Regulatory Scrutiny - Hong Kong regulators are investigating potential insider trading allegations [1] - The investigation involves personnel from the Hong Kong Stock Exchange (HKEX) and the Securities and Futures Commission (SFC) [1] - Social media influencers are also implicated in the alleged insider trading scheme [1] - The investigation has been ongoing for several months [1] Allegations - Regulators are suspected of leaking upcoming announcements of dozens of listed companies over the past few years [1]

Group 1 - Nasdaq will host its 2026 Investor Day on February 25, 2026, at its Global Headquarters in Times Square, New York [1] - A slide presentation and live webcast will be available on Nasdaq's Investor Relations website on the day of the event [1] - A detailed agenda for the Investor Day will be provided at a later date [1] Group 2 - Nasdaq is a leading global technology company serving various financial market participants, including corporate clients, investment managers, banks, brokers, and exchange operators [2] - The company aims to deliver platforms that enhance liquidity, transparency, and integrity in the global economy [2] - Nasdaq offers a diverse range of data, analytics, software, exchange capabilities, and client-centric services to help clients achieve their business objectives [2]

Summary of Key Points Core Viewpoint - The total short interest in Nasdaq securities has increased, indicating a growing bearish sentiment among investors as of the settlement date of August 15, 2025 Group 1: Nasdaq Global Market - Short interest in 3,302 Nasdaq Global Market securities totaled 13,965,671,937 shares, up from 13,683,072,188 shares in the previous period [1] - The mid-August short interest represents an average of 2.34 days, compared to 2.15 days in the prior reporting period [1] Group 2: Nasdaq Capital Market - Short interest in 1,665 securities on The Nasdaq Capital Market reached 2,964,394,253 shares, an increase from 2,910,549,464 shares in the previous period [2] - The average daily volume for this period remained at 1.00 day, consistent with the previous reporting period [2] Group 3: Overall Nasdaq Securities - Total short interest across all 4,967 Nasdaq securities amounted to 16,930,066,190 shares, compared to 16,593,621,652 shares in the prior period [3] - This represents an average of 1.86 days of daily volume, up from 1.56 days in the previous reporting period [3] Group 4: Short Sale Definition - A short sale is defined as the sale of a security that the seller does not own or any sale consummated by the delivery of a borrowed security [4]

Core Insights - Cboe Global Markets, Inc. (CBOE) shares have increased by 26.1% year-to-date, outperforming the industry growth of 15.9%, the Finance sector's return of 12.5%, and the Zacks S&P 500 composite's rise of 9.8% [1] - CBOE has outperformed peers such as Intercontinental Exchange Inc. (ICE), CME Group Inc. (CME), and Nasdaq, Inc. (NDAQ), with their respective year-to-date gains of 21.3%, 16.1%, and 22.6% [1] Market Performance - CBOE has a market capitalization of $25.77 billion, with an average trading volume of 0.8 million shares over the last three months [3] - CBOE shares closed at $246.43, trading above the 50-day and 200-day simple moving averages of $238.63 and $217.89, indicating strong upward momentum [4] Financial Projections - The Zacks Consensus Estimate for CBOE's 2025 earnings per share indicates an 11.5% year-over-year increase, with revenues projected at $2.27 billion, reflecting a 9.6% improvement [8] - Expected long-term earnings growth rate for CBOE is 13.8%, surpassing the industry average of 10.4% [9] Analyst Sentiment - Eight out of 13 analysts have raised their estimates for CBOE's 2025 earnings, with the consensus estimate increasing by 0.9% over the past 60 days [10] Revenue Growth Drivers - CBOE's diversified business mix supports steady revenue generation, with expectations for mid to high single-digit organic net revenue growth in 2025 [7][12] - The company is focused on increasing recurring non-transaction revenues through access and capacity fees and proprietary market data fees [12] Strategic Initiatives - CBOE is enhancing its global service breadth and generating cost synergies through strategic acquisitions [13] - The company has improved its cash position and reduced debt, with favorable leverage ratios compared to industry averages [13] Dividend and Share Repurchase - CBOE has increased dividends for 13 consecutive years and has $614.5 million remaining under its existing share repurchase authorizations as of June 30, 2025 [17]

Group 1 - TMX Group CEO John McKenzie will present at the 26th annual Scotiabank Financials Summit on September 3, 2025, from 2:40 to 3:10 p.m. ET [2] - A link to the webcast of the presentation will be available and archived in TMX's shareholder events section [2] - TMX Group operates global markets and provides various services including listing markets, trading markets, and technology solutions to the financial community [3]

Core Points - CME Group has opened registration for the 22nd annual CME Group University Trading Challenge, scheduled from October 5 to October 31, 2025, with a registration deadline of September 25, 2025 [1][2] - The Trading Challenge provides an educational platform for undergraduate and graduate students to manage market risks and protect mock investment portfolios [2][3] - Since its inception 22 years ago, over 35,000 students have participated in the challenge, highlighting the growing interest among young people in financial markets [3][4] - Last year, the challenge saw a record participation of 570 teams, comprising approximately 2,300 students from 180 universities across 24 countries, with Indiana University winning the 2024 competition [4] - CME Group is dedicated to educating future finance professionals about global derivatives markets and risk management through various initiatives, including the Trading Challenge and educational resources like Futures Fundamentals [5][6]

Core Insights - CME Group has achieved record open interest (OI) in interest rate futures, reaching 40,031,688 contracts on August 13, 2025, with U.S. Treasury futures and options OI at 31,615,333 contracts and SOFR futures OI at 13,738,220 contracts [1][3] Group 1: Market Demand and Trends - The increase in open interest records in interest rate, U.S. Treasury, and SOFR contracts indicates a growing market need for risk management and price discovery across the yield curve [3] - CME Group's interest rate futures have reached a record of 3,526 large open interest holders (LOIH) as per the CFTC's report [2] Group 2: Client Benefits and Features - Clients can access $20 billion in daily margin savings across CME Group's interest rate products, enhancing capital efficiency [4] - U.S. Treasury and SOFR futures are eligible for portfolio margining with other cleared interest rate swaps and futures, as well as cross-margining with FICC-cleared cash U.S. Treasury notes, bonds, and certain Repo transactions [4] Group 3: Company Overview - CME Group is recognized as the world's leading derivatives marketplace, offering a wide range of global benchmark products across major asset classes, including interest rates, equity indexes, foreign exchange, energy, agricultural products, and metals [5]

Company Overview - Miami International Holdings, Inc. (MIH) is a technology-driven leader in building and operating regulated financial markets across multiple asset classes [1][5] - MIH owns several exchanges including Miami International Securities Exchange (MIAX), MIAX PEARL, MIAX Emerald, MIAX Sapphire, MIAX Futures Exchange, MIAX Derivatives Exchange (MIAXdx), Dorman Trading, Bermuda Stock Exchange (BSX), and The International Stock Exchange (TISE) [5][6][8] Initial Public Offering (IPO) Details - MIH announced the pricing of its initial public offering of 15,000,000 shares at a price of $23.00 per share, which is $2.00 above the high end of the expected price range [1] - The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "MIAX" on August 14, 2025, with the offering expected to close around August 15, 2025 [1] - MIH has granted underwriters a 30-day option to purchase up to an additional 2,250,000 shares at the initial public offering price [1] Underwriters - J.P. Morgan, Morgan Stanley, and Piper Sandler are acting as lead joint bookrunning managers for the proposed offering [2] - Keefe, Bruyette & Woods, Inc., Raymond James, William Blair, and Rosenblatt are acting as joint bookrunning managers [2] Regulatory Information - A registration statement on Form S-1 relating to MIH's common stock was declared effective by the SEC on August 13, 2025 [4] - The offering of MIH's shares is being made only by means of a prospectus, which can be obtained for free from the SEC's website or through the underwriters [3]

Group 1 - Total traded volume on the Tradeweb European ETF marketplace reached EUR 60.1 billion [3]

Core Insights - Euronext announced its trading volumes for July 2025, highlighting its position as a leading European capital market infrastructure [1] Company Overview - Euronext operates across the entire capital markets value chain, including listing, trading, clearing, settlement, and custody services [2] - The company runs MTS, a prominent electronic fixed income trading market, and Nord Pool, the European power market [2] Market Position - As of June 2025, Euronext's regulated exchanges host nearly 1,800 listed issuers with a total market capitalization of €6.3 trillion, making it a significant player in global debt and fund listings [3] - Euronext accounts for 25% of European lit equity trading, offering a diverse range of products including equities, FX, ETFs, bonds, derivatives, commodities, and indices [3]