Formerly | CBOE Holdings, Inc. |
---|---|
Company type | Public company |
Industry | Security & commodity exchanges |
Founded | as Chicago Board Options Exchange 1973 |
Founder | Chicago Board of Trade |
Headquarters | , U.S. |
Key people | |
Revenue | US$3.77 billion (2023) |
US$1.06 billion (2023) | |
US$761 million (2023) | |
Total assets | US$7.49 billion (2023) |
Total equity | US$3.99 billion (2023) |
Number of employees | 1,647 (2023) |
Website | cboe |
Footnotes /references [1] |
Cboe Global Markets is an American company that owns the Chicago Board Options Exchange and the stock exchange operator BATS Global Markets.
Founded in 1973 by the Chicago Board of Trade and member owned for several decades, on March 11, 2010 the Chicago Board Options Exchange (CBOE) filed paperwork to launch an initial public offering [2] and began trading on the NASDAQ stock exchange on June 15, 2010. [3]
In September 2011, CBOE Stock Exchange (CBSX) entered into an agreement to acquire the National Stock Exchange. The acquisition was completed on December 30, 2011 with both exchanges to operate under separate names. The National Stock Exchange continued to be based in Jersey City. [4] The National Stock Exchange ceased trading operations on May 30, 2014. The closure brought the number of active stock exchanges in the United States to 11, as the CBOE Stock Exchange had closed the month prior. Wrote Bloomberg, that left "just one public exchange, Chicago Stock Exchange Inc., that isn't owned by Bats, Nasdaq OMX Group Inc., or IntercontinentalExchange Group Inc." [5]
In June 2015, CBOE announced its acquisition of the LiveVol platform, a market data services provider. [6]
In January 2016, CBOE announced it had purchased a majority stake in Vest Financial, an investment adviser specializing in "options-centric products". [7]
In September 2016, it was announced that CBOE was purchasing BATS Global Markets, effective in early 2017, for approximately US$3.2 billion. [8]
In October 2017, the company rebranded from CBOE Holdings to Cboe Global Markets in a global rebrand. [9]
In June 2021, Cboe announced that it had completed its acquisition of Chi-X Asia Pacific which had operated an alternative market operator and provided innovative market solutions. Through the acquisition, Cboe established a significant presence in the Asia Pacific region for the first time by gaining access to two of the world's largest securities markets in Japan and Australia. [10]
In May 2022, Cboe completed its acquisition of Eris Digital Holdings (ErisX), a US-based digital asset spot market, regulated futures exchange, and regulated clearinghouse. [11] [12] [13]
The company operates in North America, Europe and Asia-Pacific, providing platforms for trading options, futures, equities, and foreign exchange. [14] [15] It has stock exchanges in the US, Canada, the Netherlands and Australia. [16] Its Canadian operations, Cboe Canada, accounts for 15% of the trading in securities listed in Canada by volume. [17] In Australia, the company operates Cboe Australia, following Cboe's acquisition of Chi-X in Australia and Japan. [18] Its European operations, Cboe Europe, is based in London and Amsterdam. [19] By trading volume, Cboe's stock exchanges are the largest in Europe, second-largest in Canada and third largest in the US. [18]
In addition to its exchanges, Cboe operates clearing houses. [18] These include its European clearing house, Cboe Clear Europe. [20] The company also has a cryptocurrency exchange, Cboe Digital, for exchanging crypto currencies and derivatives. The platform, originally ErisX, was acquired by Cboe in 2021. [21]
The company is headquartered in Chicago, where it operates a trading floor for open outcry trading. [22]
Cboe has two main proprietary index options products, options on the VIX Index, an index that measures expectations for stock market volatility [23] and options on SPX, the Standard & Poor’s 500 index. [14] The company also provides platforms for trading options on other indices, including the Russell 2000 Index. [22]
As of 2023 [update] , Fredric Tomczyk is the company's CEO and has served as a Cboe board member since 2019. [23]
The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 of the largest companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices and includes approximately 80% of the total market capitalization of U.S. public companies.
The Chicago Mercantile Exchange (CME) is a global derivatives marketplace based in Chicago and located at 20 S. Wacker Drive. The CME was founded in 1898 as the Chicago Butter and Egg Board, an agricultural commodities exchange. For most of its history, the exchange was in the then common form of a non-profit organization, owned by members of the exchange. The Merc demutualized in November 2000, went public in December 2002, and merged with the Chicago Board of Trade in July 2007 to become a designated contract market of the CME Group Inc., which operates both markets. The chairman and chief executive officer of CME Group is Terrence A. Duffy, Bryan Durkin is president. On August 18, 2008, shareholders approved a merger with the New York Mercantile Exchange (NYMEX) and COMEX. CME, CBOT, NYMEX, and COMEX are now markets owned by CME Group. After the merger, the value of the CME quadrupled in a two-year span, with a market cap of over $25 billion.
The National Stock Exchange (NSX) is an electronic stock exchange based in Jersey City, New Jersey. It was founded March 1885 in Cincinnati, Ohio, as the Cincinnati Stock Exchange.
The Chicago Board Options Exchange (CBOE), located at 433 West Van Buren Street in Chicago, is the largest U.S. options exchange with an annual trading volume of around 1.27 billion at the end of 2014. CBOE offers options on over 2,200 companies, 22 stock indices, and 140 exchange-traded funds (ETFs).
MSCI Inc. is an American finance company headquartered in New York City. MSCI is a global provider of equity, fixed income, real estate indices, multi-asset portfolio analysis tools, ESG and climate products. It operates the MSCI World, MSCI All Country World Index (ACWI) and MSCI Emerging Markets Indices among others.
The S&P 100 Index is a stock market index of United States stocks maintained by Standard & Poor's.
NYSE Euronext, Inc. was a transatlantic multinational financial services corporation that operated multiple securities exchanges, including the New York Stock Exchange, Euronext and NYSE Arca. NYSE merged with Archipelago Holdings on March 7, 2006, forming NYSE Group, Inc. On April 4, 2007, NYSE Group, Inc. merged with Euronext N.V. to form the first global equities exchange, with its headquarters in Lower Manhattan. The corporation was then acquired by Intercontinental Exchange, which subsequently spun off Euronext.
Options Clearing Corporation (OCC) is a United States clearing house based in Chicago. It specializes in equity derivatives clearing, providing central counterparty (CCP) clearing and settlement services to 16 exchanges. Started by Wayne Luthringshausen and carried on by Michael Cahill. Its instruments include options, financial and commodity futures, security futures, and securities lending transactions.
StoneX Group Inc. is an American financial services company. The company operates in six areas: commercial hedging, global payments, securities, physical commodities, foreign exchange and clearing and execution services (CES).
Intercontinental Exchange, Inc. (ICE) is an American company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. Listed on the Fortune 500, S&P 500, and Russell 1000, the company owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces. This includes ICE futures exchanges in the United States, Canada, and Europe; the Liffe futures exchanges in Europe; the New York Stock Exchange; equity options exchanges; and OTC energy, credit, and equity markets.
CME Group Inc. is a financial services company. Headquartered in Chicago, the company operates financial derivatives exchanges including the Chicago Mercantile Exchange, Chicago Board of Trade, New York Mercantile Exchange, and The Commodity Exchange. The company also owns 27% of S&P Dow Jones Indices. It is the world's largest operator of financial derivatives exchanges. Its exchanges are platforms for trading in agricultural products, currencies, energy, interest rates, metals, futures contracts, options, stock indexes, and cryptocurrencies futures.
The Options Price Reporting Authority (OPRA) oversees the Securities Information Processor (SIP) that provides last sale information and current options quotations from a committee of participant exchanges. In turn, this committee is designated as the Options Price Reporting Authority.
BATS Chi-X Europe is a London-based, order-driven pan-European equity exchange that has been a subsidiary of BATS Global Markets since 2011. It is a low latency, low cost alternative to exchange traded equities and exchange-traded funds (ETFs) that are listed on primary exchanges such as the London Stock Exchange, Frankfurt Stock Exchange, Euronext and OMX.
BATS Global Markets is a global stock exchange operator founded in Lenexa, Kansas, with additional offices in London, New York, Chicago, and Singapore. BATS was founded in June 2005, became operator of a licensed U.S. stock exchange in 2008 and opened its pan-European stock market in October 2008. As of February 2016, it operated four U.S. stock exchanges, two U.S. equity options exchanges, the pan-European stock market, and a global market for the trading of foreign exchange products. BATS was acquired by Cboe Global Markets in 2017.
The Global Electronic Trading Company (GETCO), or Getco LLC, is an American proprietary algorithmic trading and electronic market making firm based in Chicago, Illinois. In December 2012, the firm agreed to acquire Knight Capital Group; this merger was completed in July 2013, forming the new company KCG Holdings.
Interactive Brokers LLC (IB) is an American multinational brokerage firm. It operates the largest electronic trading platform in the United States by number of daily average revenue trades. The company brokers stocks, options, futures, EFPs, futures options, forex, bonds, funds, and some cryptocurrencies.
Greenhill & Co., Inc. is an American investment banking advisory firm founded in 1996 by Robert F. Greenhill. The firm provides advice on significant mergers, acquisitions, restructurings, financings, and capital raisings to leading corporations, partnerships, institutions and governments across a number of industries. Since its inception, Greenhill has advised on transactions valued at close to $3 trillion.
Freedom Holding Corp. is an investment conglomerate registered in Nevada, USA. The company provides a range of services in retail financial securities brokerage and trading, asset management, capital markets, investment research and counseling, investment banking and underwriting services, mortgages, insurance, and consumer banking. Its main area of focus is in the American stock market, as well as the markets of Central Asia, mainly Kazakhstan.
Anthony "Tony" J. Saliba is a trader, author, and entrepreneur based out of Chicago, Illinois. He currently serves as CEO of Matrix Holding Group, Mercury Digital Assets, Option Technology Solutions, and Fortify Technologies.