 is expected to be in the range of $56 to $60 million, excluding the expected amortization of acquired intangible assets.Reaffirms the effective tax rate on adjusted earnings2 for the full year 2026 is expected to be in the range of 27.5 to 29.5 percent. Significant changes in trading volume, expenses, tax laws or rates, and other items could materially impact this expectation.Reaffirms capital expenditures for 2026 are expected to be in the range of $73 to $83 million.(1) 2026 guidance includes the anticipated impacts from discontinuing U.S. and European Corporate Listings, CEDX, and Cboe's Japanese equities business, as well as the planned cost reductions in U.S. and European ETP Listings businesses and several of Cboe's smaller Risk and Market Analytics businesses, as announced in 2025 and early 2026. 2026 guidance also includes the anticipated business-as-usual financial contribution from Cboe Canada and Cboe Australia, which Cboe announced divestiture plans for in October 2025. 2026 guidance will be updated as further actions are announced.(2) Specific quantifications of the amounts that would be required to reconcile the company's organic and inorganic growth guidance, adjusted operating expenses guidance, and the effective tax rate on adjusted earnings guidance are not available. Acquisitions are considered organic after 12 months of closing. The company believes that there is uncertainty and unpredictability with respect to certain of its GAAP measures, primarily related to acquisition-related revenues and costs that would be required to reconcile to GAAP revenues less cost of revenues, and GAAP operating expenses, which preclude the company from providing accurate guidance on certain forward-looking GAAP to non-GAAP reconciliations. The company believes that providing estimates of the amounts that would be required to reconcile the range of the company's organic growth, adjusted operating expenses, and the effective tax rate on adjusted earnings would imply a degree of precision that would be confusing or misleading to investors for the reasons identified above.Capital ManagementAt March 31, 2026, the company had cash and cash equivalents of $2,134.4 million and adjusted cash3 of $2,134.9 million. Total debt as of March 31, 2026 was $1,443.4 million.The company paid cash dividends of $75.8 million, or $0.72 per share, during the first quarter of 2026 and utilized $45.1 million to repurchase approximately 161 thousand shares of its common stock under its share repurchase program at an average price of $280.20 per share. As of March 31, 2026, the company had approximately $569.4 million of availability remaining under its existing share repurchase authorizations.Earnings Conference CallExecutives of Cboe Global Markets will host a conference call to review its first quarter financial results today, May 1, 2026, at 8:30 a.m. ET/7:30 a.m. CT. The conference call and any accompanying slides will be publicly available via live webcast from the Investor Relations section of the company's website at www.cboe.com, under Events & Presentations. Participants may also listen via telephone by dialing (800) 715-9871 (toll-free) or (646) 307-1963 (toll) and using the Conference ID 8939587. Telephone participants should place calls 10 minutes prior to the start of the call. The webcast will be archived on the company's website for replay.(3) A full reconciliation of our non-GAAP results to our GAAP results is included in the attached tables. See "Non-GAAP Information" in the accompanying financial tables.About Cboe Global MarketsCboe Global Markets, Inc. is a leading global markets operator with a long history of innovation in equities derivatives. Since launching the world's first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world's leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more about Cboe, visit www.cboe.com. Cautionary Statements Regarding Forward-Looking InformationThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as "may," "might," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," or "continue," and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions, or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties, and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price and new products and services competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees, or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our business and operational dependence on and exposure to risk from third parties; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our global operations, growth, and strategic acquisitions, wind-downs, divestitures or alliances effectively; increases in the cost of the products and services we use; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, liquidity, market, investment, counterparty, and default risks, associated with operating our clearinghouses; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing our business interests and our regulatory responsibilities; the loss of key customers or a significant reduction in trading or clearing volumes by key customers; separate from and not integrated with our registered national securities exchanges; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments, or intangible assets; the accuracy of our estimates and expectations; and litigation risks and other liabilities. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2025 and other filings made from time to time with the SEC.We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.The condensed consolidated statements of income and balance sheets are unaudited and subject to revision.Cboe Media Contacts:


Analyst Contact:Angela Tu
Tim Cave
Kenneth Hill, CFA(646) 856-8734
+44 (0) 7593-506-719
(312) 786-7559atu@cboe.com 
tcave@cboe.com 
khill@cboe.com CBOE-FTrademarks:Cboe®, Cboe Global Markets®, Cboe Volatility Index®, Cboe Clear®, Cboe Datashop®, BIDS Trading®, BZX®, BYX®, EDGX®, EDGA®, and VIX® are registered trademarks and Cboe Data VantageSM is a service mark of Cboe Global Markets, Inc. and its subsidiaries. All other trademarks and service marks are the property of their respective owners.Cboe Global Markets, Inc.Key Performance Statistics by Business Segment

1Q 20264Q 20253Q 20252Q 20251Q 2025Options




Total industry ADV (in thousands)68,89466,60860,79857,20358,444Total Company Options ADV (in thousands):20,07619,41918,77517,30118,183Multi-listed options13,94013,96513,91112,61513,412Index options6,1365,4544,8644,6864,771Total Options Market Share:29.1 %29.2 %30.9 %30.2 %31.1 %Multi-listed options22.3 %22.9 %24.9 %24.0 %25.0 %Total Options RPC:$        0.343$        0.317$        0.281$        0.300$        0.287Multi-listed options$        0.080$        0.075$        0.055$        0.068$        0.066Index options$        0.940$        0.938$        0.926$        0.923$        0.908





North American Equities




U.S. Equities - Exchange:




Total industry ADV (shares in billions)20.018.617.618.415.7Market share %9.8 %9.4 %9.8 %10.5 %10.5 %Net capture (per 100 touched shares)$        0.017$        0.018$        0.015$        0.012$        0.014U.S. Equities - Off-Exchange:




ADV (touched shares, in millions)249.2197.0202.3125.590.6Off-Exchange ATS block market share % (reported on a one-month lag)17.0 %17.0 %17.9 %14.9 %17.1 %Net capture (per 100 touched shares)$        0.063$        0.064$        0.064$        0.082$        0.117Canadian Equities:




ADV (matched shares, in millions)215.8195.9163.8150.6159.6Total market share %12.5 %12.7 %12.5 %12.7 %13.8 %Net capture (per 10,000 shares, in Canadian dollars)$        4.329$        3.962$        4.142$        4.222$        4.250





Europe and Asia Pacific




European Equities:




Total industry ADNV (Euros - in billions)€          67.8€          49.1€          46.1€          54.5€          55.8Market share %25.5 %24.8 %25.4 %25.1 %24.8 %Net capture (per matched notional value (bps), in Euros)€        0.272€        0.278€        0.288€        0.261€        0.252Cboe Clear Europe:




Trades cleared (in thousands)434,717.3322,339.2329,293.1400,935.8412,072.2Fee per trade cleared (in Euros)€        0.009€        0.010€        0.010€        0.008€        0.008Net settlement volume (shares in thousands)3,931.23,603.73,541.93,289.33,200.7Net fee per settlement (in Euros)€        1.044€        1.113€        1.015€        0.956€        0.951Australian Equities:




ADNV (Australian Dollars - in billions)$            1.2$            1.0$            1.0$            1.0$            0.8Market share % - Continuous20.6 %20.6 %20.6 %20.0 %19.4 %Net capture (per matched notional value (bps), in Australian dollars)$        0.208$        0.207$        0.206$        0.160$        0.156





Futures




ADV (in thousands)283.3239.2200.7220.5249.4RPC$        1.649$        1.717$        1.745$        1.691$        1.740





Global FX




ADNV ($ - in billions)$          70.4$          53.3$          49.9$          55.9$          51.9Net capture (per one million dollars traded)$          2.87$          2.95$          2.89$          2.81$          2.77
Note, in the second quarter of 2025, Digital futures products were transitioned to Cboe Futures Exchange. Futures metrics prior to the second quarter of 2025
exclude Digital futures products.ADV = average daily volume; ADNV = average daily notional value.RPC, average revenue per contract, for options and futures, represents total net transaction fees recognized for the period divided by total contracts traded during the period.Touched volume represents the total number of shares of equity securities and ETFs internally matched on our exchanges or routed to and executed on an external market center.Matched volume represents the total number of shares of equity securities and ETFs executed on our exchanges.U.S. Equities - Exchange, "net capture per 100 touched shares" refers to transaction fees less liquidity payments and routing and clearing costs divided by the product of one-hundredth ADV of touched shares on BZX, BYX, EDGX and EDGA and the number of trading days. U.S. Equities - Off-Exchange data reflects BIDS Trading. For U.S. Equities - Off-Exchange, "net capture per 100 touched shares" refers to transaction fees less order and execution management system (OMS/EMS) fees and clearing costs divided by the product of one-hundredth ADV of touched shares on BIDS Trading and the number of trading days for the period.Canadian Equities, "net capture per 10,000 shares" refers to transaction fees divided by the product of one-ten thousandth ADV of shares for Cboe Canada and the number of trading days. Total market share represents Cboe Canada volume divided by the total volume of the Canadian Equities market.European Equities, "net capture per matched notional value" refers to transaction fees less liquidity payments in Euros divided by the product of ADNV in Euros of shares matched on Cboe Europe Equities and the number of trading days. "Trades cleared" refers to the total number of non-interoperable trades cleared, "Fee per trade cleared" refers to clearing fees divided by number of non-interoperable trades cleared, "Net settlement volume" refers to the total number of settlements executed after netting, and "Net fee per settlement" refers to settlement fees less direct costs incurred to settle divided by the number of settlements executed after netting.Australian Equities data reflects data from Cboe Australia. Australian Equities, "net capture per matched notional value" refers to transaction fees less liquidity payments in Australian dollars divided by the product of ADNV in Australian dollars of shares matched on Cboe Australia and the number of Australian Equities trading days.Global FX, "net capture per one million dollars traded" refers to transaction fees less liquidity payments, if any, divided by the Spot and SEF products of one-thousandth of ADNV traded on the Cboe FX Markets and the number of trading days, divided by two, which represents the buyer and seller that are both charged on the transaction.Average transaction fees per contract can be affected by various factors, including exchange fee rates, volume-based discounts, and transaction mix by contract type and product type.Cboe Global Markets, Inc. and SubsidiariesCondensed Consolidated Statements of Income (Unaudited)Three Months Ended March 31, 2026 and 2025


Three Months Ended March 31,(in millions, except per share amounts)
2026
2025Revenues:



Cash and spot markets
$           482.2
$           500.9Data Vantage
181.3
152.5Derivatives markets
609.3
541.6Total Revenues
1,272.8
1,195.0Cost of Revenues:



Liquidity payments
446.1
394.8Routing and clearing
20.0
19.6Regulatory fees cost of revenues
—
153.1Royalty fees and other cost of revenues
77.8
62.3Total Cost of Revenues
543.9
629.8Revenues Less Cost of Revenues
728.9
565.2Operating Expenses:



Compensation and benefits
127.9
116.2Depreciation and amortization
29.5
30.3Technology support services
27.6
25.6Professional fees and outside services
18.3
20.8Travel and promotional expenses
8.0
6.4Facilities costs
6.2
6.2Acquisition-related costs
—
0.2Other expenses
5.8
5.6Total Operating Expenses
223.3
211.3Operating Income
505.6
353.9Non-operating Income (Expenses):



Interest expense
(13.3)
(12.8)Interest income
17.7
8.4Loss on investments, net
(0.7)
(3.3)Other income, net
6.2
4.0Total Non-operating Income (Expenses)
9.9
(3.7)Income Before Income Tax Provision
515.5
350.2Income tax provision
129.8
99.6Net Income
385.7
250.6Net income allocated to participating securities
(1.6)
(1.2)Net Income Allocated to Common Stockholders
$           384.1
$           249.4Net Income Per Share Allocated to Common Stockholders:                                                                                         



Basic earnings per share
$             3.67
$             2.38Diluted earnings per share
3.66
2.37Weighted average shares used in computing income per share:



Basic
104.7
104.7Diluted
105.0
105.1 Cboe Global Markets, Inc. and SubsidiariesCondensed Consolidated Balance Sheets (Unaudited)March 31, 2026 and December 31, 2025
(in millions)March 31,
2026
December 31,
2025Assets


Current assets:


Cash and cash equivalents$          2,134.4
$          2,216.5Financial investments35.9
36.1Accounts receivable, net514.6
391.4Margin deposits, default fund, and interoperability fund                                                                                                        3,443.9
1,618.2Income taxes receivable—
67.9Other current assets95.3
91.3Total current assets6,224.1
4,421.4



Investments31.4
32.4Property and equipment, net137.4
133.1Operating lease right of use assets105.1
111.0Goodwill3,142.4
3,150.5Intangible assets, net1,274.6
1,297.2Other assets, net155.6
159.7Total assets$        11,070.6
$          9,305.3



Liabilities and Stockholders' Equity


Current liabilities:


Accounts payable and accrued liabilities$             332.8
$             686.9Current portion of long-term debt649.5
—Section 31 fees payable0.2
0.2Deferred revenue16.8
6.9Margin deposits, default fund, and interoperability fund3,443.9
1,618.2Income taxes payable50.4
50.1Total current liabilities4,493.6
2,362.3



Long-term debt793.9
1,442.9Non-current unrecognized tax benefits22.0
15.8Deferred income taxes233.0
185.3Non-current operating lease liabilities114.6
120.9Other non-current liabilities40.0
39.8Total liabilities5,697.1
4,167.0



Stockholders' Equity:


Preferred stock—
—Common stock1.0
1.0Treasury stock, at cost(75.1)
(1.5)Additional paid-in capital1,583.0
1,565.1Retained earnings3,853.5
3,543.6Accumulated other comprehensive income, net11.1
30.1Total stockholders' equity5,373.5
5,138.3



Total liabilities and stockholders' equity$        11,070.6
$          9,305.3 Table 3Net Transaction and
Clearing Fees by
Business Segment
Three Months Ended
March 31, 2026 and 2025
(in millions)Consolidated
March 31,Options
March 31,N.A. Equities
March 31,Europe and APAC
March 31,Futures
March 31,Global FX
March 31,202620252026202520262025202620252026202520262025Transaction and clearing fees$  1,026.4$  832.6$  559.2$  464.5$  342.0$  271.7$   68.6$   50.8$   30.3$   27.1$   26.3$   18.5Liquidity payments(446.1)(394.8)(135.2)(146.8)(295.9)(235.3)(13.1)(11.3)(1.9)(1.4)——Routing and clearing(20.0)(19.6)(4.0)(4.3)(8.6)(9.6)(6.7)(5.3)——(0.7)(0.4)Net transaction and
clearing fees$     560.3$  418.2$  420.0$  313.4$   37.5$   26.8$   48.8$   34.2$   28.4$   25.7$   25.6$   18.1 Table 4Net Revenue by Revenue CaptionThree Months Ended March 31, 2026 and 2025              
(in millions)Cash and Spot Markets
March 31,Data Vantage
March 31,Derivatives Markets
March 31,Total
March 31,20262025202620252026202520262025Transaction and clearing fees$    436.9$    341.0$         —$         —$   589.5$   491.6$  1,026.4$   832.6Access and capacity fees——113.297.8——113.297.8Market data fees15.715.767.154.09.08.191.877.8Regulatory fees0.3120.7——10.141.110.4161.8Other revenue29.323.51.00.70.70.831.025.0Total revenues$    482.2$    500.9$   181.3$     152.5$   609.3$   541.6$  1,272.8$  1,195.0








Liquidity payments$    308.6$    245.7$         —$         —$   137.5$   149.1$   446.1$   394.8Routing and clearing15.915.3——4.14.320.019.6Regulatory fees cost of revenues—120.6———32.5—153.1Royalty fees and other cost of revenues15.012.63.53.159.346.677.862.3Total cost of revenues$    339.5$    394.2$        3.5$        3.1$   200.9$   232.5$   543.9$   629.8








Net revenue$    142.7$    106.7$   177.8$     149.4$   408.4$   309.1$   728.9$   565.2Non-GAAP InformationIn addition to disclosing results determined in accordance with GAAP, Cboe Global Markets has disclosed certain non-GAAP measures of operating performance. These measures are not in accordance with, or a substitute for, GAAP, and may be different from or inconsistent with non-GAAP financial measures used by other companies. The non-GAAP measures provided in this press release include adjusted operating expenses, adjusted operating income, adjusted operating margin, adjusted net income allocated to common stockholders, adjusted diluted earnings per share, effective tax rate on adjusted earnings, adjusted income before income taxes, operating EBITDA, operating EBITDA margin, adjusted operating EBITDA, adjusted operating EBITDA margin, EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, adjusted cash, and net revenue in constant currency.Management believes that the non-GAAP financial measures presented in this press release provide additional and comparative information to assess trends in our core operations and a means to evaluate period-to-period comparisons. Non-GAAP financial measures disclosed by management are provided as additional information to investors in order to provide them with an alternative method for assessing our financial condition and operating results.The tables below show the reconciliation of each financial measure from GAAP to non-GAAP. The non-GAAP financial measures exclude the impact of those items detailed below and are referred to as adjusted financial measures. Reconciliation of GAAP and Non-GAAP Information
Table 5
Three Months EndedMarch 31,(in millions, except percentages and per share amounts)
2026
2025Reconciliation of Net Income Allocated to Common S
tockholders to Non-GAAP (As shown on Table 1)



Net income allocated to common stockholders
$          384.1
$          249.4Non-GAAP adjustments



Acquisition-related costs (1)
—
0.2Amortization of acquired intangible assets (2)
16.7
18.4Business realignment costs (3)
5.1
0.3Executive compensation adjustment (4)
0.6
—Non-operating investment adjustments, net (5)
(0.1)
(0.4)Total Non-GAAP adjustments
22.3
18.5Income tax expense related to the items above
(6.1)
(4.7)Deferred tax re-measurements (6)
(0.6)
—Tax reserves (6)
(11.4)
—Net income allocated to participating securities - effect on reconciling items                                                                 
(0.1)
(0.1)Adjusted earnings
$          388.2
$          263.1




Reconciliation of Diluted EPS to Non-GAAP



Diluted earnings per common share
$            3.66
$            2.37Per share impact of non-GAAP adjustments noted above
0.04
0.13Adjusted diluted earnings per common share
$            3.70
$            2.50




Reconciliation of Operating Margin to Non-GAAP



Revenues less cost of revenues
$          728.9
$          565.2Operating expenses (7)
$          223.3
$          211.3Non-GAAP adjustments noted above
22.4
18.9Adjusted operating expenses
$          200.9
$          192.4Operating income
$          505.6
$          353.9Non-GAAP adjustments noted above
22.4
18.9Adjusted operating income
$          528.0
$          372.8Adjusted operating margin (8)
72.4 %
66.0 %




Reconciliation of Income Tax Rate to Non-GAAP



Income before income taxes
$          515.5
$          350.2Non-GAAP adjustments noted above
22.3
18.5Adjusted income before income taxes
$          537.8
$          368.7




Income tax expense
$          129.8
$            99.6Non-GAAP adjustments noted above
18.1
4.7Adjusted income tax expense
$          147.9
$          104.3Adjusted income tax rate
27.5 %
28.3 %

(1)This amount includes acquisition-related costs primarily from the Company's Cboe Digital, Cboe Canada, and Cboe Asia Pacific acquisitions, which
are included in acquisition-related costs on the condensed consolidated statements of income.(2)This amount represents the amortization of acquired intangible assets related to the Company's acquisitions, which is included in depreciation and
amortization on the condensed consolidated statements of income.(3)This amount represents certain business realignment costs related to announced business realignment initiatives. For the three months ended March
31, 2026, the costs included $1.6 million in compensation and benefits, $1.8 million in technology support services, $1.5 million in professional fees
and outside services, and $0.2 million in other expenses, respectively, on the condensed consolidated statements of income. For the three months
ended March 31, 2025, the costs included $0.3 million in compensation and benefits on the condensed consolidated statements of income.(4)This amount represents the CEO sign-on long-term equity awards granted in 2025 with a grant date value of $6.0 million (comprised of a mixture of
time and performance-based awards) that are subject to a 3-year cliff vesting requirement associated with the hiring of Craig Donohue as Chief
Executive Officer, which is included in compensation and benefits on the condensed consolidated statements of income. This amount does not include
the CEO's annual long-term equity incentive awards that were prorated for 2025.(5)This amount represents net gains and losses associated with the PYTH token intangible assets and from the Company's minority investments in Abaxx
Singapore Pte and American Financial Exchange, LLC, which are included in loss on investments, net on the condensed consolidated statements of
income.(6)These amounts represent the tax impact related to resolution of uncertain tax positions for the three months ended March 31, 2026.(7)The company sponsors deferred compensation plans held in a trust. The expenses or income related to the deferred compensation plans are included
in compensation and benefits ($0.4 million and $12.4 million in expense for the three months ended March 31, 2026 and 2025, respectively) and are
directly offset by deferred compensation income and expenses included in loss on investments, net, and dividends included in other income, net ($0.4
million and $12.4 million in income, expense, and dividends in the three months ended March 31, 2026 and 2025, respectively) on the condensed
consolidated statements of income. The deferred compensation plans' expenses are not excluded from adjusted operating expenses and do not have
an impact on income before income taxes.(8)Adjusted operating margin represents adjusted operating income divided by revenues less cost of revenues.EBITDA ReconciliationsEBITDA (earnings before interest, income taxes, depreciation and amortization) and Adjusted EBITDA are widely used non-GAAP financial measures of operating performance. These metrics are presented as supplemental information that the company believes are useful to investors to evaluate the company's results because they exclude certain items that are not directly related to the company's core operating performance. Operating EBITDA is calculated by adding back to operating income depreciation and amortization. Adjusted Operating EBITDA is calculated by adding back to Operating EBITDA relevant adjustments. Operating EBITDA margin represents Operating EBITDA divided by revenues less cost of revenues. Adjusted Operating EBITDA margin represents Adjusted Operating EBITDA divided by revenues less cost of revenues. EBITDA is calculated by adding back to net income interest (income) expense, net, income tax expense, and depreciation and amortization. EBITDA margin represents EBITDA divided by revenues less cost of revenues. Adjusted EBITDA is calculated by adding back to EBITDA relevant adjustments. Adjusted EBITDA margin represents Adjusted EBITDA divided by revenues less cost of revenues. Relevant adjustments are detailed in the reconciliations that follow. Operating EBITDA, Adjusted Operating EBITDA, EBITDA, and Adjusted EBITDA should not be considered as substitutes either for net income, as an indicator of the company's operating performance, or for cash flow as a measure of the company's liquidity. In addition, because Operating EBITDA, Operating EBITDA margin, Adjusted Operating EBITDA, Adjusted Operating EBITDA margin, EBITDA, EBITDA margin, Adjusted EBITDA, and Adjusted EBITDA margin may not be calculated identically by all companies, the presentation here may not be comparable to other similarly titled measures of other companies.Table 6
Three Months Ended(in millions, except percentages)
March 31,Reconciliation of Operating Income to Operating EBITDA and Adjusted Operating EBITDA
(Per Table 1)
2026
2025Operating income
$           505.6
$           353.9Depreciation and amortization
29.5
30.3Operating EBITDA
$           535.1
$           384.2Operating EBITDA Margin
73.4 %
68.0 %




Non-GAAP adjustments not included in above line items



Acquisition-related costs
$                —
$               0.2Business realignment costs
5.1
0.3Executive compensation adjustment
0.6
—Adjusted Operating EBITDA
$           540.8
$           384.7Adjusted Operating EBITDA Margin
74.2 %
68.1 %


Reconciliation of Net Income Allocated to Common Stockholders to EBITDA and
Adjusted EBITDA (Per Table 1)
2026
2025Net income allocated to common stockholders
$           384.1
$           249.4Interest (income) expense, net
(4.4)
4.4Income tax provision
129.8
99.6Depreciation and amortization
29.5
30.3EBITDA
$           539.0
$           383.7EBITDA Margin
73.9 %
67.9 %




Non-GAAP adjustments not included in above line items



Acquisition-related costs
—
0.2Business realignment costs
5.1
0.3Executive compensation adjustment
0.6
—Non-operating investment adjustments, net
(0.1)
(0.4)Adjusted EBITDA
$           544.6
$           383.8Adjusted EBITDA Margin
74.7 %
67.9 %

Table 7(in millions)
March 31,
December 31,Reconciliation of Cash and Cash Equivalents to Adjusted Cash
2026
2025Cash and cash equivalents
$        2,134.4
$        2,216.5Financial investments
35.9
36.1Less deferred compensation plan assets
(35.4)
(35.8)Adjusted Cash
$        2,134.9
$        2,216.8

Table 8(in millions)
Three Months Ended
March 31,Reconciliation of GAAP Net Revenue to Net Revenue in Constant Currency                                                    
2026
2025Europe and Asia Pacific net revenue
$             84.9
$             64.1Constant currency adjustment
(8.2)
—Europe and Asia Pacific net revenue in constant currency1
$             76.7
$             64.1
(1) Net revenue in constant currency is calculated by converting the current period GAAP net revenue in local currency using the foreign
currency exchange rates that were in effect during the previous comparable period. 



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Original: Cboe Global Markets Reports Results for First Quarter 2026 and Continued Execution of Strategic Realignment

Cboe Announces Agreement to Sell Cboe Australia and Cboe Canada to TMX GroupApril 22, 2026 6:00 AM
PR Newswire (US)

CHICAGO, April 22, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity derivatives, today announced that it has reached a definitive agreement to sell its Canadian and Australian equities exchanges, Cboe Canada and Cboe Australia, to TMX Group Limited (TMX Group), a leading market operator. The aggregate sale price is $300 million USD.







Cboe announced plans in October 2025 to sell its Australian and Canadian equities businesses as part of a strategic realignment to sharpen its strategic focus on core strengths and emerging opportunities aligned with its long-term strategy – positioning the company to lead in a dynamic and evolving global markets landscape."We are pleased to reach an agreement to sell these businesses to TMX Group, a longstanding and well-established market operator," said Craig Donohue, Chief Executive Officer of Cboe Global Markets. "The transaction will bring Cboe Australia and Cboe Canada under new ownership well suited to support their next chapter, while enabling Cboe to reallocate resources and capital towards optimizing our core businesses for further growth and profitability, and pursuing opportunities in new and emerging areas.""This transaction marks an important milestone in our strategic realignment, allowing us to sharpen our focus on the growth opportunities that will position Cboe for long-term success," said Prashant Bhatia, EVP, Head of Enterprise Strategy & Corporate Development at Cboe Global Markets. "As our industry undergoes rapid transformation – driven by expanding retail participation and rising demand for innovative products, the emergence of event and prediction markets, the accelerating adoption of digital assets and tokenization, and the evolution toward 24x7, on-chain markets with atomic settlement – we see significant opportunity to build on our strengths and accelerate growth by focusing on areas where we can lead and differentiate."The transaction is subject to customary closing conditions, including applicable regulatory approvals. The acquisitions of Cboe Australia and Cboe Canada are expected to close separately, each after required approvals have been obtained.Until the transactions close, Cboe will continue to operate both exchanges as usual. Cboe will work closely with customers, regulators, and other key stakeholders in both jurisdictions to support a smooth and orderly transition. Additionally, Cboe will provide transition services support for a limited time post closing.Cboe will provide an update regarding the potential financial implications of the transaction during its first quarter earnings call taking place on Friday, May 1, 2026.Barclays Capital Inc. is acting as financial advisor to Cboe. Sidley Austin LLP; Blake, Cassels & Graydon LLP; and Mallesons are serving as Cboe's outside legal counsel. About Cboe Global MarketsCboe Global Markets (Cboe: CBOE) is a leading global markets operator with a long history of innovation in equity derivatives. Since launching the world's first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world's leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more, visit www.cboe.com.Cboe Media Contacts
Cboe Analyst ContactAngela Tu+1-646-856-8734 atu@cboe.comTim Cave +44 (0) 7593-506-719 tcave@cboe.comStephanie Duncan+61 403 691 275sduncan@cboe.com
Kenneth Hill, CFA +1-312-786-7559 khill@cboe.com CBOE-C
CBOE-OECboe®, Cboe Global Markets®, and VIX ® are registered trademarks or service marks of Cboe Exchange, Inc and S&P 500® is a registered trademark of Standard & Poor's Financial Services LLC. All other trademarks and service marks are the property of their respective owners. Cautionary Statements Regarding Forward-Looking InformationThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as "may," "might," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price and new products and services competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our business and operational dependence on and exposure to risk from third parties; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our global operations, growth, and strategic acquisitions, wind downs, divestitures, or alliances effectively; increases in the cost of the products and services we use; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, liquidity, market, investment, counterparty, and default risks, associated with operating our  clearinghouses; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing our business interests and our regulatory responsibilities; the loss of key customers or a significant reduction in trading or clearing volumes by key customers; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; the accuracy of our estimates and expectations; and litigation risks and other liabilities. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2025 and other filings made from time to time with the SEC.We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. 



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Original: Cboe Announces Agreement to Sell Cboe Australia and Cboe Canada to TMX Group

Cboe Global Markets Reports Trading Volume for March 2026April 6, 2026 4:30 PM
PR Newswire (US)

CHICAGO, April 6, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity derivatives, today reported March trading volume statistics across its global business lines and provided guidance for selected revenue per contract/net revenue capture metrics for the first quarter of 2026.







The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of certain March trading statistics and market share by business segment, volume in select index products, and RPC/net capture, which is reported on a one-month lag, across business lines.Average Daily Trading Volume (ADV) by Month Year-To-Date








Mar2026Mar2025%ChgFeb
2026%  
ChgMar2026Mar2025%  
ChgMulti-listed options (contracts, k)14,20313,5295.0 %13,4765.4 %13,94013,4123.9 %Index options (contracts, k)6,8765,27030.5 %5,97315.1 %6,1364,77128.6 %Futures (contracts, k)133828518.4 %27622.1 %28324913.6 %U.S. Equities - On-Exchange (matched shares, mn)2,0481,61726.6 %1,9614.4 %1,9631,64219.6 %U.S. Equities - Off-Exchange (matched shares, mn)24092161.8 %268-10.3 %24991175.1 %Canadian Equities (matched shares, k)203,135153,96131.9 %204,403-0.6 %215,759159,59335.2 %European Equities (€, mn)18,62916,42213.4 %17,9633.7 %17,28113,81825.1 %Australian Equities (AUD, mn)1,26190040.1 %1,2282.6 %1,20082046.3 %Global FX ($, mn)79,86554,78445.8 %63,37226.0 %70,41851,92635.6 %Cboe Clear Europe Cleared Trades (k)169,513157,4117.7 %141,64219.7 %434,717412,0725.5 %Cboe Clear Europe Net Settlements (k)1,4311,13026.7 %1,26613.1 %3,9313,20122.8 %1 In the second quarter of 2025, Digital futures products were transitioned to Cboe Futures Exchange. Futures metrics prior to the second quarter of 2025 exclude Digital futures products.March and First Quarter 2026 Trading Volume Highlights  U.S. Options Cboe's proprietary index options reported several monthly and quarterly ADV records, including:Overall proprietary index options quarterly ADV record of 6.1 million contracts.Overall proprietary index options monthly ADV record of 6.9 million contracts.Quarterly S&P 500 Index (SPX) options ADV record of 4.9 million contracts.Monthly S&P 500 Index (SPX) options ADV record of 5.4 million contracts.Quarterly SPX zero-days-to-expiry (0DTE) ADV record of 3.0 million contracts.Monthly SPX 0DTE ADV record of 3.2 million contracts.Quarterly mini-SPX (XSP) options ADV record of 187 thousand contracts.Monthly XSP options ADV record of 222 thousand contracts.Quarterly and monthly ADV records during Cboe's Global Trading Hours (GTH) session (8:15 p.m. to 9:25 a.m. ET), with a first quarter ADV of 164 thousand contracts and a March ADV of 195 thousand contracts.    Cboe Volatility Index (VIX) options recorded its second-best quarter, with a quarterly ADV of 994 thousand contracts.Multi-listed options trading across Cboe's four U.S. options exchanges delivered its second-best quarter on record, with a quarterly ADV of 13.9 million contracts.Trading on Cboe's trading floor reached record levels in March, with record overall open outcry monthly ADV of 2.2 million and record SPX open outcry monthly ADV of 937 thousand contracts.Cboe's trading floor also achieved record multi-listed options trading activity in the first quarter, with a quarterly ADV of 806 thousand multi-listed contracts.European EquitiesCboe Europe set a record quarterly average daily notional value (ADNV) of €17.3 billion, as well as a new monthly ADNV record of €18.6 billion in March.Cboe Periodic Auctions achieved several records including quarterly ADNV (€6.0 billion), monthly ADNV (€6.4 billion), and a single-day record on March 3 (€9.2 billion).Cboe Closing Cross (3C), Cboe Europe's post-close trading service, achieved a record quarterly ADNV of €379.8 million, including a monthly ADNV record in March of €512 million and single-day record of €2.9 billion on March 20.Global FXIn March, Cboe FX Spot ADNV reached $74.5 billion, an all-time high, and a 42.9% increase versus March 2025.Cboe FX and Cboe SEF (Swap Execution Facility) observed single day records in March, with Cboe FX reaching $109.1 billion on March 3, and Cboe SEF reporting $6.7 billion on March 6.Cboe SEF March ADV topped $5.4 billion, its highest ADV on record, and a 101.9% increase versus March 2025.First-Quarter 2026 RPC/Net Revenue Capture GuidanceThe projected RPC/net capture metrics for the first quarter of 2026 are estimated, preliminary and may change. There can be no assurance that our final RPC for the three months ended March 31, 2026, will not differ materially from these projections.(In USD unless stated otherwise) 
Three-Months Ended   Product1Q
ProjectionFeb-26Jan-26Dec-25 Multi-Listed Options (per contract) $0.079$0.078$0.075$0.075Index Options $0.940$0.945$0.940$0.938Total Options $0.342$0.335$0.326$0.317Futures (per contract) $1.649$1.682$1.712$1.719U.S. Equities - Exchange (per 100 touched shares) $0.017$0.017$0.017$0.018U.S. Equities - Off-Exchange (per 100 touched shares) $0.063$0.067$0.065$0.064Canadian Equities (per 10,000 touched shares) CAD 4.367CAD 4.071CAD 3.973CAD 3.962European Equities (per matched notional value) 0.2760.2780.2760.278Australian Equities (per matched notional value) 0.2070.2080.2080.207Global FX (per one million dollars traded) $2.866$2.941$2.953$2.945Cboe Clear Europe Fee per Trade Cleared € 0.009€ 0.010€ 0.010€ 0.010Cboe Clear Europe Net Fee per Settlement € 1.061€ 1.100€ 1.103€ 1.113The above represents average revenue per contract (RPC) or net capture is based on a three-month rolling average, reported on a one-month lag. Average transaction fees per contract can be affected by various factors, including exchange fee rates, volume-based discounts and transaction mix by contract type and product type.For Options and Futures, the average RPC represents total net transaction fees recognized for the period divided by total contracts traded during the period for options exchanges: BZX Options, Cboe Options, C2 Options and EDGX Options; futures include contracts traded on Cboe Futures Exchange, LLC (CFE).For U.S. Equities, "net capture per 100 touched shares" refers to transaction fees less liquidity payments and routing and clearing costs divided by the product of one-hundredth ADV of touched shares on BZX, BYX, EDGX and EDGA and the number of trading days for the period.For U.S. Equities – Off-Exchange, "net capture per 100 touched shares" refers to transaction fees less OMS/EMS costs and clearing costs divided by the product of one-hundredth ADV of touched shares on BIDS Trading and the number of trading days for the period.For Canadian Equities, "net capture per 10,000 touched shares" refers to transaction fees divided by the product of one-ten thousandth ADV of shares for Cboe Canada and the number of trading days for the period and includes revenue.For European Equities, "net capture per matched notional value" refers to transaction fees less liquidity payments in British pounds divided by the product of ADNV in British pounds of shares matched on Cboe Europe Equities and the number of trading days.For Australian Equities, "net capture per matched notional value" refers to transaction fees less trading fee relief in Australian Dollars divided by the product of ADNV in Australian Dollars of shares matched on Cboe Australia and the number of trading days.For Global FX, "net capture per one million dollars traded" refers to transaction fees less liquidity payments, if any, divided by the Spot and SEF products of one-thousandth of ADNV traded on the Cboe FX Markets and the number of trading days, divided by two, which represents the buyer and seller that are both charged on the transaction.For Cboe Clear Europe, "Fee per Trade Cleared" refers to clearing fees divided by number of non-interoperable trades cleared and "Net Fee per Settlement" refers to settlement fees less direct costs incurred to settle divided by the number of settlements executed after netting.***About Cboe Global MarketsCboe Global Markets (Cboe: CBOE) is a leading global markets operator with a long history of innovation in equity derivatives. Since launching the world's first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world's leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more, visit www.cboe.com. Cboe Media Contacts
Cboe Analyst ContactAngela TuTim Cave
Kenneth Hill, CFA
+1-646-856-8734+44 (0) 7593-506-719
+1-312-786-7559
atu@cboe.com tcave@cboe.com
khill@cboe.com 
CBOE-VCboe®, Cboe Global Markets®, Cboe Clear®, Cboe Futures Exchange®, CFE®, Cboe Volatility Index®, and VIX® are registered trademarks of Cboe Exchange, Inc. or its affiliates. Standard & Poor's®, S&P®, SPX®, and S&P 500® are registered trademarks of Standard & Poor's Financial Services, LLC, and have been licensed for use by Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.Any products that have the S&P Index or Indexes as their underlying interest are not sponsored, endorsed, sold or promoted by Standard & Poor's or Cboe and neither Standard & Poor's nor Cboe make any representations or recommendations concerning the advisability of investing in products that have S&P indexes as their underlying interests. All other trademarks and service marks are the property of their respective owners.Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at:?https://www.cboe.com/us_disclaimers/. Options involve risk and are not suitable for all market participants. Prior to buying or selling an option, a person should review the Characteristics and Risks of Standardized Options (ODD), which is required to be provided to all such persons. Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606. Cautionary Statements Regarding Forward-Looking InformationThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as "may," "might," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price and new products and services competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our business and operational dependence on and exposure to risk from third parties; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our global operations, growth, and strategic acquisitions, wind downs, divestitures, or alliances effectively; increases in the cost of the products and services we use; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, liquidity, market, investment, counterparty, and default risks, associated with operating our  clearinghouses; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing our business interests and our regulatory responsibilities; the loss of key customers or a significant reduction in trading or clearing volumes by key customers; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; the accuracy of our estimates and expectations; and litigation risks and other liabilities. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2025 and other filings made from time to time with the SEC.We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.



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Original: Cboe Global Markets Reports Trading Volume for March 2026

Cboe Global Markets Announces Date of First-Quarter 2026 Earnings Release and Conference CallMarch 17, 2026 4:30 PM
PR Newswire (US)

CHICAGO, March 17, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity derivatives, will announce its financial results for the first quarter of 2026 before the market opens on Friday, May 1, 2026. A conference call with remarks by the company's senior management will begin at 7:30 a.m. CT (8:30 a.m. ET). 







A live audio webcast for the conference call and the presentation that will be referenced during the call will be available on the Investor Relations section of Cboe's website at ir.cboe.com under Events. The presentation will be archived on the company's website for replay. A replay of the recording is expected to be available two hours after the conference call ends. To listen to the live conference call via telephone, please dial (800) 715-9871 (toll-free) or (646) 307-1963 (toll) and use the Conference ID 8939587.About Cboe Global Markets
Cboe Global Markets (Cboe: CBOE) is a leading global markets operator with a long history of innovation in equity derivatives. Since launching the world's first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world's leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more, visit www.cboe.com.Cboe Media Contacts
Cboe Analyst Contact Angela TuTim Cave
Kenneth Hill, CFA
+1-646-856-8734+44 (0) 7593-506-719
+1-312-786-7559
atu@cboe.comtcave@cboe.com
khill@cboe.com
CBOE-C
CBOE-OECboe®, Cboe Global Markets®, and VIX ® are registered trademarks or service marks of Cboe Exchange, Inc and S&P 500® is a registered trademark of Standard & Poor's Financial Services LLC. All other trademarks and service marks are the property of their respective owners.



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Original: Cboe Global Markets Announces Date of First-Quarter 2026 Earnings Release and Conference Call

Cboe Files Proposal with the SEC to Launch Near 24x5 U.S. Equities TradingMarch 16, 2026 3:00 PM
PR Newswire (US)

CHICAGO, March 16, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity derivatives, announced it submitted a proposal to the Securities and Exchange Commission (SEC) to launch near 24x5 U.S. equities trading on its Cboe EDGX Equities Exchange (EDGX). Cboe is preparing to launch in December 2026, pending regulatory approval of its filing, and contingent upon the readiness of required industry infrastructure providers.  







In its filing, Cboe outlines its plans to make all listed NMS stocks available for trading on EDGX from Sunday 9 p.m. ET to Friday 8 p.m. ET, with a one-hour operational pause 8 to 9 p.m. ET Monday through Thursday. This will allow for near 24x5 trading, excluding U.S. market holidays. All trades are planned to be cleared through the Depository Trust and Clearing Corporation (DTCC)."Cboe's filing with the SEC is the latest step in ensuring we are ready to offer overnight trading once the industry launches in December. Since announcing our plans for near 24x5 trading amid growing global interest for U.S. markets, we have been engaging with clients and market participants across the globe, underscoring the importance of collaboration throughout this process," said Oliver Sung, Head of North American Equities at Cboe. "Cboe has a strong track record of operating liquid, around-the-clock derivatives and FX markets, and will leverage that expertise to ensure robust market and investor protections are in place."Demand for U.S. equities outside of traditional trading hours has grown significantly over recent years, evidenced by the growth in Cboe's U.S. Equities Early Trading Hours volumes. Cboe currently offers trading from 4 a.m. ET to 7 a.m. ET on two of its four exchanges, including EDGX, and has seen a 590% average daily volume (ADV) growth from February 2022 to February 2026.Cboe has successfully operated around-the-clock trading through its proprietary index futures and options and its Global FX markets for several years. Trading in Cboe's proprietary index options during Global Trading Hours (8:15 p.m. to 9:25 a.m. ET) is at record levels in 2026, as investors look to hedge positions or reposition as needed, particularly during pre-market news. Cboe FX, which offers a true 24x5 market, operates a follow-the-sun operations model with continuous operational coverage, incident response, and client support across all global time zones.Outside of regulatory approval and infrastructure readiness, critical components to launching overnight trading include increasing market access and the availability of high-quality, real-time data. Cboe continues to expand distribution of its Cboe One U.S. Equities Feed, which offers consolidated, real-time market data from Cboe's four U.S. equities exchanges. In 2025, Cboe's four exchanges accounted for 20.2% of U.S. equities on-exchange trading."Cboe understands that accurate and reliable market data is the foundation for making informed investment decisions," said Brian McElligott, Head of Cboe Data Vantage. "We continue to focus on expanding the availability of our U.S. equities data offerings, reflecting the strong desire for access to U.S. markets from Europe and APAC investors. Whether it's real-time, top-of-book, or historical data, Cboe Data Vantage is helping investors navigate today's markets and prepare for U.S. equities overnight trading."For more information, visit here: Expanding Market Access: Why Cboe Plans to Launch Near 24x5 U.S. Equities Trading this Year.About Cboe Global MarketsCboe Global Markets (Cboe: CBOE) is a leading global markets operator with a long history of innovation in equity derivatives. Since launching the world's first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world's leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more, visit www.cboe.com.Cboe Media Contacts Cboe Analyst Contact


Angela TuTim CaveKenneth Hill, CFA+1-646-856-8734+44 (0) 7593-506-719+1-312-786-7559atu@cboe.comtcave@cboe.comkhill@cboe.comCBOE-C
CBOE-OECboe®, Cboe Global Markets®, and VIX®, are registered trademarks or service marks of Cboe Exchange, Inc and S&P 500® is a registered trademark of Standard & Poor's Financial Services LLC. All other trademarks and service marks are the property of their respective owners.Cautionary Statements Regarding Forward-Looking InformationThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as "may," "might," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price and new products and services competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our business and operational dependence on and exposure to risk from third parties; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our global operations, growth, and strategic acquisitions, wind downs, divestitures, or alliances effectively; increases in the cost of the products and services we use; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, liquidity, market, investment, counterparty, and default risks, associated with operating our  clearinghouses; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing our business interests and our regulatory responsibilities; the loss of key customers or a significant reduction in trading or clearing volumes by key customers; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; the accuracy of our estimates and expectations; and litigation risks and other liabilities. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2025 and other filings made from time to time with the SEC.We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.



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Original: Cboe Files Proposal with the SEC to Launch Near 24x5 U.S. Equities Trading

Cboe to Launch BITVX, A New Volatility Index Based on IBIT OptionsMarch 9, 2026 1:00 PM
PR Newswire (US)

New index designed to measure the 30-day forward-looking volatility of bitcoinApplies Cboe's proprietary VIX® methodology and is based on iShares Bitcoin Trust ETF optionsExpands Cboe's volatility index suite across new asset classesCHICAGO and BOCA RATON, Fla., March 9, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced plans to launch the Cboe IBIT Volatility Index (Ticker: BITVX) on Monday, March 23. This new index will further expand Cboe's growing suite of volatility indices and bring the firm's proprietary VIX® Index methodology to the bitcoin market.







BITVX is designed to measure the market's expectation of 30-day forward-looking volatility for the bitcoin market, as conveyed by options on the iShares Bitcoin Trust ETF (Ticker: IBIT) -- one of the most actively traded U.S. options tied to digital assets. The new index is calculated and administered by Cboe Global Indices, using Cboe's well-established VIX Index methodology, which derives expected volatility directly from option prices rather than from historical returns.The VIX Index, widely regarded as the world's premier barometer of 30-day forward-looking volatility for the U.S. equity market, is based on S&P 500 Index (SPX) options. Consistent with the VIX framework, BITVX aggregates information across a broad range of out-of-the-money option strikes to produce a model-free measure of implied volatility."With the new BITVX Index, we're taking the proven framework of Cboe's VIX Index methodology and applying it to bitcoin, giving the market a transparent, rules-based benchmark for expected volatility derived from IBIT options activity," said Rob Hocking, Global Head of Derivatives at Cboe. "Bitcoin ETF options are a popular way for investors to access and manage bitcoin exposure, and we believe a dedicated volatility index will be an additive piece to the ecosystem, helping investors better analyze, price, and hedge risk in digital assets."Calculation for the BITVX Index is based on weekly Friday expirations of IBIT options, using two maturities that bracket a constant 30-day target horizon. The resulting index reflects the market's consensus expectation of near-term volatility implied by listed IBIT option prices. To learn more about Cboe's indices, visit the website.About Cboe Global Markets
Cboe Global Markets (Cboe: CBOE) is a leading global markets operator with a long history of innovation in equity derivatives. Since launching the world's first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world's leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more, visit www.cboe.com.Cboe Media Contacts
Cboe Analyst ContactAngela Tu
 Tim Cave
Kenneth Hill, CFA+1-646-856-8734
+44 (0) 7593-506-719
+1-312-786-7559atu@cboe.com
tcave@cboe.com
khill@cboe.comCBOE-OECboe® and Cboe Global Markets® are registered trademarks or service marks of Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (ODD). Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606.Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P or the third-party sites referenced in this press release. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice or a recommendation to buy or sell a security, future, or other financial product. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: https://www.cboe.com/us_disclaimers/. Cautionary Statements Regarding Forward-Looking InformationThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as "may," "might," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price and new products and services competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our business and operational dependence on and exposure to risk from third parties; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our global operations, growth, and strategic acquisitions, wind downs, divestitures, or alliances effectively; increases in the cost of the products and services we use; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, liquidity, market, investment, counterparty, and default risks, associated with operating our  clearinghouses; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing our business interests and our regulatory responsibilities; the loss of key customers or a significant reduction in trading or clearing volumes by key customers; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; the accuracy of our estimates and expectations; and litigation risks and other liabilities. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2024 and other filings made from time to time with the SEC.We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. 



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Original: Cboe to Launch BITVX, A New Volatility Index Based on IBIT Options

Cboe Global Markets Reports Trading Volume for February 2026March 4, 2026 4:40 PM
PR Newswire (US)

CHICAGO, March 4, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today reported February monthly trading volume statistics across its global business lines.
The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of certain February trading statistics and market share by business segment, volume in select index products, and RPC/net capture, which is reported on a one-month lag, across business lines.Average Daily Trading Volume (ADV) by Month Year-To-Date








Feb2026Feb2025%ChgJan
 2026% 
 ChgFeb2026Feb2025% 
 ChgMulti-listed options (contracts, k)13,47613,556-0.6 %14,093-4.4 %13,79213,3483.3 %Index options (contracts, k)5,9734,46933.7 %5,4779.1 %5,7194,50327.0 %Futures (contracts, k)127624114.7 %23020.1 %2532309.8 %U.S. Equities - On-Exchange (matched shares, mn)1,9611,67317.2 %1,8724.7 %1,9151,65515.7 %U.S. Equities - Off-Exchange (matched shares, mn)26897176.6 %24111.0 %25490182.7 %Canadian Equities (matched shares, k)204,403166,26122.9 %239,258-14.6 %222,702162,47837.1 %European Equities (€, mn)17,96313,71830.9 %15,21818.0 %16,55712,51632.3 %Australian Equities (AUD, mn)1,22891434.3 %1,04118.1 %1,13477945.6 %Global FX ($, mn)63,37250,69925.0 %67,233-5.7 %65,35050,49729.4 %Cboe Clear Europe Cleared Trades (k)141,642131,7237.5 %123,56214.6 %265,204254,6624.1 %Cboe Clear Europe Net Settlements (k)1,2661,02124.0 %1,2342.6 %2,5002,07120.7 %1 In the second quarter of 2025, Digital futures products were transitioned to Cboe Futures Exchange. Futures metrics prior to the second quarter of 2025 exclude Digital futures products.February 2026 Trading Volume HighlightsU.S. Options Cboe's proprietary index options reported a monthly ADV record of 6.0 million contracts, driven by:Monthly S&P 500 Index (SPX) options ADV record of 4.8 million contracts.Monthly SPX zero-days-to-expiry (0DTE) ADV record of 3.0 million contracts, representing a record 63% of all SPX trading.Monthly mini-SPX (XSP) options ADV record of 186 thousand contracts.Monthly ADV record of 155 thousand contracts during Cboe's Global Trading Hours (GTH) session (8:15 p.m. to 9:25 a.m. ET), including record SPX GTH ADV of 133 thousand contracts.U.S. Equities - Off-ExchangeBIDS Trading reported a monthly ADV record of 267.8 million matched shares.European EquitiesCboe Europe reached a record total monthly average daily notional value (ADNV) of €18.0 billion, including monthly ADNV records in Cboe Periodic Auctions (€6.3 billion) and Cboe BIDS Europe (€969.0 million).About Cboe Global MarketsCboe Global Markets (Cboe: CBOE), the world's leading derivatives and securities exchange network, delivers cutting-edge trading, clearing, and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, and FX across North America, Europe, and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more, visit www.cboe.com.Cboe Media Contacts
Cboe Analyst Contact Angela TuTim Cave
Kenneth Hill, CFA
+1-646-856-8734+44 (0) 7593-506-719
+1-312-786-7559
atu@cboe.comtcave@cboe.com
khill@cboe.com






CBOE-VCboe®, Cboe Global Markets®, Cboe Clear®, Cboe Futures Exchange®, CFE®, Cboe Volatility Index®, and VIX® are registered trademarks of Cboe Exchange, Inc. or its affiliates. Standard & Poor's®, S&P®, SPX®, and S&P 500® are registered trademarks of Standard & Poor's Financial Services, LLC, and have been licensed for use by Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.Any products that have the S&P Index or Indexes as their underlying interest are not sponsored, endorsed, sold or promoted by Standard & Poor's or Cboe and neither Standard & Poor's nor Cboe make any representations or recommendations concerning the advisability of investing in products that have S&P indexes as their underlying interests. All other trademarks and service marks are the property of their respective owners.Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at:?https://www.cboe.com/us_disclaimers/. Options involve risk and are not suitable for all market participants. Prior to buying or selling an option, a person should review the Characteristics and Risks of Standardized Options (ODD), which is required to be provided to all such persons. Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606. Logo - https://mma.prnewswire.com/media/622233/Cboe_GM_New_Logo.jpg 



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Original: Cboe Global Markets Reports Trading Volume for February 2026

Cboe to Present at the Raymond James Institutional Investors Conference on March 2February 24, 2026 4:30 PM
PR Newswire (US)

CHICAGO, Feb. 24, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, announced today that Craig Donohue, Chief Executive Officer, Jill Griebenow, Executive Vice President and Chief Financial Officer, and Rob Hocking, Executive Vice President and Global Head of Derivatives, will present at the Raymond James Institutional Investors Conference in Orlando, Florida on Monday, March 2 at 9:15 a.m. ET.







The live webcast and replay of the presentation will be accessible at ir.cboe.com, under Events and Presentations. The archived webcast is expected to be available within an hour of the presentation.About Cboe Global Markets
Cboe Global Markets (Cboe: CBOE), the world's leading derivatives and securities exchange network, delivers cutting-edge trading, clearing, and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, and FX across North America, Europe, and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more, visit www.cboe.com.Cboe Media Contacts
Cboe Analyst Contact Angela TuTim Cave
Kenneth Hill, CFA
+1-646-856-8734+44 (0) 7593-506-719
+1-312-786-7559
atu@cboe.comtcave@cboe.com
khill@cboe.com
CBOE-C
CBOE-OECboe® and Cboe Global Markets® are registered trademarks of Cboe Exchange, Inc.



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Original: Cboe to Present at the Raymond James Institutional Investors Conference on March 2

Cboe Global Markets Declares First-Quarter 2026 DividendFebruary 13, 2026 4:32 PM
PR Newswire (US)

CHICAGO, Feb. 13, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced its Board of Directors has declared a quarterly cash dividend of $0.72 per share of common stock for the first quarter of 2026. The first-quarter 2026 dividend is payable on March 13, 2026, to stockholders of record as of February 27, 2026.
About Cboe Global Markets
Cboe Global Markets (Cboe: CBOE), the world's leading derivatives and securities exchange network, delivers cutting-edge trading, clearing, and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, and FX across North America, Europe, and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more, visit www.cboe.com.Cboe Media Contacts
Cboe Analyst Contact
Angela TuTim Cave
Kenneth Hill, CFA
+1-646-856-8734+44 (0) 7593-506-719
+1-312-786-7559
atu@cboe.comtcave@cboe.com
khill@cboe.com
CBOE-CCboe® and Cboe Global Markets® are registered trademarks or service marks of Cboe Exchange, Inc.Logo - https://mma.prnewswire.com/media/622233/Cboe_GM_New_Logo.jpg  



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Original: Cboe Global Markets Declares First-Quarter 2026 Dividend

Cboe Launches Nearly 24-Hour Trading in Russell 2000 Index OptionsFebruary 12, 2026 6:30 PM
PR Newswire (US)

Cash-settled Russell 2000® Index (RUT) options now available during Cboe's Global Trading HoursCboe now offers nearly 24x5 trading for RUT, S&P 500 Index and Cboe Volatility Index optionsRUT options and Cboe's Global Trading Hours both reached record volumes in 2025CHICAGO, Feb. 12, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced Russell 2000 Index (RUT) and Russell 2000 Index Weeklys (RUTW) options are now available to trade on the Cboe Options Exchange nearly 24 hours a day, five days a week.
The addition of RUT options to Cboe's Global Trading Hours (GTH) session offers European and Asia Pacific investors the ability to better manage U.S. small-cap exposure and trade during their local daytime hours. Cboe also offers S&P 500 Index (SPX), Mini-SPX (XSP) and Cboe Volatility Index (VIX) options during its GTH session, which experienced record volumes in 2025, up 27% compared to 2024.RUT options saw record demand as investors increasingly turned to cash-settled, European-style options to help manage positioning and implement a broad range of trading strategies. Retail and institutional investors typically utilize RUT options to hedge or express market views, generate yield, or implement zero-days-to-expiry (0DTE) positions. In January, 0DTE trading represented 23% of total RUT options activity, reflecting growing investor demand for short-dated strategies."Cboe remains steadfast in our efforts to expand global access to U.S. markets and empower investors with the flexibility and tools they need to manage today's market environment," said Rob Hocking, Global Head of Derivatives at Cboe. "Demand for Russell 2000 Index options remained elevated as market participants navigated uncertainty, looked to diversify exposure and sought the utility index options can provide. By offering nearly 24-hour RUT trading alongside our SPX and VIX options, global investors can better act on their strategies in real time, regardless of time zone."  Milan Galik, Chief Executive Officer of Interactive Brokers, said: "Interactive Brokers is committed to expanding trading hours across the wide scope of asset classes we offer to our global clientele, as soon as and wherever such expansion is possible. With exchanges like Cboe now enabling 24/5 trading for Russell 2000 Index options, our clients worldwide gain the ability to manage their small-cap options positions around the clock and respond to international market developments in real-time." Shawn Creighton, Director of Index Derivatives Solutions at FTSE Russell, said: "Cboe's decision to introduce nearly 24-hour trading for Russell 2000 Index options is a significant milestone for global investors. As a key benchmark for U.S. small-cap equities, the expansion of Russell 2000 Index options will now offer investors enhanced flexibility to capture opportunities across time zones."On February 25 at 12:30 p.m. ET, Cboe will host a webinar featuring Mandy Xu, Head of Derivatives Market Intelligence at Cboe, and Catherine Yoshimoto, Director of Product Management at FTSE Russell. The discussion will cover the expansion of RUT trading hours, recent RUT options trading trends, and the outlook for small-cap performance and volatility. Visit here to sign up to receive webinar registration details and additional Cboe derivatives insights and analysis.RUT and RUTW options now trade Monday through Friday during Cboe's Regular Trading Hours (RTH) (9:30 a.m. ET to 4:15 p.m. ET), Global Trading Hours (GTH) (8:15 p.m. ET to 9:25 a.m. ET) and Curb Trading Hours (4:15 p.m. to 5:00 p.m. ET).For more information on Cboe's Global Trading Hours, visit Cboe Global Trading Hours.About Cboe Global Markets
Cboe Global Markets (Cboe: CBOE), the world's leading derivatives and securities exchange network, delivers cutting-edge trading, clearing, and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, and FX across North America, Europe, and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more, visit www.cboe.com.Cboe Media Contacts
Cboe Analyst ContactAngela TuTim Cave
Kenneth Hill, CFA+1-646-856-8734+44 (0) 7593-506-719
+1-312-786-7559atu@cboe.comtcave@cboe.com
khill@cboe.comCBOE-OECboe® and Cboe Global Markets® are registered trademarks or service marks of Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (ODD). Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606.Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P or the third-party sites referenced in this press release. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice or a recommendation to buy or sell a security, future, or other financial product. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: https://www.cboe.com/us_disclaimers/. Cautionary Statements Regarding Forward-Looking InformationThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as "may," "might," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price and new products and services competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our business and operational dependence on and exposure to risk from third parties; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our global operations, growth, and strategic acquisitions, wind downs, divestitures, or alliances effectively; increases in the cost of the products and services we use; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, liquidity, market, investment, counterparty, and default risks, associated with operating our  clearinghouses; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing our business interests and our regulatory responsibilities; the loss of key customers or a significant reduction in trading or clearing volumes by key customers; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; the accuracy of our estimates and expectations; and litigation risks and other liabilities. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2024 and other filings made from time to time with the SEC.We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.Logo - https://mma.prnewswire.com/media/622233/Cboe_GM_New_Logo.jpg



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Original: Cboe Launches Nearly 24-Hour Trading in Russell 2000 Index Options

Cboe tops Q4 forecasts as derivatives activity drives record revenueFebruary 6, 2026 10:47 AM
IH Market News
Cboe Global Markets (AMEX:CBOE) reported fourth-quarter results on Friday that came in ahead of expectations, supported by strong momentum across its derivatives platform.The exchange operator posted adjusted earnings of $3.06 per share, beating the analyst consensus of $2.85. Revenue reached a record $671.1 million, well above forecasts of $636.57 million. Despite the solid performance, the stock dipped a modest 0.14% in pre-market trading.Growth was led by the derivatives segment, where net revenue jumped 38% compared with the same quarter in 2024. Total options average daily volume increased 24% year over year, with index options up 35% and multi-listed options rising 20%.“Cboe delivered an exceptional fourth quarter, marking the culmination of a year characterized by record growth – including 17% net revenue growth, 45% diluted EPS growth, and 24% adjusted diluted EPS growth,” said Craig Donohue, Chief Executive Officer of Cboe Global Markets.Outside derivatives, Cash and Spot Markets net revenue climbed 27% year over year, while Data Vantage revenue increased 9%. Diluted earnings per share reached a quarterly record of $2.97, up 60% from the prior-year period.Looking ahead, Cboe guided for “mid single-digit” organic total net revenue growth in 2026 and “mid to high single-digit” growth in its Data Vantage business. Adjusted operating expenses for 2026 are expected to range between $864 million and $879 million.“We are starting 2026 with a very strong foundation – a focused growth strategy, a highly seasoned and impressive leadership team, and continued strong secular trends in our core businesses,” Donohue added.The company also reported further margin expansion, with operating margin improving to 60.2% from 56.9% a year earlier, while adjusted operating margin rose to 67.1% from 61.0%.

Original: Cboe tops Q4 forecasts as derivatives activity drives record revenue

Cboe Global Markets Reports Results for Fourth Quarter 2025 and Full YearFebruary 6, 2026 7:30 AM
PR Newswire (US)

Fourth Quarter and Full Year Highlights*Record Diluted EPS for the Quarter of $2.97, Up 60 percent; Record Diluted EPS for the Full Year of $10.42, Up 45 percentRecord Adjusted Diluted EPS1 for the Quarter of $3.06, Up 46 percent; Record Adjusted Diluted EPS1 for the Full Year of $10.67, Up 24 percentRecord Net Revenue for the Quarter of $671.1 million, Up 28 percent; Record Net Revenue for the Full Year of $2.4 billion, Up 17 percentEstablishing 2026 Organic Total Net Revenue Growth Target2 of 'mid single-digit' and Cboe Data Vantage3 Organic Net Revenue Growth Target2 of 'mid to high single-digit'Establishing 2026 Adjusted Operating Expense Guidance2 of $864 to $879 millionCHICAGO, Feb. 6, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE) today reported financial results for the fourth quarter of 2025 and full year.







"Cboe delivered an exceptional fourth quarter, marking the culmination of a year characterized by record growth – including 17 percent net revenue growth, 45 percent diluted EPS growth, and 24 percent adjusted diluted EPS1 growth," said Craig Donohue, Chief Executive Officer of Cboe Global Markets. "Our recent strategic realignment is enabling us to allocate more resources toward growth and value creation in our core businesses, while also better positioning Cboe to capitalize on emerging opportunities. We are starting 2026 with a very strong foundation – a focused growth strategy, a highly seasoned and impressive leadership team, and continued strong secular trends in our core businesses.""Cboe produced another quarter of record net revenue, diluted EPS, and adjusted diluted EPS1 to conclude an extraordinary year," said Jill Griebenow, Cboe Global Markets Executive Vice President, Chief Financial Officer. "In our Derivatives business, record volumes across our index and multi-listed options products drove robust net revenue growth of 38 percent versus the fourth quarter of 2024. Cash and Spot Markets net revenue rose 27 percent, and Data Vantage net revenue increased 9 percent on a year-over-year basis. Moving forward, we anticipate 2026 total organic net revenue growth2 will be in the 'mid single-digit' range, and we anticipate 2026 Data Vantage organic net revenue growth2 will be in the 'mid to high single-digit' range. In addition, we are introducing our full year 2026 adjusted operating expense guidance2 range of $864 million to $879 million. We are pleased with the record results we achieved in 2025, and we remain focused on driving durable shareholder returns in the year ahead." *  All comparisons are fourth quarter 2025 or full year compared to the same period in 2024.(1) A full reconciliation of our non-GAAP results to our GAAP ("Generally Accepted Accounting Principles") results is included in the attached tables. See "Non-GAAP Information" in the accompanying financial tables.(2) Specific quantifications of the amounts that would be required to reconcile the company's organic net revenue growth guidance and adjusted operating expenses guidance are not available. The company believes that there is uncertainty and unpredictability with respect to certain of its GAAP measures, primarily related to acquisition-related revenues and costs that would be required to reconcile to GAAP revenues less cost of revenues, GAAP operating expenses and GAAP effective tax rate, which preclude the company from providing accurate guidance on certain forward-looking GAAP to non-GAAP reconciliations. The company believes that providing estimates of the amounts that would be required to reconcile the range of the company's organic net revenue growth guidance and adjusted operating expenses would imply a degree of precision that would be confusing or misleading to investors for the reasons identified above.(3) Cboe Data Vantage refers to the company's Cboe Data Vantage business (formerly known as Data and Access Solutions). Cboe Data Vantage is subsequently referred to as Data Vantage throughout this press release.Consolidated Fourth Quarter Results Table 1 below presents summary selected unaudited condensed consolidated financial information for the company as reported and on an adjusted basis for the three months ended December 31, 2025 and 2024.Table 1





Consolidated Fourth Quarter Results
($ in millions except per share
amounts and percentages)4Q254Q24Change4Q25
Adjusted¹4Q24
Adjusted¹ChangeTotal Revenues Less Cost of
Revenues$        671.1$        524.528 %$        671.1$        524.528 %Total Operating Expenses                                                $        267.3$        226.018 %$        220.6$        204.88 %Operating Income$        403.8$        298.535 %$        450.5$        319.741 %Operating Margin %60.2 %56.9 %       3.3 pp67.1 %61.0 %       6.1 ppNet Income Allocated to Common
Stockholders$        312.2$        195.660 %$        321.0$        221.245 %Net Income Allocated to Common
Stockholders Margin %46.5 %37.3 %       9.2 pp47.8 %42.2 %       5.6 ppDiluted Earnings Per Share$          2.97$          1.8660 %$          3.06$          2.1046 %Operating EBITDA1$        435.1$        330.632 %$        464.7$        331.240 %Operating EBITDA Margin %164.8 %63.0 %       1.8 pp69.2 %63.1 %       6.1 ppEBITDA1$        479.6$        316.651 %$        464.1$        331.640 %EBITDA Margin %171.5 %60.4 %         11.1 pp69.2 %63.2 %       6.0 ppTotal revenues less cost of revenues (referred to as "net revenue"2) of $671.1 million increased 28 percent, compared to $524.5 million in the prior-year period, a result of increases across all net revenue2 captions.Total operating expenses were $267.3 million versus $226.0 million in the fourth quarter of 2024, an increase of $41.3 million. This increase was primarily due to the impairment of assets and higher compensation and benefits, driven by an increase in accrued bonuses as a result of strong company performance in the fourth quarter of 2025. Adjusted operating expenses1 of $220.6 were up $15.8 million compared to $204.8 million in the fourth quarter of 2024. This increase was primarily due to higher compensation and benefits, driven by an increase in accrued bonuses as a result of strong company performance.The effective tax rate for the fourth quarter of 2025 was 30.6 percent as compared with 29.7 percent in the fourth quarter of 2024. The higher effective tax rate in 2025 is primarily related to remeasuring deferred tax assets and liabilities due to changes in state and local filing positions. The effective tax rate on adjusted earnings1 was 28.9 percent, down 0.6 percentage points when compared with 29.5 percent in last year's fourth quarter. The change was primarily due to benefits recognized by filing 2024 tax returns.Diluted EPS for the fourth quarter of 2025 increased 60 percent to $2.97 compared to the fourth quarter of 2024. Adjusted diluted EPS1 of $3.06 increased 46 percent compared to 2024 fourth quarter results.Business Segment InformationTable 2


Total Revenues Less Cost of Revenues by Business Segment (in millions)                                  4Q254Q24ChangeOptions$           433.1$           324.334 %North American Equities110.794.917 %Europe and Asia Pacific69.956.224 %Futures33.730.212 %Global FX23.719.422 %Digital3—(0.5)*Total$           671.1$           524.528 %

(1) A full reconciliation of our non-GAAP results to our GAAP results is included in the attached tables. See "Non-GAAP Information" in the accompanying financial tables.(2) See the attached tables on page 10 for "Net Revenue by Revenue Caption."(3) The Digital segment results are prospectively included in the Futures segment beginning in the first quarter of 2025. Digital results from 2024 have been retained in the former Digital segment for comparative purposes.*Not meaningfulDiscussion of Results by Business Segment1:Options:Record Options net revenue of $433.1 million was up $108.8 million, or 34 percent, from the fourth quarter of 2024. Net transaction and clearing fees2 increased primarily as a result of a 24 percent increase in total options average daily volume ("ADV") versus the fourth quarter of 2024. Access and capacity fees increased 13 percent as compared to the fourth quarter of 2024.Net transaction and clearing fees2 increased $112.4 million, or 40 percent, reflecting a 35 percent increase in index options ADV and a 20 percent increase in multi-listed options ADV. Total options revenue per contract ("RPC") increased 13 percent compared to the fourth quarter of 2024. The increase in total options RPC was primarily due to a mix shift, with index options representing a higher percentage of total options volume, and a 17 percent increase in multi-listed options RPC.Cboe's Options exchanges had total market share of 29.2 percent for the fourth quarter of 2025 compared to 30.4 percent in the fourth quarter of 2024.North American (N.A.) Equities:Record N.A. Equities net revenue of $110.7 million increased $15.8 million, or 17 percent, from the fourth quarter of 2024, reflecting higher net transaction and clearing fees2, access and capacity fees, and market data fees.Net transaction and clearing fees2 increased by $5.4 million, or 18 percent, compared to the fourth quarter of 2024. The increase was driven by stronger industry volumes, partially offset by lower market share in on-exchange U.S. Equities as compared to the fourth quarter of 2024.Cboe's U.S. Equities exchanges had market share of 9.4 percent for the fourth quarter of 2025 compared to 10.8 percent in the fourth quarter of 2024. Cboe's U.S. Equities off-exchange market share was 17.0 percent, up 0.5 percentage points from 16.5 percent in the fourth quarter of 2024. Canadian Equities market share decreased to 12.7 percent as compared to 14.3 percent in the fourth quarter of 2024.Europe and Asia Pacific (APAC):Europe and APAC net revenue of $69.9 million increased $13.7 million, or 24 percent, from the fourth quarter of 2024, reflecting growth in net transaction and clearing fees2 and non-transaction revenues. On a constant currency basis3, net revenues were $65.8 million, up 17 percent compared to the fourth quarter of 2024. European Equities average daily notional value ("ADNV") traded on Cboe European Equities was €12.2 billion, up 17 percent compared to the fourth quarter of 2024 given a 16 percent increase in industry market volumes. Cboe Clear Europe net settlement volume reached 3,603.7 thousand shares, up 22 percent from the fourth quarter of 2024. Australian Equities ADNV was 28 percent higher than the fourth quarter of 2024.For the fourth quarter of 2025, Cboe European Equities had 24.8 percent market share, up compared to 24.6 percent in the fourth quarter of 2024. Cboe Australia had 20.6 percent market share for the fourth quarter of 2025, down from 20.8 percent in the fourth quarter of 2024.Futures:Futures net revenue of $33.7 million increased $3.5 million, or 12 percent, from the fourth quarter of 2024 driven by a 13 percent increase in net transaction and clearing fees2.Net transaction and clearing fees2 increased $3.1 million, reflecting a 16 percent increase in ADV during the quarter.Global FX:Record Global FX net revenue of $23.7 million increased $4.3 million, or 22 percent, from the fourth quarter of 2024. The increase was due to higher net transaction and clearing fees2. ADNV traded on the Cboe FX platform was $53.3 billion for the quarter, up 17 percent compared to last year's fourth quarter, and net capture rate per one million dollars traded was $2.95 for the quarter, up 8 percent compared to $2.72 in the fourth quarter of 2024.(1) The Digital segment results are prospectively included in the Futures segment beginning in the first quarter of 2025. Digital results from 2024 have been retained in the former Digital segment for comparative purposes.(2) See the attached tables on page 10 for "Net Transaction and Clearing Fees by Business Segment."(3) A full reconciliation of our non-GAAP results to our GAAP results is included in the attached tables. See "Non-GAAP Information" in the accompanying financial tables.2026 Fiscal Year Financial Guidance1Cboe provided guidance for the 2026 fiscal year as noted below.Organic total net revenue growth2 is expected to be in the 'mid single-digit' range in 2026.Organic net revenue growth2 from Data Vantage is expected to be in the 'mid to high single-digit' range in 2026.Adjusted operating expenses2 in 2026 are expected to be in the range of $864 to $879 million. The guidance excludes the expected amortization of acquired intangible assets of $63 million; the company adjusts for this amount in its non-GAAP reconciliation.Depreciation and amortization expense for 2026 is expected to be in the range of $56 to $60 million, excluding the expected amortization of acquired intangible assets.The effective tax rate on adjusted earnings2 for the full year 2026 is expected to be in the range of 27.5 to 29.5 percent. Significant changes in trading volume, expenses, tax laws or rates, and other items could materially impact this expectation.Capital expenditures for 2026 are expected to be in the range of $73 to $83 million.(1) 2026 guidance includes the anticipated impacts from discontinuing U.S. and European Corporate Listings, CEDX, and Cboe's Japanese equities business, as well as the planned cost reductions in U.S. and European ETP Listings businesses and several of Cboe's smaller Risk and Market Analytics businesses, as announced in 2025 and early 2026. 2026 guidance also includes the anticipated business-as-usual financial contribution from Cboe Canada and Cboe Australia, which Cboe announced divestiture plans for in October 2025. 2026 guidance will be updated as further actions are announced.(2) Specific quantifications of the amounts that would be required to reconcile the company's organic and inorganic growth guidance, adjusted operating expenses guidance, and the effective tax rate on adjusted earnings guidance are not available. Acquisitions are considered organic after 12 months of closing. The company believes that there is uncertainty and unpredictability with respect to certain of its GAAP measures, primarily related to acquisition-related revenues and costs that would be required to reconcile to GAAP revenues less cost of revenues, GAAP operating expenses and GAAP effective tax rate, which preclude the company from providing accurate guidance on certain forward-looking GAAP to non-GAAP reconciliations. The company believes that providing estimates of the amounts that would be required to reconcile the range of the company's organic growth, adjusted operating expenses, and the effective tax rate on adjusted earnings would imply a degree of precision that would be confusing or misleading to investors for the reasons identified above.Capital ManagementAt December 31, 2025, the company had cash and cash equivalents of $2,216.5 million and adjusted cash3 of $2,216.8 million. Total debt as of December 31, 2025 was $1,442.9 million.The company paid cash dividends of $75.8 million, or $0.72 per share, and there were no share repurchases in the fourth quarter of 2025. As of December 31, 2025, the company had approximately $614.5 million of availability remaining under its existing share repurchase authorizations.Earnings Conference CallExecutives of Cboe Global Markets will host a conference call to review its fourth quarter financial results today, February 6, 2026, at 8:30 a.m. ET/7:30 a.m. CT. The conference call and any accompanying slides will be publicly available via live webcast from the Investor Relations section of the company's website at www.cboe.com under Events & Presentations. Participants may also listen via telephone by dialing (800) 715-9871 (toll-free) or (646) 307-1963 (toll) and using the Conference ID 6775785. Telephone participants should place calls 10 minutes prior to the start of the call. The webcast will be archived on the company's website for replay.(3) A full reconciliation of our non-GAAP results to our GAAP results is included in the attached tables. See "Non-GAAP Information" in the accompanying financial tables.About Cboe Global MarketsCboe Global Markets (Cboe: CBOE), the world's leading derivatives and securities exchange network, delivers cutting-edge trading, clearing and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, and FX, across North America, Europe, and Asia Pacific. Above all, Cboe is committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more about Cboe, visit www.cboe.com. Cautionary Statements Regarding Forward-Looking InformationThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as "may," "might," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential", or "continue," and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our dependence on and exposure to risk from third parties; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our global operations, growth, and strategic acquisition, wind-downs, divestitures or alliances effectively; increases in the cost of the products and services we use; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, liquidity, market, investment, counterparty, and default risks, associated with operating our clearinghouses; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing our business interests and our regulatory responsibilities; the loss of key customers or a significant reduction in trading or clearing volumes by key customers; separate from and not integrated with our registered national securities exchanges; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments, or intangible assets; the accuracy of our estimates and expectations; and litigation risks and other liabilities. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2024 and other filings made from time to time with the SEC.We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.The condensed consolidated statements of income and balance sheets are unaudited and subject to revision.Cboe Media Contacts:


Analyst Contact:Angela Tu
Tim Cave
Kenneth Hill, CFA(646) 856-8734
+44 (0) 7593 506 719
(312) 786-7559atu@cboe.com
tcave@cboe.com
khill@cboe.comCBOE-FTrademarks:Cboe®, Cboe Global Markets®, Cboe Volatility Index®, Cboe Clear®, Cboe Datashop®, BIDS Trading®, BZX®, BYX®, Cboe Clear®, EDGX®, EDGA®, MATCHNow®, and VIX® are registered trademarks and Cboe Data VantageSM is a service mark of Cboe Global Markets, Inc. and its subsidiaries. All other trademarks and service marks are the property of their respective owners.Cboe Global Markets, Inc.Key Performance Statistics by Business Segment

4Q 20253Q 20252Q 20251Q 20254Q 2024Options




Total industry ADV (in thousands)66,60860,79857,20358,44451,635Total Company Options ADV (in thousands):19,41918,77517,30118,18315,673Multi-listed options13,96513,91112,61513,41211,633Index options5,4544,8644,6864,7714,040Total Options market share:29.2 %30.9 %30.2 %31.1 %30.4 %Multi-listed options22.9 %24.9 %24.0 %25.0 %24.5 %Total Options RPC:$        0.317$        0.281$        0.300$        0.287$        0.281Multi-listed options$        0.075$        0.055$        0.068$        0.066$        0.064Index options$        0.938$        0.926$        0.923$        0.908$        0.905





North American Equities




U.S. Equities - Exchange:




Total industry ADV (shares in billions)18.617.618.415.713.6Market share %9.4 %9.8 %10.5 %10.5 %10.8 %Net capture (per 100 touched shares)$        0.018$        0.015$        0.012$        0.014$        0.018U.S. Equities - Off-Exchange:




ADV (touched shares, in millions)197.0202.3125.590.680.0Off-Exchange ATS Block Market Share %17.0 %17.9 %14.9 %17.1 %16.5 %Net capture (per 100 touched shares)$        0.064$        0.064$        0.082$        0.117$        0.126Canadian Equities:




ADV (matched shares, in millions)195.9163.8150.6159.6157.4Total market share %12.7 %12.5 %12.7 %13.8 %14.3 %Net capture (per 10,000 shares, in Canadian Dollars)$        3.962$        4.142$        4.222$        4.250$        4.008





Europe and Asia Pacific




European Equities:




Total industry ADNV (Euros - in billions)€          49.1€          46.1€          54.5€          55.8€          42.3Market share %24.8 %25.4 %25.1 %24.8 %24.6 %Net capture (per matched notional value (bps), in Euros)€        0.278€        0.288€        0.261€        0.252€        0.261Cboe Clear Europe:




Trades cleared (in thousands)322,339.2329,293.1400,935.8412,072.2328,976.1Fee per trade cleared (in Euros)€        0.010€        0.010€        0.008€        0.008€        0.008Net settlement volume (shares in thousands)3,603.73,541.93,289.33,200.72,962.6Net fee per settlement (in Euros)€        1.113€        1.015€        0.956€        0.951€        1.002Australian Equities:




ADNV (Australian dollars - in billions)$            1.0$            1.0$            1.0$            0.8$            0.8Market share - Continuous20.6 %20.6 %20.0 %19.4 %20.8 %Net capture (per matched notional value (bps), in Australian Dollars)                                  $        0.207$        0.206$        0.160$        0.156$        0.154





Futures




ADV (in thousands)239.2200.7220.5249.4206.4RPC$        1.717$        1.745$        1.691$        1.740$        1.765





Global FX




ADNV ($ - in billions)$          53.3$          49.9$          55.9$          51.9$          45.6Net capture (per one million dollars traded)$          2.95$          2.89$          2.81$          2.77$          2.72
*In the second quarter of 2025, Digital futures products were transitioned to Cboe Futures Exchange. Futures metrics prior to the second quarter of 2025 exclude Digital futures products.ADV = average daily volume; ADNV = average daily notional value.RPC, average revenue per contract, for options and futures, represents total net transaction fees recognized for the period divided by total contracts traded during the period.Touched volume represents the total number of shares of equity securities and ETFs internally matched on our exchanges or routed to and executed on an external market center.Matched volume represents the total number of shares of equity securities and ETFs executed on our exchanges.U.S. Equities - Exchange, "net capture per 100 touched shares" refers to transaction fees less liquidity payments and routing and clearing costs divided by the product of one-hundredth ADV of touched shares on BZX, BYX, EDGX and EDGA and the number of trading days. U.S. Equities – Off-Exchange data reflects BIDS Trading. For U.S. Equities – Off-Exchange, "net capture per 100 touched shares" refers to transaction fees less order and execution management system (OMS/EMS) fees and clearing costs divided by the product of one-hundredth ADV of touched shares on BIDS Trading and the number of trading days for the period.Canadian Equities, "net capture per 10,000 shares" refers to transaction fees divided by the product of one-ten thousandth ADV of shares for Cboe Canada and the number of trading days. Total market share represents Cboe Canada volume divided by the total volume of the Canadian Equities market.European Equities, "net capture per matched notional value" refers to transaction fees less liquidity payments in Euros divided by the product of ADNV in Euros of shares matched on Cboe Europe Equities and the number of trading days. "Trades cleared" refers to the total number of non-interoperable trades cleared, "Fee per trade cleared" refers to clearing fees divided by number of non-interoperable trades cleared, "Net settlement volume" refers to the total number of settlements executed after netting, and "Net fee per settlement" refers to settlement fees less direct costs incurred to settle divided by the number of settlements executed after netting.Australian Equities data reflects data from Cboe Australia. Australian Equities, "net capture per matched notional value" refers to transaction fees less liquidity payments in Australian dollars divided by the product of ADNV in Australian dollars of shares matched on Cboe Australia and the number of Australian Equities trading days.Global FX, "net capture per one million dollars traded" refers to transaction fees less liquidity payments, if any, divided by the Spot and SEF products of one-thousandth of ADNV traded on the Cboe FX Markets and the number of trading days, divided by two, which represents the buyer and seller that are both charged on the transaction.Average transaction fees per contract can be affected by various factors, including exchange fee rates, volume-based discounts and transaction mix by contract type and product type.Cboe Global Markets, Inc. and SubsidiariesCondensed Consolidated Statements of Income (Unaudited)Three and Twelve Months Ended December 31, 2025 and 2024

Three Months Ended December 31,
Twelve Months Ended December 31,(in millions, except per share amounts)2025
2024
2025
2024Revenues:






Cash and spot markets$         431.3
$         468.6
$      1,834.8
$      1,670.0Data Vantage162.6
148.7
635.5
576.6Derivatives markets610.1
490.3
2,243.9
1,847.9Total Revenues1,204.0
1,107.6
4,714.2
4,094.5Cost of Revenues:






Liquidity payments443.6
365.7
1,709.7
1,329.1Routing and clearing20.1
18.3
80.4
68.3Regulatory fees cost of revenues0.3
142.1
238.7
391.4Royalty fees and other cost of revenues68.9
57.0
256.3
233.3Total Cost of Revenues532.9
583.1
2,285.1
2,022.1Revenues Less Cost of Revenues671.1
524.5
2,429.1
2,072.4Operating Expenses:






Compensation and benefits127.5
111.9
500.8
462.4Depreciation and amortization31.3
32.1
122.4
133.0Technology support services28.7
28.5
107.6
102.8Professional fees and outside services24.3
25.6
91.5
94.8Travel and promotional expenses15.5
16.4
42.1
45.8Facilities costs6.6
6.1
26.2
24.6Acquisition-related costs(0.1)
0.1
0.3
1.3Impairment of assets25.1
—
46.7
81.0Other expenses8.4
5.3
24.4
28.3Total Operating Expenses267.3
226.0
962.0
974.0Operating Income403.8
298.5
1,467.1
1,098.4Non-operating Income (Expenses):






Interest expense(13.3)
(12.9)
(52.3)
(51.5)Interest income15.4
7.2
49.4
27.3Earnings (loss) on investments, net44.5
(0.2)
92.8
29.0Other income (expense), net1.3
(12.9)
9.6
(19.4)Total Non-operating Income (Expenses)47.9
(18.8)
99.5
(14.6)Income Before Income Tax Provision451.7
279.7
1,566.6
1,083.8Income tax provision138.2
83.2
466.6
318.9Net Income313.5
196.5
1,100.0
764.9Net income allocated to participating securities(1.3)
(0.9)
(5.2)
(3.9)Net Income Allocated to Common Stockholders$          312.2
$          195.6
$      1,094.8
$          761.0Net Income Per Share Allocated to Common Stockholders:






Basic earnings per share$            2.98
$            1.87
$         10.46
$            7.24Diluted earnings per share2.97
1.86
10.42
7.21Weighted average shares used in computing income per share:                                        






Basic104.7
104.8
104.7
105.1Diluted105.0
105.1
105.1
105.5 Cboe Global Markets, Inc. and SubsidiariesCondensed Consolidated Balance Sheets (Unaudited)December 31, 2025 and December 31, 2024
(in millions)December 31,
2025
December 31,
2024AssetsCurrent assets:


Cash and cash equivalents$         2,216.5
$            920.3Financial investments36.1
110.3Accounts receivable, net391.4
444.6Margin deposits, clearing funds, and interoperability funds1,618.2
845.5Income taxes receivable67.9
73.8Other current assets (includes restricted cash of $34.1 at December 31, 2025 and $— at
December 31, 2024)91.3
84.6Total current assets4,421.4
2,479.1



Investments32.4
383.7Property and equipment, net133.1
118.0Operating lease right of use assets111.0
124.5Goodwill3,150.5
3,124.2Intangible assets, net1,297.2
1,376.9Other assets, net159.7
182.7Total assets$         9,305.3
$         7,789.1



Liabilities and Stockholders' EquityCurrent liabilities:


Accounts payable and accrued liabilities$            686.9
$            359.7Section 31 fees payable0.2
182.0Deferred revenue6.9
6.4Margin deposits, clearing funds, and interoperability funds1,618.2
845.5Income taxes payable50.1
1.6Total current liabilities2,362.3
1,395.2



Long-term debt1,442.9
1,441.0Non-current unrecognized tax benefits15.8
305.0Deferred income taxes185.3
186.8Non-current operating lease liabilities120.9
138.4Other non-current liabilities39.8
43.1Total liabilities4,167.0
3,509.5



Stockholders' equity:


Preferred stock—
—Common stock1.0
1.0Treasury stock, at cost(1.5)
(1.4)Additional paid-in capital1,565.1
1,512.5Retained earnings3,543.6
2,815.9Accumulated other comprehensive income (loss), net                                                                                                                                      30.1
(48.4)Total stockholders' equity5,138.3
4,279.6



Total liabilities and stockholders' equity$         9,305.3
$         7,789.1 Table 3














Net Transaction and Clearing
Fees by Business Segment
Three Months Ended December
31, 2025 and 2024 (in millions)ConsolidatedDecember 31,OptionsDecember 31,N.A. EquitiesDecember 31,Europe and APACDecember 31,FuturesDecember 31,Global FXDecember 31,Digital1December 31,

20252024202520242025202420252024202520242025202420252024
Transaction and clearing fees$ 977.4$ 762.6$ 559.7$ 418.0$ 316.3$ 260.6$   52.7$   41.4$  27.8$  25.9$  20.9$  16.6$     —$    0.1
Liquidity payments(443.6)(365.7)(160.7)(131.7)(272.6)(222.2)(8.8)(8.5)(1.5)(2.7)———(0.6)
Routing and clearing(20.1)(18.3)(4.6)(4.3)(9.0)(9.1)(6.0)(4.5)——(0.5)(0.4)——
Net transaction and clearing fees$ 513.7$ 378.6$ 394.4$ 282.0$  34.7$  29.3$   37.9$   28.4$  26.3$  23.2$  20.4$  16.2$     —$  (0.5)
 Table 4








Net Revenue by Revenue Caption Three Months Ended                           
December 31, 2025 and 2024 (in millions)Cash and Spot MarketsDecember 31,Data VantageDecember 31,Derivatives MarketsDecember 31,TotalDecember 31,

20252024202520242025202420252024
Transaction and clearing fees$   390.0$   318.6$         —$         —$   587.4$   444.0$   977.4$   762.6
Access and capacity fees——105.895.0——105.895.0
Market data fees16.714.356.053.010.08.382.775.6
Regulatory fees3.0114.2——12.037.015.0151.2
Other revenue21.621.50.80.70.71.023.123.2
Total revenues$   431.3$   468.6$   162.6$   148.7$   610.1$   490.3$ 1,204.0$ 1,107.6










Liquidity payments$   280.6$   229.7$         —$         —$   163.0$   136.0$   443.6$   365.7
Routing and clearing15.514.1——4.64.220.118.3
Regulatory fees cost of revenues0.3114.1———28.00.3142.1
Royalty fees and other cost of revenues9.311.83.12.856.542.468.957.0
Total cost of revenues$   305.7$   369.7$        3.1$        2.8$   224.1$   210.6$   532.9$   583.1










Net revenue$   125.6$     98.9$   159.5$   145.9$   386.0$   279.7$   671.1$   524.5


(1) The Digital segment results are prospectively included in the Futures segment beginning in the first quarter of 2025. Digital results from 2024 have been retained in the former Digital segment for comparative purposes.Non-GAAP InformationIn addition to disclosing results determined in accordance with GAAP, Cboe Global Markets has disclosed certain non-GAAP measures of operating performance. These measures are not in accordance with, or a substitute for, GAAP, and may be different from or inconsistent with non-GAAP financial measures used by other companies. The non-GAAP measures provided in this press release include adjusted revenues less cost of revenues, adjusted operating expenses, adjusted operating income, adjusted operating margin, adjusted net income allocated to common stockholders, adjusted diluted earnings per share, effective tax rate on adjusted earnings, adjusted income before income taxes, operating EBITDA, operating EBITDA margin, adjusted operating EBITDA, adjusted operating EBITDA margin, EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, adjusted cash, and net revenues in constant currency.Management believes that the non-GAAP financial measures presented in this press release provide additional and comparative information to assess trends in our core operations and a means to evaluate period-to-period comparisons. Non-GAAP financial measures disclosed by management are provided as additional information to investors in order to provide them with an alternative method for assessing our financial condition and operating results.The tables below show the reconciliation of each financial measure from GAAP to non-GAAP. The non-GAAP financial measures exclude the impact of those items detailed below and are referred to as adjusted financial measures. Reconciliation of GAAP and Non-GAAP Information


Three Months Ended
Twelve Months EndedTable 5
December 31,
December 31,(in millions, except percentages and per share amounts)
2025
2024
2025
2024Reconciliation of Net Income Allocated to Common
Stockholders to Non-GAAP (As shown on Table 1)







Net income allocated to common stockholders
$          312.2
$          195.6
$       1,094.8
$          761.0Non-GAAP adjustments







Acquisition-related costs (1)
(0.1)
0.1
0.3
1.3Amortization of acquired intangible assets (2)
17.1
20.6
69.9
88.7Business realignment costs (3)
4.0
0.5
7.0
2.1Cboe Digital syndication wind down (4)
—
—
—
(1.0)Change in contingent consideration (5)
—
—
—
2.1Non-operating investment adjustments, net (6)
(45.1)
14.4
(96.8)
31.4Executive compensation adjustment (7)
0.6
—
1.6
—Gain on Cboe Digital non-recourse notes and warrants wind                                            
down (8)
—
—
—
(1.4)Gain on sale of property held for sale (9)
—
—
—
(1.0)Impairment of assets (10)
25.1
—
46.7
81.0Total Non-GAAP adjustments
1.6
35.6
28.7
203.2Income tax expense related to the items above
(0.5)
(7.9)
(8.2)
(52.2)Deferred tax re-measurements (11)
14.3
—
13.3
—Tax reserves (11)
(6.6)
(2.5)
(6.6)
(8.1)Valuation allowances (12)
—
0.6
—
5.0Net income allocated to participating securities - effect on
reconciling items
—
(0.2)
(0.3)
(0.9)Adjusted earnings
$          321.0
$          221.2
$       1,121.7
$          908.0








Reconciliation of Diluted EPS to Non-GAAP







Diluted earnings per common share
$            2.97
$            1.86
$          10.42
$            7.21Per share impact of non-GAAP adjustments noted above
0.09
0.24
0.25
1.40Adjusted diluted earnings per common share
$            3.06
$            2.10
$          10.67
$            8.61








Reconciliation of Operating Margin to Non-GAAP







Revenues less cost of revenue
$          671.1
$          524.5
$       2,429.1
$       2,072.4Non-GAAP adjustments noted above
—
—
—
(1.0)Adjusted revenues less cost of revenue
$          671.1
$          524.5
$       2,429.1
$       2,071.4Operating expenses (13)
$          267.3
$          226.0
$          962.0
$          974.0Non-GAAP adjustments noted above
46.7
21.2
125.5
175.2Adjusted operating expenses
$          220.6
$          204.8
$          836.5
$          798.8Operating income
$          403.8
$          298.5
$       1,467.1
$       1,098.4Non-GAAP adjustments noted above
46.7
21.2
125.5
174.2Adjusted operating income
$          450.5
$          319.7
$       1,592.6
$       1,272.6Adjusted operating margin (14)
67.1 %
61.0 %
65.6 %
61.4 %








Reconciliation of Income Tax Rate to Non-GAAP







Income before income taxes
$          451.7
$          279.7
$       1,566.6
$       1,083.8Non-GAAP adjustments noted above
1.6
35.6
28.7
203.2Adjusted income before income taxes
$          453.3
$          315.3
$       1,595.3
$       1,287.0








Income tax expense
$          138.2
$            83.2
$          466.6
$          318.9Non-GAAP adjustments noted above
(7.2)
9.8
1.5
55.3Adjusted income tax expense
$          131.0
$            93.0
$          468.1
$          374.2Adjusted income tax rate
28.9 %
29.5 %
29.3 %
29.1 %

(1)This amount includes acquisition-related costs primarily from the company's Cboe Digital, Cboe Canada, and Cboe Asia Pacific acquisitions, which are included in acquisition-related costs on the condensed consolidated statements of income.(2)This amount represents the amortization of acquired intangible assets related to the company's acquisitions, which is included in depreciation and amortization on the condensed consolidated statements of income.(3)This amount represents certain business realignment costs related to announced business realignment initiatives. For the three and twelve months ended December 31, 2025, the costs included $2.1 million and $5.1 million in compensation and benefits, respectively, $0.5 million in professional fees and outside services, and $1.4 million in other expenses, respectively, on the condensed consolidated statements of income. For the three and twelve months ended December 31, 2024, the costs included $0.5 million and $2.1 million in compensation and benefits, respectively, on the condensed consolidated statements of income.(4)This amount represents the contra-revenue that was reversed as a result of the Cboe Digital syndication wind down, which is included in transaction and clearing fees on the condensed consolidated statements of income.(5)This amount represents the gains and losses related to contingent consideration liabilities achieved related to the acquisitions of Cboe Canada and Cboe Asia Pacific, which is included in other expenses on the condensed consolidated statements of income.(6)This amount represents the net gains associated with the partial sale of PYTH token intangible assets and from the company's various minority investments, as well as the gain associated with the completion of the investment transaction within the company's investment in the 7Ridge Fund (which owned Trading Technologies International Inc.), which included $45.1 million, and $96.8 million in earnings on investments, net on the condensed consolidated statements of income, for the three and twelve months ended December 31, 2025, respectively, and the net impairments related to the company's minority investments, which included $14.4 million and $31.6 million in other income (expense), net on the condensed consolidated statements of income, for the three and twelve months ended December 31, 2024, respectively, and $0.2 million in earnings on investments, net on the condensed consolidated statements of income for the twelve months ended December 31, 2024.(7)This amount represents the CEO sign-on long-term equity awards with a grant date value of $6.0 million (comprised of a mixture of time and performance-based awards) and subject to a 3-year cliff vesting requirement associated with the hiring of Craig Donohue as Chief Executive Officer, which is included in compensation and benefits on the condensed consolidated statements of income. This amount does not include the CEO's annual long-term equity incentive awards that were prorated for 2025.(8)This amount represents the revaluation and the gain associated with the wind down of the Cboe Digital non-recourse notes and warrants, which is included in other income (expense), net on the condensed consolidated statements of income.(9)This amount represents the net gain on the sale of the company's former headquarters, which is included in other income (expense), net on the condensed consolidated statements of income.(10)This amount represents the impairment of assets related to Cboe Canada, Cboe European Derivatives ("CEDX"), and Cboe Japan in 2025, as well as the impairment of assets related to the Cboe Digital wind down in 2024, which are included in impairment of assets on the condensed consolidated statements of income.(11)These amounts represent the tax impact related to changes in state and local filing positions for the three and twelve months ended December 31, 2025 and the tax reserves related to Section 199 matters for the three and twelve months ended December 31, 2024, respectively.(12)This amount represents the valuation allowances related to the impairments of the company's minority investments in Globacap Technology Limited and StratiFi Technologies Inc.(13)The company sponsors deferred compensation plans held in a trust. The expenses or income related to the deferred compensation plans are included in compensation and benefits ($1.9 million and $1.4 million in expense for the three months ended December 31, 2025 and 2024, respectively, and $4.5 million and $3.6 million in expense for the twelve months ended December 31, 2025 and 2024, respectively), and are directly offset by deferred compensation income, expenses and dividends included within other income (expense), net ($1.9 million and $1.4 million in income, expense and dividends in the three months ended December 31, 2025 and 2024, respectively, and $4.5 million and $3.6 million in income, expense and dividends in the twelve months ended December 31, 2025 and 2024, respectively), on the condensed consolidated statements of income. The deferred compensation plans' expenses are not excluded from adjusted operating expenses and do not have an impact on income before income taxes.(14)Adjusted operating margin represents adjusted operating income divided by revenues less cost of revenues.EBITDA ReconciliationsEBITDA (earnings before interest, income taxes, depreciation and amortization) and Adjusted EBITDA are widely used non-GAAP financial measures of operating performance. These metrics are presented as supplemental information that the company believes are useful to investors to evaluate the company's results because they exclude certain items that are not directly related to the company's core operating performance. Operating EBITDA is calculated by adding back to operating income depreciation and amortization. Adjusted Operating EBITDA is calculated by adding back to Operating EBITDA relevant adjustments. Operating EBITDA margin represents Operating EBITDA divided by revenues less cost of revenues. Adjusted Operating EBITDA margin represents Adjusted Operating EBITDA divided by revenues less cost of revenues. EBITDA is calculated by adding back to net income interest (income) expense, net, income tax expense, and depreciation and amortization. EBITDA margin represents EBITDA divided by revenues less cost of revenues. Adjusted EBITDA is calculated by adding back to EBITDA relevant adjustments. Adjusted EBITDA margin represents Adjusted EBITDA divided by revenues less cost of revenues. Relevant adjustments are detailed in the reconciliations that follow. Operating EBITDA, Adjusted Operating EBITDA, EBITDA, and Adjusted EBITDA should not be considered as substitutes either for net income, as an indicator of the company's operating performance, or for cash flow as a measure of the company's liquidity. In addition, because Operating EBITDA, Operating EBITDA margin, Adjusted Operating EBITDA, Adjusted Operating EBITDA margin, EBITDA, EBITDA margin, Adjusted EBITDA, and Adjusted EBITDA margin may not be calculated identically by all companies, the presentation here may not be comparable to other similarly titled measures of other companies.Table 6
Three Months Ended
Twelve Months Ended(in millions, except percentages)
December 31,
December 31,Reconciliation of Operating Income to Operating EBITDA and
Adjusted Operating EBITDA (Per Table 1)
2025
2024
2025
2024Operating income
$         403.8
$         298.5
$      1,467.1
$      1,098.4Depreciation and amortization
31.3
32.1
122.4
133.0Operating EBITDA
$         435.1
$         330.6
$      1,589.5
$      1,231.4Operating EBITDA Margin
64.8 %
63.0 %
65.4 %
59.4 %








Non-GAAP adjustments not included in above line items                                           







Acquisition-related costs
(0.1)
0.1
0.3
1.3Business realignment costs
4.0
0.5
7.0
2.1Cboe Digital syndication wind down
—
—
—
(1.0)Change in contingent consideration
—
—
—
2.1Executive compensation adjustment
0.6
—
1.6
—Impairment of assets
25.1
—
46.7
81.0Adjusted Operating EBITDA
$         464.7
$         331.2
$      1,645.1
$      1,316.9Adjusted Operating EBITDA Margin
69.2 %
63.1 %
67.7 %
63.5 %








Reconciliation of Net Income Allocated to Common Stockholders
to EBITDA and Adjusted EBITDA (Per Table 1)
2025
2024
2025
2024Net income allocated to common stockholders
$         312.2
$         195.6
$      1,094.8
$         761.0Interest expense, net
(2.1)
5.7
2.9
24.2Income tax provision
138.2
83.2
466.6
318.9Depreciation and amortization
31.3
32.1
122.4
133.0EBITDA
$         479.6
$         316.6
$      1,686.7
$      1,237.1EBITDA Margin
71.5 %
60.4 %
69.4 %
59.7 %








Non-GAAP adjustments not included in above line items







Acquisition-related costs
(0.1)
0.1
0.3
1.3Business realignment costs
4.0
0.5
7.0
2.1Cboe Digital syndication wind down
—
—
—
(1.0)Change in contingent consideration
—
—
—
2.1Non-operating investment adjustments, net
(45.1)
14.4
(96.8)
31.4Executive compensation adjustment
0.6
—
1.6
—Gain on Cboe Digital non-recourse notes and warrants wind down
—
—
—
(1.4)Gain on sale of property held for sale
—
—
—
(1.0)Impairment of assets
25.1
—
46.7
81.0Adjusted EBITDA
$         464.1
$         331.6
$      1,645.5
$      1,351.6Adjusted EBITDA Margin
69.2 %
63.2 %
67.7 %
65.2 % Table 7



(in millions)
December 31,Reconciliation of Cash and Cash Equivalents to Adjusted Cash
2025
2024Cash and cash equivalents
$        2,216.5
$            920.3Financial investments
36.1
110.3Less deferred compensation plan assets                                                                                                                                               
(35.8)
(40.3)Less cash collected for Section 31 Fees
—
(110.8)Adjusted Cash
$        2,216.8
$            879.5 Table 8
Three Months Ended
Twelve Months Ended(in millions)
December 31,
December 31,Reconciliation of GAAP Net Revenue to Net Revenue in
Constant Currency
2025
2024
2025
2024Europe and Asia Pacific net revenue                                                                                        
$              69.9
$              56.2
$            273.5
$            220.2Constant currency adjustment
(4.1)
—
(8.4)
—Europe and Asia Pacific net revenue in constant currency1
$              65.8
$              56.2
$            265.1
$            220.2
(1) Net revenue in constant currency is calculated by converting the current period GAAP net revenue in local currency using the foreign currency exchange rates that were in effect during the previous comparable period. 



View original content to download multimedia:https://www.prnewswire.com/news-releases/cboe-global-markets-reports-results-for-fourth-quarter-2025-and-full-year-302680925.htmlSOURCE Cboe Global Markets, Inc.

Original: Cboe Global Markets Reports Results for Fourth Quarter 2025 and Full Year

Cboe Global Markets Reports Trading Volume for January 2026February 4, 2026 4:49 PM
PR Newswire (US)

CHICAGO, Feb. 4, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today reported January monthly trading volume statistics across its global business lines.
The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of certain January trading statistics and market share by business segment, volume in select index products, and RPC/net capture, which is reported on a one-month lag, across business lines.Average Daily Trading Volume (ADV) by Month Year-To-Date








Jan2026Jan2025%ChgDec
 2025%  
 ChgJan2026Jan2025%  
 ChgMulti-listed options (contracts, k)14,09313,1517.2 %11,55022.0 %14,09313,1517.2 %Index options (contracts, k)5,4774,53520.8 %5,0478.5 %5,4774,53520.8 %Futures (contracts, k)12302204.6 %17928.5 %2302204.6 %U.S. Equities - On-Exchange (matched shares, mn)1,8721,63714.3 %1,41532.3 %1,8721,63714.3 %U.S. Equities - Off-Exchange (matched shares, mn)24183189.5 %16149.6 %24183189.5 %Canadian Equities (matched shares, k)239,258159,21150.3 %188,50826.9 %239,258159,21150.3 %European Equities (€, mn)15,21811,42333.2 %10,44945.6 %15,21811,42333.2 %Australian Equities (AUD, mn)1,04165160.0 %87618.8 %1,04165160.0 %Global FX ($, mn)67,23350,31233.6 %51,52830.5 %67,23350,31233.6 %Cboe Clear Europe Cleared Trades (k)123,562122,9390.5 %90,71936.2 %123,562122,9390.5 %Cboe Clear Europe Net Settlements (k)1,2341,05017.6 %1,1438.0 %1,2341,05017.6 %












1 In the second quarter of 2025, Digital futures products were transitioned to Cboe Futures Exchange. Futures metrics prior to the second quarter of 2025 exclude Digital futures products.January 2026 Trading Volume Highlights   U.S. Options A record 287 thousand S&P 500 Index (SPX) options contracts traded during Cboe's Global Trading Hours session (8:15 p.m. to 9:25 a.m. ET) on January 20, eclipsing the previous record set in April 2025.Mini-SPX (XSP) options set a monthly volume record in January, with an ADV of 150 thousand contracts.European EquitiesCboe Europe Periodic Auctions achieved a record monthly average daily notional value (ADNV) of €5.3 billion.Global FXGlobal FX set a new aggregate monthly ADNV record of $67.2 billion, driven by records in spot ADNV ($63.3 billion) and Cboe SEF (Swap Execution Facility) Non-Deliverable Forwards ADNV ($3.9 billion).About Cboe Global MarketsCboe Global Markets (Cboe: CBOE), the world's leading derivatives and securities exchange network, delivers cutting-edge trading, clearing, and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, and FX across North America, Europe, and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more, visit www.cboe.com.Cboe Media Contacts
Cboe Analyst ContactAngela TuTim Cave
Kenneth Hill, CFA
+1-646-856-8734+44 (0) 7593-506-719
+1-312-786-7559
atu@cboe.comtcave@cboe.com
khill@cboe.com






CBOE-VCboe®, Cboe Global Markets®, Cboe Clear®, Cboe Futures Exchange®, CFE®, Cboe Volatility Index®, and VIX® are registered trademarks of Cboe Exchange, Inc. or its affiliates. Standard & Poor's®, S&P®, SPX®, and S&P 500® are registered trademarks of Standard & Poor's Financial Services, LLC, and have been licensed for use by Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.Any products that have the S&P Index or Indexes as their underlying interest are not sponsored, endorsed, sold or promoted by Standard & Poor's or Cboe and neither Standard & Poor's nor Cboe make any representations or recommendations concerning the advisability of investing in products that have S&P indexes as their underlying interests. All other trademarks and service marks are the property of their respective owners.Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at:?https://www.cboe.com/us_disclaimers/. Options involve risk and are not suitable for all market participants. Prior to buying or selling an option, a person should review the Characteristics and Risks of Standardized Options (ODD), which is required to be provided to all such persons. Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606. Logo - https://mma.prnewswire.com/media/2868951/Cboe_Logo.jpg 



View original content:https://www.prnewswire.co.uk/news-releases/cboe-global-markets-reports-trading-volume-for-january-2026-302679511.html

Original: Cboe Global Markets Reports Trading Volume for January 2026

Cboe Global Markets Reports Trading Volume for January 2026February 4, 2026 4:30 PM
PR Newswire (US)

CHICAGO, Feb. 4, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today reported January monthly trading volume statistics across its global business lines.







The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of certain January trading statistics and market share by business segment, volume in select index products, and RPC/net capture, which is reported on a one-month lag, across business lines.Average Daily Trading Volume (ADV) by Month Year-To-Date








Jan2026Jan2025%ChgDec
 2025%  
 ChgJan2026Jan2025%  
 ChgMulti-listed options (contracts, k)14,09313,1517.2 %11,55022.0 %14,09313,1517.2 %Index options (contracts, k)5,4774,53520.8 %5,0478.5 %5,4774,53520.8 %Futures (contracts, k)12302204.6 %17928.5 %2302204.6 %U.S. Equities - On-Exchange (matched shares, mn)1,8721,63714.3 %1,41532.3 %1,8721,63714.3 %U.S. Equities - Off-Exchange (matched shares, mn)24183189.5 %16149.6 %24183189.5 %Canadian Equities (matched shares, k)239,258159,21150.3 %188,50826.9 %239,258159,21150.3 %European Equities (€, mn)15,21811,42333.2 %10,44945.6 %15,21811,42333.2 %Australian Equities (AUD, mn)1,04165160.0 %87618.8 %1,04165160.0 %Global FX ($, mn)67,23350,31233.6 %51,52830.5 %67,23350,31233.6 %Cboe Clear Europe Cleared Trades (k)123,562122,9390.5 %90,71936.2 %123,562122,9390.5 %Cboe Clear Europe Net Settlements (k)1,2341,05017.6 %1,1438.0 %1,2341,05017.6 %












1 In the second quarter of 2025, Digital futures products were transitioned to Cboe Futures Exchange. Futures metrics prior to the second quarter of 2025 exclude Digital futures products.January 2026 Trading Volume Highlights   U.S. Options A record 287 thousand S&P 500 Index (SPX) options contracts traded during Cboe's Global Trading Hours session (8:15 p.m. to 9:25 a.m. ET) on January 20, eclipsing the previous record set in April 2025.Mini-SPX (XSP) options set a monthly volume record in January, with an ADV of 150 thousand contracts.European EquitiesCboe Europe Periodic Auctions achieved a record monthly average daily notional value (ADNV) of €5.3 billion.Global FXGlobal FX set a new aggregate monthly ADNV record of $67.2 billion, driven by records in spot ADNV ($63.3 billion) and Cboe SEF (Swap Execution Facility) Non-Deliverable Forwards ADNV ($3.9 billion).About Cboe Global MarketsCboe Global Markets (Cboe: CBOE), the world's leading derivatives and securities exchange network, delivers cutting-edge trading, clearing, and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, and FX across North America, Europe, and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more, visit www.cboe.com.Cboe Media Contacts
Cboe Analyst ContactAngela TuTim Cave
Kenneth Hill, CFA
+1-646-856-8734+44 (0) 7593-506-719
+1-312-786-7559
atu@cboe.comtcave@cboe.com
khill@cboe.com






CBOE-VCboe®, Cboe Global Markets®, Cboe Clear®, Cboe Futures Exchange®, CFE®, Cboe Volatility Index®, and VIX® are registered trademarks of Cboe Exchange, Inc. or its affiliates. Standard & Poor's®, S&P®, SPX®, and S&P 500® are registered trademarks of Standard & Poor's Financial Services, LLC, and have been licensed for use by Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.Any products that have the S&P Index or Indexes as their underlying interest are not sponsored, endorsed, sold or promoted by Standard & Poor's or Cboe and neither Standard & Poor's nor Cboe make any representations or recommendations concerning the advisability of investing in products that have S&P indexes as their underlying interests. All other trademarks and service marks are the property of their respective owners.Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at:?https://www.cboe.com/us_disclaimers/. Options involve risk and are not suitable for all market participants. Prior to buying or selling an option, a person should review the Characteristics and Risks of Standardized Options (ODD), which is required to be provided to all such persons. Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606. 



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Original: Cboe Global Markets Reports Trading Volume for January 2026

CBOE new 52 week high

CBOE new 52 week high

CBOE new 52 week high

CBOE new 52=week high

CBOE new 52 week high

CBOE new 52 week high

CBOE new 52 week high

CBOE new 52 week high

Cboe Global Markets Inc Cboe Consolidated Listings: CBOE

GoSymbol lookup
Financials : Capital Markets | Company profile
Cboe Global Markets, Inc. is a provider of market infrastructure and tradable products, delivering trading, and clearing and investment solutions to market participants. Its segments include Options, North American Equities, Europe and Asia Pacific, Futures, Global FX., and Digital. The Options segment includes options on market indices (index options), as well as on the stocks of individual corporations (equity options). The North American Equities segment includes listed United States equities transaction services. The Europe and Asia Pacific segment includes the pan-European listed equities and derivatives transaction services, exchange-traded products (ETPs), exchange-traded commodities, and international depository receipts. The Futures segment includes transaction services provided by its electronic futures exchange, Cboe Futures Exchange, LLC (CFE). The Global FX segment includes institutional foreign exchange (FX) trading services. The Digital segment includes Cboe Digital.

CBOE: VIX - You will regret it later if you don't buy now!


Today may just be a wobble in the market or the start of a much greater fall coming. Complacency has set in and a 12% move in the VIX today was a warning shoot to us all. It would be very wise to accumulate at the current levels because a 20-30% spike will give a great hedge against a sudden drop in the market.

So what are we looking at for 5-year growth potential?

CBOE Dives After VIX Products Turmoil, Watch This Trade Level

The CBOE Global Markets Inc (NASDAQ:CBOE) has come under severe selling pressure this week. The catalyst for the decline in the CBOE stock has been caused by the products that are linked to the VIX volatility index. Today, the CBOE is trading lower by another $3.80 to 113.14 a share. The pattern on the chart indicates a weekly bearish engulfing bar in the making. This pattern should signal further downside in the near term before a true bottom is in place. Traders should note that the stock will have a major weekly retrace level around the $97.00 area. I will be looking to play this stock on the long side when the CBOE trades around this level.





Nicholas Santiago
InTheMoneyStocks

$CBOE

Cont.: The Winklevosses' Gemini exchange is even preparing to support the launch of CBOE's bitcoin futures and will be the "price mechanism for the contracts when they settle."

Cont.: "We've always felt that bitcoin, given its properties, is gold 2.0 - it disrupts gold. Gold is scarce, bitcoin is actually fixed. Bitcoin is way more portable and way more divisible," he told CNBC. "Long term, directionally, it is a multitrillion-dollar asset - I don't know

CBOE's plan to launch bitcoin futures contracts on Sunday, making it easier to bet against the cryptocurrency, is making some enthusiasts nervous, but not Cameron Winklevoss - one half of the twins reported to have just become the world's first bitcoin billionaires.

Wow!
Beautiful chart!

I am in as well, and i have a feeling this is about to get VERY interesting. Fist bumps to the posters here the last 2 days.

Well I am in let see if we can make some money

Well I guess I need to start buying this long term

I will be now. Bitcoin futures starts tomorrow and I assume that's why you are here too?

Anyone on this board?

Jeff Immelt, Peter Kellogg, Lloyd Blankfein, Gerald Putnam, Larry Leibowitz, Duncan Niederauer, Mark Zuckerberg, Greg Shrader, Tim Cook & John Colby,

I inserted the morelaw link and the collusion link twice in the summary for your Due Diligence.

Pat Bolland and CNBC Television was promoting Redibook on CNBC Television from the year 1999 and the year 2000.

CNBC Television and Pat Bolland was promoting a Phantom Company name Redibook owned by Spear Leeds & Kellogg that did not exist as a Corporation in the year 1999 and the year 2000.

Redibook owned by Spear Leeds & Kellogg was not registered as a Stock Exchange or a Broker Dealer with the NASD(FINRA) and the SEC in the year 1999 and the year 2000.

Feel free to view the Pat Bolland Market Wrap Segment Archives on CNBC Television from the year 1999 and the year 2000.

Redibook owned by Spear Leeds & Kellogg did not have a Website and had no Internet Presence in the year 1999 and the year 2000 or prior to those years for that matter.

On September 11 2000 Goldman Sachs acquired Redibook and Spear Leeds & Kellogg for 6.5 Billion Dollars while Richard Rosado was in active litigation with Spear Leeds & Kellogg, the active litigation between Spear Leeds & Kellogg and Richard Rosado ended on December 7 2000, Goldman Sachs conducted an Initial Public Offering in the year 1999 with the advanced motive of acquiring Spear Leeds & Kellogg and Redibook.

Goldman Sachs Initial Public Offering should be cancelled and the Goldman Sachs merger with Redibook and Spear Leeds & Kellogg should also be cancelled and the subsequent Mergers and Initial Public Offerings.

http://www.nasdr.com

http://www.finra.org

http://www.sec.gov

http://www.cnbc.com

http://en.wikipedia.org/wiki/Goldman_Sachs

http://www.goldmansachs.com/investor-relations/financials/archived/other-information/ipo-prospectus-gs-pdf-file.pdf

http://www.archipelago.com/content/press/releases_09_14_99.pdf

http://articles.chicagotribune.com/1999-09-15/business/9909150149_1_cnbc-archipelago-american-century-cos

http://en.wikipedia.org/wiki/Gerald_Putnam

http://www.marketwire.com/press-release/trumarx-names-jerry-putnam-chairman-and-chief-executive-officer-1396293.htm

http://www.trumarx.com

http://en.wikipedia.org/wiki/Pat_Bolland

http://en.wikipedia.org/wiki/Peter_Kellogg

http://www.iat-re.com/faq/faq.aspx

http://www.morelaw.com/verdicts/case.asp?n=99-CV-11417&s=NY&d=12227

http://www.goldmansachs.com/media-relations/press-releases/archived/2000/2000-09-11.html

http://www.ca2.uscourts.gov/decisions/isysquery/b2551779-ecad-43bd-8476-70dbcbd00e94/1/doc/00-7670_so.pdf

http://www.archipelago.com/content/press/releases_03_18_02.pdf

http://en.wikipedia.org/wiki/Pacific_Exchange

http://www.nytimes.com/2005/01/04/technology/04iht-arca.html

http://en.wikipedia.org/wiki/NYSE_Arca

http://www.theage.com.au/news/Business/NYSE-goes-public-in-merger-with-Archipelago/2005/04/21/1114028483162.html

http://www.nyse.com/press/1141083887100.html

http://en.wikipedia.org/wiki/Euronext

http://en.wikipedia.org/wiki/NYSE_Euronext

http://www.analysisgroup.com/cases.aspx?id=1961

http://www.nybx.com/about_us.htm

http://en.wikipedia.org/wiki/Collusion

http://en.wikipedia.org/wiki/Bear_Stearns

http://www.soros.org

http://en.wikipedia.org/wiki/Black_Wednesday

http://www.bankofengland.co.uk/markets/Pages/sterlingoperations/redbook.aspx

http://www.gao.gov/legal/redbook/redbook.html

http://www.ssa.gov/redbook/

http://www.redbookresearch.com

http://www.redbookllc.com

http://www.redi.co.uk

http://www.rediff.com

http://www.redibank.com

http://www.redington.co.uk

http://www.rediatm.com.au

http://www.credit-suisse.com

http://www.credit-agricole.com

http://www.redinews.com

http://www.rediregion.ca

http://www.rediex.gov.py

http://finance.yahoo.com/q?s=cs

http://finance.yahoo.com/q?s=redf

http://www.networksolutions.com/whois-search/redbookresearch.com

http://www.networksolutions.com/whois-search/redbookllc.com

http://www.networksolutions.com/whois-search/redi.co.uk

http://www.networksolutions.com/whois-search/rediff.com

http://www.networksolutions.com/whois-search/redibank.com

http://www.networksolutions.com/whois-search/redington.co.uk

http://www.networksolutions.com/whois-search/credit-suisse.com

http://www.networksolutions.com/whois-search/credit-agricole.com

http://www.networksolutions.com/whois-search/redinews.com

http://www.bricktowerpress.com

http://www.accel.com/global/people/specialty/all/Jim_Breyer

http://sec.gov/Archives/edgar/data/1326801/000119312512034517/d287954ds1.htm

http://www.morelaw.com/verdicts/case.asp?n=99-CV-11417&s=NY&d=12227

http://www.manatt.com/uploadedFiles/News_and_Events/Newsletters/Newsletter_Preview/Facebook%20v.%20Teachbook.pdf

http://iplaw.hllaw.com/uploads/file/98629.PDF

http://en.wikipedia.org/wiki/Deborah_Batts

http://en.wikipedia.org/wiki/Marvin_E._Aspen

http://en.wikipedia.org/wiki/Jed_S._Rakoff

http://en.wikipedia.org/wiki/Lewis_A._Kaplan

http://en.wikipedia.org/wiki/Robert_Katzmann

http://en.wikipedia.org/wiki/Ellsworth_Van_Graafeiland

http://en.wikipedia.org/wiki/Facebook

http://en.wikipedia.org/wiki/Royalties

http://www.facebook.com/yahoofinance

http://www.wi-fi.org/about/wi-fi-brand

http://www.marketwire.com/press-release/NuVasive-Announcement-Regarding-Trademark-Litigation-NASDAQ-NUVA-1342669.htm

http://en.wikipedia.org/wiki/Beige_Book

http://www.federalreserve.gov/fomc/beigebook

http://www.booksamillion.com

http://www.networksolutions.com/whois-search/booksamillion.com

http://www.apple.com/ibooks-author/

http://www.apple.com/mac/facetime/

http://en.wikipedia.org/wiki/Facetime

http://www.reebok.com

http://www.redbooks.ibm.com

http://www.redbook.com

http://www.bloombergtradebook.com

http://dealbook.nytimes.com

http://www.quickbooks.com

http://www.quickbooks.co.za

http://www.thetechherald.com/articles/Facebook-branded-a-bully-by-legal-target-Teachbook

http://www.teachbook.com

http://www.comfibook.com

http://www.macbookair.com

http://zenbook.asus.com

http://us.blackberry.com/playbook-tablet

http://www.skybooks.com

http://www.acer.com

http://www.acehardware.com

http://www.acegroup.com

http://www.face.com

http://www.facebook.com

http://www.faceoff.com

http://www.facecouncil.org

http://www.networksolutions.com/whois-search/faceoff.com

http://www.networksolutions.com/whois-search/facecouncil.org

http://finance.yahoo.com/q?s=ace

http://finance.yahoo.com/q?s=fb

http://finance.yahoo.com/q?s=aapl

http://finance.yahoo.com/q?s=bamm

http://finance.yahoo.com/q?s=ge

http://finance.yahoo.com/q?s=gs

http://finance.yahoo.com/q?s=nyx

http://finance.yahoo.com/q?s=nyse

http://en.wikipedia.org/wiki/Collusion

Best Regards
Richard Rosado

~ Tuesday! $CBOE ~ Q1 Earnings posted, pending or coming soon! In Charts and Links Below!

~ $CBOE ~ Earnings expected on Tuesday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=CBOE&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=CBOE&p=W&b=3&g=0&id=p54550695994



~ Google Finance: http://www.google.com/finance?q=CBOE
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=CBOE#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=CBOE+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=CBOE
Finviz: http://finviz.com/quote.ashx?t=CBOE
~ BusyStock: http://busystock.com/i.php?s=CBOE&v=2


<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=CBOE >>>>>>



http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

~ Thurs-Fri $CBOE ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $CBOE ~ Earnings expected on Thursday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=CBOE&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=CBOE&p=W&b=3&g=0&id=p54550695994



~ Google Finance: http://www.google.com/finance?q=CBOE
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=CBOE#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=CBOE+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=CBOE
Finviz: http://finviz.com/quote.ashx?t=CBOE
~ BusyStock: http://busystock.com/i.php?s=CBOE&v=2


<<<<<<http://www.earningswhispers.com/stocks.asp?symbol=CBOE>>>>>>



http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

Golden Shower.

Exchanges threaten to leave state of Illinois if tax burden is not lifted. Guess they just don't need to be located in Chicago anymore, too windy there...IMO

Heads up - 50/200 Crossover on deck. Might occur this week?

Wow, I didn't think CBOE would go this low..

(so far no position, looking for entry soon.)