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Cboe Global Markets, Inc.
FormerlyCBOE Holdings, Inc.
Company type Public company
IndustrySecurity & commodity exchanges
Foundedas Chicago Board Options Exchange 1973; 51 years ago (1973)
Founder Chicago Board of Trade
Headquarters
Chicago, Illinois
,
U.S.
Key people
  • Fredric J Tomczyk ( CEO)
  • Chris Isaacson ( COO)
  • Jill Griebenow ( CFO)
RevenueDecrease US$3.77 billion (2023)
Increase US$1.06 billion (2023)
Increase US$761 million (2023)
Total assetsIncrease US$7.49 billion (2023)
Total equityIncrease US$3.99 billion (2023)
Number of employees
1,647 (2023)
Website cboe.com
Footnotes / references
[1]

Cboe Global Markets is an American company that owns the Chicago Board Options Exchange and the stock exchange operator BATS Global Markets.

History

Founded in 1973 by the Chicago Board of Trade and member owned for several decades, on March 11, 2010 the Chicago Board Options Exchange (CBOE) filed paperwork to launch an initial public offering [2] and began trading on the NASDAQ stock exchange on June 15, 2010. [3]

In September 2011, CBOE Stock Exchange (CBSX) entered into an agreement to acquire the National Stock Exchange. The acquisition was completed on December 30, 2011 with both exchanges to operate under separate names. The National Stock Exchange continued to be based in Jersey City. [4] The National Stock Exchange ceased trading operations on May 30, 2014. The closure brought the number of active stock exchanges in the United States to 11, as the CBOE Stock Exchange had closed the month prior. Wrote Bloomberg, that left "just one public exchange, Chicago Stock Exchange Inc., that isn't owned by Bats, Nasdaq OMX Group Inc., or IntercontinentalExchange Group Inc." [5]

In June 2015, CBOE announced its acquisition of the LiveVol platform, a market data services provider. [6]

In January 2016, CBOE announced it had purchased a majority stake in Vest Financial, an investment adviser specializing in "options-centric products". [7]

In September 2016, it was announced that CBOE was purchasing BATS Global Markets, effective in early 2017, for approximately US$3.2 billion. [8]

In October 2017, the company rebranded from CBOE Holdings to Cboe Global Markets in a global rebrand. [9]

In June 2021, Cboe announced that it had completed its acquisition of Chi-X Asia Pacific which had operated an alternative market operator and provided innovative market solutions. Through the acquisition, Cboe established a significant presence in the Asia Pacific region for the first time by gaining access to two of the world's largest securities markets in Japan and Australia. [10]

In May 2022, Cboe completed its acquisition of Eris Digital Holdings (ErisX), a US-based digital asset spot market, regulated futures exchange, and regulated clearinghouse. [11] [12] [13]

Operations

The company operates in North America, Europe and Asia-Pacific, providing platforms for trading options, futures, equities, and foreign exchange. [14] [15] It has stock exchanges in the US, Canada, the Netherlands and Australia. [16] Its Canadian operations, Cboe Canada, accounts for 15% of the trading in securities listed in Canada by volume. [17] In Australia, the company operates Cboe Australia, following Cboe's acquisition of Chi-X in Australia and Japan. [18] Its European operations, Cboe Europe, is based in London and Amsterdam. [19] By trading volume, Cboe's stock exchanges are the largest in Europe, second-largest in Canada and third largest in the US. [18]

In addition to its exchanges, Cboe operates clearing houses. [18] These include its European clearing house, Cboe Clear Europe. [20] The company also has a cryptocurrency exchange, Cboe Digital, for exchanging crypto currencies and derivatives. The platform, originally ErisX, was acquired by Cboe in 2021. [21]

The company is headquartered in Chicago, where it operates a trading floor for open outcry trading. [22]

Cboe has two main proprietary index options products, options on the VIX Index, an index that measures expectations for stock market volatility [23] and options on SPX, the Standard & Poor’s 500 index. [14] The company also provides platforms for trading options on other indices, including the Russell 2000 Index. [22]

As of 2023, Fredric Tomczyk is the company's CEO and has served as a Cboe board member since 2019. [23]

See also

References

  1. ^ "CBOE Global Markets 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 16 February 2024.
  2. ^ "CBOE files paperwork for IPO". Chicago Breaking Business. Archived from the original on 2010-03-14. Retrieved 2017-04-30.
  3. ^ Oneal, Michael (June 15, 2010). "CBOE garners $339 million in IPO". Chicago Tribune. Retrieved October 17, 2013.
  4. ^ "CBOE Stock Exchange Completes Acquisition of National Stock Exchange". ir.cboe.com (Press release). 9 January 2012. Archived from the original on 9 May 2012. Retrieved 14 February 2013.
  5. ^ Mamudi, Sam (2014-05-02). "National Stock Exchange Files With SEC to Halt Operations". Bloomberg.com. Bloomberg News. Retrieved 2014-06-15.
  6. ^ "Chicago Board Options Exchange - The World's Largest Options Exchange". ir.cboe.com (Press release). June 2, 2015. Retrieved 2016-05-12.
  7. ^ "Chicago Board Options Exchange - The World's Largest Options Exchange". ir.cboe.com (Press release). January 25, 2016. Retrieved 2016-05-12.
  8. ^ "CBOE Will Acquire BATS Global Markets for $3.2 Billion". fortune.com. 26 September 2016. Retrieved 27 September 2016.
  9. ^ "CBOE Holdings Becomes Cboe Global Markets, Unveils New Corporate Identity" (PDF). ir.cboe.com (Press release). October 17, 2017. Retrieved May 29, 2019.
  10. ^ "Cboe Global Markets Completes Acquisition of Chi-X Asia Pacific". www.prnewswire.com. Retrieved 1 February 2023.
  11. ^ "Cboe Global Markets completes acquisition of ErisX - The TRADE". www.thetradenews.com. Retrieved 2022-05-03.
  12. ^ "CBOE completes acquisition of ErisX". Finextra Research. 2022-05-03. Retrieved 2022-05-03.
  13. ^ "Cboe Global Markets acquires ErisX". www.hedgeweek.com. 2022-05-03. Retrieved 2022-05-03.
  14. ^ a b S, Siddarth; Mccrank, John (2023-05-05). "Exchange operator Cboe profit rises as market volatility lifts trading volumes". Reuters. Retrieved 2023-12-12.
  15. ^ Ossinger, Joanna (2020-06-10). "Cboe Revives Mini VIX Product Aimed at CTAs, Retail Traders". Bloomberg. Retrieved 2024-01-04.
  16. ^ "Exchange operator Cboe launches global listing offering". Reuters. 2023-06-02. Retrieved 2023-12-12.
  17. ^ Morgan, Geoffrey (2023-06-14). "Toronto Exchange Operator Eyes New Venue for Fledgling Firms". Bloomberg.com. Retrieved 2023-12-13.
  18. ^ a b c Durie, John (2022-01-18). "Cboe to give ASX a run for its money". The Australian. Retrieved 2023-12-13.
  19. ^ Moon, Louise (2021-01-04). "€6bn of City trading jumps ship to the EU". The Telegraph. ISSN  0307-1235. Retrieved 2023-12-13.
  20. ^ Haswell, Carmella (2023-06-14). "Cboe Clear Europe to introduce clearing service for SFTs". Securities Finance Times. Retrieved 2024-01-04.
  21. ^ Daniels, Steve (2022-12-13). "What does the crypto collapse mean for Chicago's exchanges?". Crain's Chicago Business. Retrieved 2023-12-13.
  22. ^ a b Roeder (2022-06-06). "'Open outcry' trading cranks up the volume at Chicago's equity options market, 'open outcry' cranks up the volume - Chicago Sun-Times". Retrieved 2023-12-13.
  23. ^ a b Hughes, Jennifer; Chávez, Steff (2023-09-19). "Cboe chief resigns over undisclosed relationships with colleagues". The Financial Times. Retrieved 2023-12-13.

External links

  • Official website
  • Business data for Cboe Global Markets:
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