Financial Performance - Cboe reported record net revenue of $513.8 million for Q2 2024, an increase of 10% compared to $467.1 million in Q2 2023[2] - Total revenues for Q2 2024 reached $974.0 million, a 7.3% increase from $907.8 million in Q2 2023[21] - Net income allocated to common stockholders for Q2 2024 was $139.7 million, down from $167.0 million in Q2 2023, representing a decrease of 16.5%[21] - Basic earnings per share for Q2 2024 were $1.33, compared to $1.58 in Q2 2023, reflecting a decline of 15.8%[21] - Operating income for Q2 2024 was $210.1 million, a decrease of 14.2% from $244.8 million in Q2 2023[21] - Adjusted diluted earnings per share for the three months ended June 30, 2024, was $2.15, up from $1.78 in the same period of 2023, indicating an increase of 20.8%[29] - Adjusted operating income for the three months ended June 30, 2024, was $316.7 million, compared to $274.8 million in the same period of 2023, showing an increase of 15.2%[29] Expenses and Costs - Total operating expenses rose to $303.7 million, a 37% increase from $222.3 million in Q2 2023, primarily due to impairment of intangible assets[5] - Total operating expenses for Q2 2024 were $303.7 million, up from $222.3 million in Q2 2023, reflecting an increase of 36.6%[21] - Total cost of revenues for the three months ended June 30, 2024, was $460.2 million, up from $440.7 million in the same period of 2023, which is an increase of 4.0%[25] - Adjusted operating expenses for 2024 are expected to be between $795 million and $805 million, excluding $92 million of amortization of acquired intangible assets[10] - Depreciation and amortization expense for 2024 is expected to be in the range of $43 million to $47 million, excluding amortization of acquired intangible assets[10] Revenue Growth and Projections - Cboe anticipates organic total net revenue growth for 2024 to be in the range of 6-8%, up from the previous guidance of 5-7%[3] - Options net revenue increased by 8% to $306.7 million, driven by a 9% increase in index options trading volumes[6] - North American Equities net revenue reached $98.3 million, an 8% increase, with net transaction and clearing fees up by 25%[8] - Europe and Asia Pacific net revenue grew by 15% to $54.3 million, with a 4% increase in average daily notional value traded[8] - Global FX net revenue was $19.8 million, an 11% increase, with average daily notional value traded on the Cboe FX platform rising to $47.7 billion[8] - Data and Access Solutions anticipates organic net revenue growth in the range of 7 to 10 percentage points for 2024[10] Assets and Liabilities - Total current assets increased significantly to $3,899.5 million as of June 30, 2024, up from $1,979.3 million at the end of 2023, marking an increase of 96.7%[23] - Total assets rose to $9,255.6 million as of June 30, 2024, compared to $7,487.5 million at the end of 2023, an increase of 23.6%[23] - Total liabilities increased to $5,233.9 million as of June 30, 2024, up from $3,502.5 million at the end of 2023, representing a rise of 49.4%[23] Cash Flow and Dividends - The company paid cash dividends of $58.2 million, or $0.55 per share, during the second quarter of 2024[11] - Approximately $204.4 million of availability remains under existing share repurchase authorizations as of June 30, 2024[11] - Minority investments are expected to contribute a benefit of $37 million to $43 million to non-operating income in 2024[10] - The effective tax rate on adjusted earnings for the full year 2024 is expected to be in the range of 28.5% to 30.5%[10] Market Performance - Total industry ADV for options in Q2 2024 was 46,129 thousand, a decrease from 47,452 thousand in Q1 2024[17] - U.S. Equities exchange market share decreased to 11.4% in Q2 2024 from 12.8% in Q1 2024[17] - Canadian Equities ADV increased to 150.6 million in Q2 2024 from 146.3 million in Q1 2024, with a market share of 15.0%[17] - European Equities total industry ADNV in Q2 2024 was €42.6 billion, up from €41.8 billion in Q1 2024[17] - Global FX spot market share was 20.2% in Q2 2024, a slight decrease from 20.3% in Q1 2024[17] Impairments and Acquisitions - The Digital segment recorded an impairment of intangible assets of $81.0 million related to the wind down of the Cboe Digital spot market[8] - The company reported acquisition-related costs of $0.6 million for the three months ended June 30, 2024[32] - Impairment of intangible assets amounted to $81.0 million for the three months ended June 30, 2024[32] Other Financial Metrics - Cboe's adjusted EBITDA margins reached 67% in the first half of 2024, up more than two percentage points compared to the same period in 2023[3] - Adjusted EBITDA for the three months ended June 30, 2024, increased to $340.7 million, with an adjusted EBITDA margin of 66.3%, compared to $293.3 million and 62.8% in the same period of 2023[32] - The adjusted operating margin for the three months ended June 30, 2024, was 61.6%, compared to 58.8% in the same period of 2023, reflecting an improvement of 4.8 percentage points[29]

Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period. The combined assessment of analysts suggests that 'Revenues- Market data fees' will likely reach $75.41 million. The estimate points to a change of +2.6% from the year-ago quarter. The consensus estimate for 'Revenues- Transaction and clearing fees' stands at $737.28 million ...

Newly redesigned product aims to bring OTC variance swaps trading to the exchange-listed market Simplifies trading and settlement, while offering benefits of price discovery, central clearing and liquidity Product addresses customer feedback and improves upon Cboe's previous variance futures offerings Cboe's new VA futures aim to introduce a simplified approach to variance trading and settlement, providing an exchange-listed alternative to over-the-counter (OTC) variance swaps. Market participants may use t ...

Core Viewpoint - CBOE Global has demonstrated a consistent ability to exceed earnings estimates, with a notable average surprise of 3.69% over the last two quarters [1]. Earnings Performance - For the last reported quarter, CBOE achieved earnings of $2.15 per share, surpassing the Zacks Consensus Estimate of $2.04 per share, resulting in a surprise of 5.39% [5]. - In the previous quarter, CBOE was expected to report earnings of $2.02 per share but delivered $2.06 per share, yielding a surprise of 1.98% [5]. Earnings ESP and Analyst Sentiment - CBOE currently has an Earnings ESP of +4.37%, indicating a positive outlook from analysts regarding its near-term earnings potential [7]. - The combination of a positive Earnings ESP and a Zacks Rank 3 (Hold) suggests a strong likelihood of another earnings beat in the upcoming report [6][7]. Investment Consideration - CBOE is positioned well within the Zacks Securities and Exchanges industry, making it a potential candidate for investors seeking stocks with a solid history of beating earnings estimates [9].

First-of-its-kind, exchange-operated trajectory crossing service for European equities, enabling participants to source and match liquidity based on a standard VWAP methodology Offered through Cboe BIDS Europe, the region's largest block trading platform, utilising its proven conditional trade negotiation and execution workflow Stephen Berte, President, BIDS Trading, said: "Cboe BIDS VWAP-X demonstrates our commitment to innovation and developing new products that meet the evolving needs of our clients and ...

Cboe Global Markets: Based in Chicago, IL, Cboe Global, currently carrying a Zacks Rank #3, is one of the largest stock exchange operators by volume in the United States and globally for ETP trading. The company is poised for growth, given an expanding product line across asset classes, broadening geographic reach and a diversifying business mix with recurring revenues and technology. Mergers and acquisitions: The industry continues to witness mergers and acquisitions, with companies evaluating opportunitie ...

BOCA RATON, Fla., June 24, 2024 (GLOBE NEWSWIRE) -- Vocodia Holdings Corp (CBOE: VHAI) ("Vocodia" or the "Company"), a leader in AI software development focusing on practical AI applications, today announced that it has received a Staff Delisting Determination from the CBOE BZX Exchange, Inc. (CBOE) regarding its common shares and warrants. The determination cites non-compliance with the Minimum Bid Price requirement and other continued listing standards as the primary reasons for the delisting notice. The ...

Even better, in the current environment of low volatility, it continues to do well, as the first quarter's average daily volume ("ADV") for SPX contracts surged by 17% year-over-year to 3.2 million contracts. Meanwhile, the Data and Access Solutions business saw an 8% year-over-year organic net revenue increase, driven by global client expansion and additional unit sales. The company has also achieved major milestones in Europe and the Asia-Pacific region. For example, Cboe Europe became the largest exchang ...

FORT LAUDERDALE, Fla., June 21, 2024 (GLOBE NEWSWIRE) -- ZEFIRO METHANE CORP. (Cboe Canada: ZEFI) (Frankfurt: Y6B) (the "Company", "Zefiro", or "ZEFI") is pleased to announce that at noon Eastern time on Tuesday, June 25, 2024, the Cboe Canada, Inc. ("Cboe Canada") exchange will be hosting an Investor Spotlight event featuring Talal Debs PhD, Founder and Chief Executive Officer ("CEO") of Zefiro. On Tuesday, April 23, 2024, Debs and other Zefiro leadership team members "Rang the Bell" at the Cboe Canada exc ...

Cboe Global Markets' (CBOE) strong market position, global reach, proprietary products strength and solid capital position poise it well for long-term growth. These, along with solid growth projections, make the stock worth retaining. This Zacks Rank #3 (Hold) company has a VGM Score of A. The score helps to identify stocks with the most attractive value, growth and momentum. Price Performance Northbound Estimates Return on invested capital ("ROIC) has hovered around 10% over the last few years and outperfo ...