New CFTC-regulated options on futures will physically settle into front-month Cboe Volatility Index (VIX) Futures Designed to offer market participants the ability to more granularly manage volatility Further expansion of Cboe's volatility complex following launch of Cboe S&P 500 Variance (VA) futures CHICAGO, Oct. 9, 2024 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced its new Options on Cboe Volatility Index (VIX) Fut ...

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Cboe Global Markets, Inc. (CBOE) shares are trading at a discount to the Zacks Securities and Exchange industry. Its forward price-to-earning of 22.50X is lower than the industry average of 23.61X. This company has a market capitalization of $21.2 billion. The average volume of shares traded in the last three months was 0.8 million. The stock remains attractively valued compared with other players like Intercontinental Exchange Inc. (ICE) and Nasdaq Inc. (NDAQ) . Image Source: Zacks Investment Research CBOE ...

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Core Viewpoint - The Zacks Securities and Exchanges industry is experiencing growth driven by increased trading volumes, product diversification, and the adoption of crypto assets, although it faces challenges from regulatory compliance and market volatility [1][2]. Industry Overview - The industry consists of companies that operate electronic marketplaces for trading stocks, options, bonds, and commodity contracts, generating revenue from fees and providing data and listing services [2]. - There is a notable increase in the adoption of crypto assets, but regulatory compliance presents challenges for industry players [2]. Trends Shaping the Industry - **Volatility Fueling Trading Volume**: Trading volatility is essential for revenue growth, as it increases transaction and clearing fees, which are significant revenue components [3]. - **Mergers and Acquisitions**: Companies are actively pursuing mergers and acquisitions to enhance growth, diversify product offerings, and strengthen market positions [4]. - **Continuous Investment in Technology**: Heavy investments in technology, particularly in AI and automation, are crucial for improving trading efficiency and reducing risks [5]. Industry Performance - The Zacks Securities and Exchanges industry ranks 158 out of 251, indicating it is in the bottom 37% of Zacks industries, reflecting a negative earnings outlook [6][7]. - Over the past year, the industry has underperformed compared to the broader Zacks Finance sector and the S&P 500, with a gain of 20.5% versus 25.7% for the sector and composite [9]. Valuation Metrics - The industry currently trades at a trailing 12-month price-to-book (P/B) ratio of 3.6X, lower than the S&P 500's 8.55X and the sector's 3.75X [10]. - Historical P/B ratios for the industry range from a high of 4.01X to a low of 2.38X over the past five years [10]. Company Insights - **Nasdaq**: Focused on maximizing non-trading revenue and expanding its technology and analytics services, with a consensus estimate indicating a 12.8% increase in EPS for 2025 [13][14]. - **Intercontinental Exchange (ICE)**: A leading global operator with a strong portfolio and expected EPS growth of 7.5% and 10.5% for 2024 and 2025, respectively [15][16]. - **Cboe Global Markets**: Positioned for growth with an expanding product line and expected EPS increases of 10.5% and 5.5% for 2024 and 2025 [17][18]. - **CME Group**: The largest futures exchange globally, with a focus on expanding product offerings and expected EPS growth of 6.4% for 2024 [19]. - **MarketAxess**: A leading trading platform with expected EPS growth of 3.1% and 12.8% for 2024 and 2025, respectively [21][22].

Core Viewpoint - Cboe Global Markets is launching the Cboe S&P 500 Variance Futures on September 23, 2024, to provide market participants with tools to manage volatility risks and capitalize on U.S. equity market fluctuations during uncertain macroeconomic conditions [1][2][3]. Group 1: Product Overview - The Cboe S&P 500 Variance Futures are designed to help market participants calculate implied volatility of the S&P 500 Index and manage volatility risks [2][3]. - These futures will offer a streamlined approach to trading the spread between implied and realized volatility, allowing participants to exploit discrepancies between market expectations and actual outcomes [2][3]. - The contracts will settle based on the annualized realized variance of the S&P 500 Index, calculated daily from the closing index value [4][5]. Group 2: Market Context and Demand - The launch is timely, coinciding with heightened risk management needs due to the upcoming U.S. election, changing monetary policy, and ongoing geopolitical tensions [3][4]. - There is a growing demand for hedging and income generation strategies, prompting Cboe to simplify complex trading strategies and broaden access to derivatives markets [3][4]. Group 3: Target Audience - The new product is expected to attract a diverse range of market participants, including volatility traders, hedge funds, institutional investors, and portfolio managers seeking capital efficiency and enhanced diversification [3][4]. - Market participants transitioning from OTC variance swaps to standardized products will find the Cboe S&P 500 Variance Futures particularly appealing [3][4]. Group 4: Future Developments - Cboe plans to introduce options on VIX Futures starting October 14, 2024, further expanding its SPX and VIX product suite to meet customer demand [6].

Core Points - Vocodia Holdings Corp. has received a delisting notice from Cboe BZX Exchange, with trading of its Common Stock (VHAI), Series A Warrants (VHAI+A), and Series B Warrants (VHAI+B) suspended after September 10, 2024 [1] - The company plans to pursue a listing on the OTCQB, aligning with its strategic goals, and expects trading to commence on September 11, 2024, under the symbol "VHAI" [2] - Despite the delisting, Vocodia will remain registered with the Securities and Exchange Commission and will continue to meet its reporting obligations under the Securities Exchange Act of 1934 [3] Company Overview - Vocodia is an AI software company that develops practical AI solutions accessible for businesses through cloud-based platforms, focusing on cost-effective and scalable enterprise-level solutions [4] - The company specializes in conversational AI, providing scalable AI sales and customer service solutions through its Digital Intelligent Sales Agents (DISAs), which are designed to perform human-like conversations [4]

Volatility Metrics - The VIX is averaging 17.0 in 3Q24TD, which is up 13% from 16.5 in 3Q23 and up 21% from 14.0 in 2Q24 [5] - Realized volatility, as measured by daily changes in the S&P 500, is tracking at 17.6 in 3Q24TD, up 37% from 12.9 in 3Q23 and up 39% from 12.7 in 2Q24 [5][6] U.S. Equities and Options Volumes - Total U.S. equity volumes are averaging 11.4 billion per day in 3Q24TD, up 10% from 10.4 billion in 3Q23 but down 3% from 11.8 billion in 2Q24 [7] - U.S. equity option volumes are averaging 45 million per day, up 14% from 3Q23 and up 8% from 42.1 million in 2Q24 [7] - Industry index option volumes are averaging 4.4 million per day in 3Q24TD, up 16% from 3.8 million in 3Q23 and up 8% from 2Q24 [7] Exchange Specific Volumes - Nasdaq's U.S. equity volume is averaging 1.8 billion per day in 3Q24TD, up 9% from 3Q23 but down 3% from 2Q24 [10] - Cboe's U.S. equity volume is averaging 1.3 billion per day in 3Q24TD, down 3% from 3Q23 and down 4% from 2Q24 [11] - Intercontinental Exchange's U.S. equity volume is averaging 2.2 billion per day in 3Q24TD, up 6% from 3Q23 but down 12% from 2Q24 [13] CME Group Performance - CME Group's total futures and options complex volume is averaging 28.4 million contracts per day in 3Q24TD, up 27% year-over-year and up 9% from 2Q24 [15] - Interest Rate futures and options are averaging 15.0 million contracts per day, up 37% year-over-year and up 19% from 2Q24 [15][16] Revenue Implications for Exchanges - CME Group shows the strongest potential for year-over-year transaction revenue improvement in 3Q24TD [18] - Cboe is expected to see significant transaction revenue growth driven by strength in index options and futures volumes [18] - Intercontinental Exchange is also projected to have meaningful year-over-year transaction revenue growth, primarily from energy and financial futures [18]

Core Insights - Zacks Premium provides various tools for investors to enhance their stock market engagement and confidence [1][2] - The Zacks Style Scores are designed to complement the Zacks Rank, helping investors identify stocks likely to outperform the market in the short term [3][4] Zacks Style Scores - The Style Scores categorize stocks into four types: Value Score, Growth Score, Momentum Score, and VGM Score, each focusing on different investment strategies [4][5][6] - Value Score identifies undervalued stocks using financial ratios [4] - Growth Score assesses stocks based on future earnings and financial health [5] - Momentum Score tracks price trends to identify optimal buying opportunities [5] - VGM Score combines the three styles to highlight stocks with the best overall potential [6] Zacks Rank - The Zacks Rank is a proprietary model that leverages earnings estimate revisions to guide investors in stock selection [7] - Stocks rated 1 (Strong Buy) have historically achieved an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [8] - Investors are encouraged to focus on stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B for optimal investment potential [9][10] Company Spotlight: Cboe Global Markets - Cboe Global Markets, a major stock exchange operator, currently holds a Zacks Rank of 3 (Hold) and a VGM Score of B [11] - The company has a Momentum Style Score of A, with shares increasing by 13% over the past four weeks [12] - Analysts have raised Cboe's earnings estimate for fiscal 2024, with the consensus now at $8.62 per share, reflecting a positive earnings surprise trend [12]

Dividend Increases Overview - Fourteen companies are set to increase their dividends, including two Dividend Kings: Nordson Corporation (NDSN) with a 14.7% increase and Dover Corporation (DOV) with a 1% increase [2] - The average dividend increase across the group is 10.9%, with a median increase of 7.9% [2] - People's Financial Services Corp is notable for a significant 50% increase in its dividend [2] Dividend Streak Categories - Companies are categorized based on their dividend growth history: - Kings (50+ years): 2 companies - Champions (25+ years): 2 companies - Contenders (10-24 years): 6 companies - Challengers (5+ years): 4 companies [7] Upcoming Dividend Increases - The list of companies with their respective details includes: - Cactus, Inc. (WHD): 5-year streak, 8.33% increase - Murphy USA Inc. (MUSA): 5-year streak, 2.27% increase - Nordson Corporation (NDSN): 61-year streak, 14.71% increase - Dover Corporation (DOV): 69-year streak, 0.98% increase - Peoples Financial Services Corp. (PFIS): 8-year streak, 50.61% increase [8][11] Ex-Dividend Date Explanation - The ex-dividend date is crucial for investors to qualify for upcoming dividends, requiring shares to be purchased by the end of the preceding business day [5] Performance Metrics - Current prices, 52-week lows, 52-week highs, and P/E ratios for the companies are provided, indicating their market performance and valuation [13] - Notable metrics include: - CBOE: 366% total return - RBA: 329% total return - NDSN and GS: 244% total return each [20] Investment Strategy Insights - The investment strategy focuses on companies with consistent dividend growth and performance exceeding benchmarks, specifically using the Schwab U.S. Dividend Equity ETF (SCHD) as a reference [19] - Companies like CBOE and RBA are highlighted for their strong total return profiles and consistent historical dividend growth, suggesting potential for future investment [21]