Cboe global FX revenue jumps 20% in Q2 2022

Cboe Global Markets has released its financial results for the second quarter of 2021. The global market operator reported net revenue rise of 21% compared to the same period the previous year to $424 million.

The announced financial results show adjusted diluted EPS of $1.67 in the second quarter, compared to $1.38 in the second quarter of last year.

During the second quarter, global FX revenue increased by 20% YoY to $16.6 million. The exchange attributed the uptick to higher net transaction and clearing fees.

Cboe Global Markets

The average daily notional value of forex trading on Cboe FX came in at $39.6 billion for Q2 2022, up by 21.8% compared to the same period the previous year. However, compared to the first quarter of 2022, the number was 5.7% lower.

According to the official announcement, Cboe FX commanded 17% of the market share, compared to 16.3% in last year’s second quarter.

Edward T. Tilly, Cboe Global Markets Chairman, President and Chief Executive Officer, said:

Edward T. Tilly

Edward T. Tilly

Cboe delivered strong second quarter results to close out an exceptional first half of 2022. Activity across our ecosystem—cash, data and derivatives—was robust.

Brian N. Schell, Cboe Global Markets Executive Vice President, Chief Financial Officer and Treasurer, added:

In the second quarter, Cboe produced record-setting revenue results as overall net revenues grew 21% year-over-year. The benefits of the Cboe flywheel were apparent given the strong year-over-year growth from each category during the quarter, with net revenues from derivatives markets growing 30%, data and access solutions up 20%, and cash and spot markets growing 7%.

Earlier in June, Cboe completed the acquisition of NEO1, a fintech organization comprised of a registered Canadian securities exchange (NEO Exchange) with products and services set which includes corporate listings, cash equities trading and a non-listed securities distribution platform (NEO Connect).

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