Earnings summaries and quarterly performance for Cboe Global Markets.
Executive leadership at Cboe Global Markets.
Board of directors at Cboe Global Markets.
AJ
Alexander J. Matturri, Jr.
Detailed
Director
CH
Cecilia H. Mao
Detailed
Director
EJ
Edward J. Fitzpatrick
Detailed
Director
EA
Erin A. Mansfield
Detailed
Director
IK
Ivan K. Fong
Detailed
Director
JE
James E. Parisi
Detailed
Director
JP
Janet P. Froetscher
Detailed
Director
JJ
Jennifer J. McPeek
Detailed
Director
JR
Jill R. Goodman
Detailed
Director
RA
Roderick A. Palmore
Detailed
Director
WM
William M. Farrow, III
Detailed
Chairman
Research analysts who have asked questions during Cboe Global Markets earnings calls.
AK
Alex Kramm
UBS Group AG
4 questions for CBOE
Also covers: BR, CBRE, CME +15 more
DF
Daniel Fannon
Jefferies Financial Group Inc.
4 questions for CBOE
Also covers: AB, AMG, AMTD +27 more
KS
Kwun Sum Lau
Oppenheimer
4 questions for CBOE
Also covers: CLVT, CME, COIN +9 more
PM
Patrick Moley
Piper Sandler & Co.
4 questions for CBOE
Also covers: BGC, CME, COIN +17 more
Alexander Blostein
Goldman Sachs
3 questions for CBOE
Also covers: AB, AMG, AMP +31 more
Ashish Sabadra
RBC Capital Markets
3 questions for CBOE
Also covers: ADP, CLVT, CME +20 more
Benjamin Budish
Barclays PLC
3 questions for CBOE
Also covers: AB, APO, ARES +24 more
Craig Siegenthaler
Bank of America
3 questions for CBOE
Also covers: AB, AMP, AMTD +26 more
KW
Kenneth Worthington
JPMorgan Chase & Co.
3 questions for CBOE
Also covers: APO, ARES, BAM +27 more
Kyle Voigt
Keefe, Bruyette & Woods
3 questions for CBOE
Also covers: AMTD, APO, ARES +17 more
Brian Bedell
Deutsche Bank
2 questions for CBOE
Also covers: AMG, AMTD, APO +23 more
CA
Christopher Allen
Citigroup
2 questions for CBOE
Also covers: CME, ETOR, HOOD +9 more
Michael Cyprys
Morgan Stanley
2 questions for CBOE
Also covers: AAMI, AMP, AMTD +30 more
AC
Anthony Carbon
Goldman Sachs Group Inc.
1 question for CBOE
Ben Budish
Barclays PLC
1 question for CBOE
Also covers: AB, APO, ARES +20 more
EA
Eli Abboud
Bank of America
1 question for CBOE
Also covers: BGC, CME, MKTX +2 more
JS
Jeffrey Schmitt
William Blair
1 question for CBOE
Also covers: AIZ, AMP, FTDR +8 more
Stephanie Ma
Morgan Stanley
1 question for CBOE
Also covers: GCMG, HLNE, PX
WK
William Katz
TD Cowen
1 question for CBOE
Also covers: AB, AMG, AMTD +25 more
Recent press releases and 8-K filings for CBOE.
Cboe partner IPC Systems to distribute Vsense FPGA trading solutions globally
CBOE
Product Launch
- IPC Systems has been appointed exclusive global distributor and white-label reseller of Vsense’s FPGA-based low-latency trading solutions, covering Vlite, Vpass and Vpal products.
- The deal enables IPC to bypass software overhead for extreme speed in high-frequency trading and strengthens its competitive position in the Asia-Pacific market.
- Combining Vsense’s FPGA technology with IPC’s global service and regional exchange integrations will deliver next-generation risk management, data normalization and trading connectivity.
- Vsense, founded in 2021 and accredited by major exchanges including CME, CBOE and HKEX, will leverage IPC’s network to scale its hardware-accelerated infrastructure worldwide.
6 days ago
Verano upsizes revolving credit facility to $100 million and extends maturity
CBOE
Debt Issuance
- Verano increased its existing revolving credit facility commitment from $75 million to $100 million and extended the maturity date to February 28, 2029.
- The facility remains secured by existing real estate with no additional collateral required for the upsized commitment.
- As of Jan 15, 2026, $50 million has been drawn, leaving $50 million undrawn, at a floating rate of SOFR + 6% (4% floor) with no required amortization.
- Repayments may be made in $2.5 million increments (with an interest-only make-whole if repaid within six months) and allow proportional release of real estate collateral if debt ≤ 80% of appraised value.
Jan 15, 2026, 12:00 PM
Cboe Global Markets reports December and full-year 2025 trading volumes
CBOE
- December 2025 ADV highlights: multi-listed options at 11.55 M contracts (-2.6 % YoY); index options at 5.047 M (+25.7 %); futures at 179 k contracts (-15.9 %).
- Full year 2025 U.S. options set records with total volume of 4.6 B contracts and ADV of 18.4 M; SPX options ADV 3.9 M and 0DTE ADV 2.3 M.
- Cboe Europe Equities posted a record annual ADNV of €12.8 B and achieved 25 % market share; BIDS Trading off-exchange equities ADV reached 155.0 M matched shares.
- Global FX recorded a spot ADNV record of $49.7 B, surpassing the prior record of $45.4 B.
Jan 6, 2026, 9:30 PM
Cboe Global Markets launches 21Shares XRP ETF (TOXR)
CBOE
Product Launch
- 21Shares XRP ETF (TOXR) launched on Cboe with a 0.30% TER.
- Not registered under the Investment Company Act of 1940, TOXR carries heightened volatility and significant risk and is not a direct XRP investment.
- Employs a multi-custody model with Coinbase, Anchorage Digital Bank, and BitGo to safeguard assets.
- Flow Traders acts as lead market maker, providing liquidity for TOXR shares.
- Since entering the US market in 2022, 21Shares has grown to >$8 billion AUM across five ETPs as of November 2025.
Dec 11, 2025, 2:30 PM
Cboe outlines strategic realignment and growth initiatives at Goldman Sachs U.S. Financial Services Conference
CBOE
Share Buyback
Guidance Update
- Cboe will divest its Australia, Canada and Japan securities trading businesses, targeting completion in 2026 to refocus on core U.S. derivatives and equities growth areas.
- CFO Jill Griebenow expects these divestitures to reduce consolidated net revenue by 3% and deliver 8–10% in phased expense savings off a 2025 base.
- The SPX options franchise, led by 0DTE, is growing rapidly—retail and institutional usage now roughly 50/50, with ~200,000 five-delta spreads traded daily—driving SPX complex market share to the mid-70s%.
- Data Vantage revenue guidance for 2025 was raised to high single to low double digits, with 90% of Q3 net revenue growth from new unit additions.
- Cboe maintains $1.5 billion in cash as of September 30 and will continue an opportunistic share buyback program while redeploying proceeds into core priorities.
Dec 9, 2025, 2:20 PM
Cboe outlines 2026 strategic realignment and growth priorities
CBOE
Revenue Acceleration/Inflection
New Projects/Investments
Share Buyback
- Cboe plans to divest its Japan, Australia and Canada businesses largely in 2026, expecting a 3% reduction in net revenue and 8–10% in expense savings on the 2025 base, with proceeds to be reinvested into core growth areas.
- The SPX options complex, led by zero DTE, has seen 20% annual growth in 2025 and now comprises ~60% of SPX ADV, with institutional participation rising toward 50%.
- The firm will build event and prediction markets for economic and securities-related contracts (not sports) organically, leveraging its SPX/zero DTE infrastructure and focusing on product integrity and customer education.
- Data Vantage revenue guidance was raised to high single–low double digits for 2025, driven 90% by new unit additions (e.g., dedicated cores, timestamping enhancements).
- Cboe holds $1.5 billion in cash (as of Sep 30), will remain opportunistic on share buybacks, and sees no material M&A in the near term.
Dec 9, 2025, 2:20 PM
Cboe Global Markets reports November 2025 trading volumes
CBOE
- Cboe’s average daily trading volume in November 2025 rose 16.8% YoY to 14.43 million multi-listed options contracts and 41.4% YoY to 5.86 million index options contracts.
- U.S. equities on-exchange ADV reached 1.802 billion shares (+12.5% YoY) and off-exchange ADV was 202 million shares (+115.0% YoY).
- European equities ADV was €12.772 billion (+13.4% YoY) and Global FX ADV hit $53.120 billion (+7.2% YoY).
- Cboe set new monthly ADV records in its proprietary index options suite: 5.9 million overall contracts, 4.6 million SPX options, and 2.8 million SPX 0DTE options.
Dec 3, 2025, 9:59 PM
Cboe to offer nearly 24-hour trading for Russell 2000 options
CBOE
Product Launch
- Nearly 24x5 trading: Cboe will extend Russell 2000 Index (RUT) options trading to nearly 24 hours a day, five days a week, by adding a Global Trading Hours overnight session starting February 9, 2026.
- Extended hours: RUT options will trade from 8:15 p.m. ET to 9:25 a.m. ET in GTH, complementing the existing 9:30 a.m.–4:15 p.m. ET session.
- Volume growth: As of end-November 2025, average daily RUT options volume reached ~75,000 contracts, up 66% vs. full-year 2022, reflecting strong global demand.
- Global access: Expanded hours aim to help investors worldwide respond to market events and manage U.S. small-cap exposure more effectively.
Dec 2, 2025, 11:45 PM
Cboe Global Markets to launch Magnificent 10 Index futures and options
CBOE
Product Launch
- Cboe Global Markets will begin trading futures and options on the Cboe Magnificent 10 Index (MGTN) on December 8, 2025.
- The equal-weighted index, launched October 14, 2025, tracks the price return of 10 large-cap U.S. tech and growth stocks.
- Both products are cash-settled: futures will trade on Cboe Futures Exchange with a.m. settlement; options will trade on Cboe Options Exchange under tickers MGTN (AM-settled) and MGTNW (PM-settled) with a $100 multiplier.
- MGTN futures will be available nearly 24 hours a day at launch, and Cboe plans to offer global trading hours for MGTN options in early 2026.
Nov 18, 2025, 3:00 PM
Cboe Global Markets to Launch Bitcoin and Ether Continuous Futures on December 15, 2025
CBOE
Product Launch
- Cboe Futures Exchange to begin trading Cboe Bitcoin Continuous Futures (PBT) and Cboe Ether Continuous Futures (PET) on December 15, 2025, subject to regulatory review.
- The contracts offer U.S.-regulated perpetual-style exposure with a 10-year expiration and daily cash adjustments to align futures and spot prices.
- Continuous Futures will be centrally cleared by Cboe Clear U.S., trade on a 23×5 schedule, and use the Cboe Kaiko Real-Time Rate for settlement.
- Investors can leverage streamlined rolling, potential cross-margining with existing CFE products (e.g., FBT, FET), and attend educational sessions on December 17, 2025 and January 13, 2026.
Nov 17, 2025, 3:00 PM
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