Cboe sees 21% rise in global FX net revenue in Q3

Cboe Global Markets has released its financial results for the third quarter of 2022. The global market operator reported net revenue rise of 26% compared to the same period the previous year to $442.4 million.

According to the financial results, the adjusted diluted EPS came in at $1.74 in the three months between July and September, compared to $1.54 during the same period the previous year.

Earlier in August, Cboe reported a 20% jump in its second quarter revenue, reaching $424 million.

During the third quarter, global FX revenue increased by 21% YoY to $17.3 million. The exchange attributed the results to higher net transaction and clearing fees.

Cboe

The average daily notional value of forex trading on Cboe FX came in at $41.3 billion for Q3 2022, registering a 27% jump compared to the same period the previous year.

In the official announcement, the company noted that Cboe FX commanded 17.8% of the market share, compared to 17% in last year’s third quarter.

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

Edward T. Tilly

Edward T. Tilly

Cboe delivered record adjusted earnings in the third quarter of 2022, building on the strong results produced over the first half of the year. The robust trends were driven by our derivatives franchise, supported by sizable contributions from our data and access solutions and cash and spot markets during the quarter.

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

In the third quarter, Cboe produced another quarter of record-setting net revenue and adjusted earnings results. Continued market uncertainty, coupled with the investments we have made across our cash, data and derivatives categories, helped drive Cboe’s outperformance in the third quarter. Net revenues from derivatives markets grew 31 percent, data and access solutions grew 15 percent, and cash and spot markets finished 5 percent higher on a year-over-year basis.

Earlier this year, 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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