Cboe Global Markets Sees 27% YoY Rise in Net Revenue in Q3 2021

Fazzaco learned that Cboe Global Markets (Cboe), one of the leading global market operators and trading solution providers, has posted its financial results for the third-quarter of 2021, showing a year-over-year rise in the main financial metrics.

Cboe's net revenue stood at $370 million in Q3 2021, which is up by nearly 27 percent compared to Q3 2020. The operating income of Cboe rose to $190.7 million in the recent quarter, compared to $139.3 million in the same period last year. The operator's diluted EPS climbed 11% YoY to $1.12 in Q3 2021.

The operator's operating expense of Cboe reached $178.8 million in Q3 2021, compared to $152.7 million in Q3 2020. EBITDA margin for the latest quarter dropped 10.9 percentage points.

"In the third quarter of 2021, Cboe posted double-digit year-over-year earnings growth, reflecting accelerated trading in our proprietary products throughout the quarter, coupled with continued higher demand for our suite of data and access solutions. In addition, Cboe delivered on a number of significant strategic milestones, including the successful launch of our European Derivatives platform," said Edward T. Tilly, Cboe Global Markets Chairman, President and Chief Executive Officer.

Fazzaco recently reported that Cboe has reached a definitive agreement to acquire Eris Digital Holdings, LLC (ErisX)​. This acquisition is expected to enable Cboe to enter the digital asset spot and derivatives marketplaces through a digital-first platform.