Company Description
Cboe Global Markets, Inc. (CBOE) is described in its public communications as "the world's leading derivatives and securities exchange network." The company operates in the securities and commodity exchanges industry within the broader finance and insurance sector and is known for providing trading, clearing and investment-related solutions across multiple asset classes and regions.
According to company press releases, Cboe Global Markets "delivers cutting-edge trading, clearing and investment solutions" and "provides trading solutions and products in multiple asset classes, including equities, derivatives and FX across North America, Europe and Asia Pacific." This positions Cboe as an operator of markets where participants can trade options, futures, equities and foreign exchange products, and access related clearing services.
The firm highlights its role in options and index products. Cboe reports trading statistics for multi-listed options, proprietary index options, and futures across its exchanges. Its press releases emphasize activity in S&P 500 Index (SPX) options, Cboe Volatility Index (VIX) options, Mini-SPX (XSP) options, and other index-based contracts. Cboe also notes that certain index products are offered under licensing arrangements with third-party index providers such as S&P Global, and that products with S&P indexes as underlying interests are not sponsored or endorsed by Standard & Poor's.
Cboe describes itself as operating a global network that spans North America, Europe and Asia Pacific. Its reported business lines include:
- U.S. options – multi-listed options and proprietary index options traded across Cboe's options exchanges.
- Futures – contracts traded on Cboe Futures Exchange, LLC (CFE), including index and digital-asset-related futures as described in company announcements.
- U.S. equities – on-exchange and off-exchange matched share trading, including activity on BIDS Trading as referenced in volume reports.
- Canadian, European, Australian and Japanese equities – matched share or notional volume on Cboe-operated equity platforms in these markets.
- Global FX – foreign exchange trading measured by average daily notional value (ADNV), including activity on Cboe SEF (Swap Execution Facility) for non-deliverable forwards.
- Cboe Clear Europe – European clearing services, where Cboe reports cleared trades and net settlements.
In its own "About" statements, Cboe repeatedly emphasizes that it aims to build "a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future." This language underscores the company's focus on operating regulated markets and clearing infrastructures where participants can trade and manage risk in listed derivatives, equities and FX instruments.
Business activities and products
Public disclosures show that Cboe is active in designing and listing index-based derivatives and related products. Examples mentioned in recent press releases include:
- S&P 500 Index (SPX) options, including zero-days-to-expiry (0DTE) contracts and Mini-SPX (XSP) options.
- Cboe Volatility Index (VIX) options, which reference the Cboe Volatility Index.
- Russell 2000 Index (RUT) options and Russell 2000 Index Weeklys (RUTW) options, which Cboe states are exclusively listed on Cboe Options Exchange and are cash-settled, European-style options.
- Cboe Magnificent 10 Index (MGTN) futures and options, designed to measure the price return of a set of U.S.-listed large-cap technology and growth stocks, with contracts listed on Cboe Options Exchange and Cboe Futures Exchange, subject to regulatory review.
- Cboe Bitcoin Continuous Futures (PBT) and Cboe Ether Continuous Futures (PET), described as "continuous futures" designed to offer long-term, perpetual-style exposure to bitcoin and ether, trading on Cboe Futures Exchange and cleared by Cboe Clear U.S., LLC.
These examples illustrate Cboe's role in creating and listing derivatives tied to equity indexes and digital assets, and in providing trading sessions such as Global Trading Hours (GTH) and, in some cases, additional sessions like proposed Curb Trading Hours for certain products. Cboe notes that some products trade nearly 24 hours a day, five days a week, particularly to serve investors in Europe and Asia-Pacific seeking access to U.S. markets.
Geographic footprint and asset classes
Across its public reports, Cboe states that it offers trading in:
- Equities – U.S. on-exchange and off-exchange, Canadian, European, Australian and Japanese equities.
- Derivatives – options and futures on equity indexes, volatility indexes and digital assets.
- FX – global foreign exchange markets, including spot and non-deliverable forwards traded on Cboe FX platforms and Cboe SEF.
The company reports monthly and annual statistics such as average daily trading volume (ADV), average daily notional value (ADNV), and market share across these asset classes and regions. These metrics are summarized in its "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report," which is referenced in multiple press releases.
Clearing and risk management
Cboe's communications highlight the role of its clearing operations. In Europe, Cboe Clear Europe provides clearing services for trades executed on Cboe Europe Equities and other venues, with reported statistics on cleared trades and net settlements. In the U.S., Cboe Clear U.S., LLC is described as a CFTC-regulated derivatives clearing organization that centrally clears certain futures products, including the Bitcoin and Ether Continuous Futures.
An 8-K filing dated June 27, 2025, describes Cboe Global Markets, Inc. as guarantor under a credit facility for Cboe Clear Europe N.V., indicating the corporate relationship between the parent company and its European clearing subsidiary. The filing details an amendment and restatement of this facility, including the extension of its term and maintenance of aggregate commitments.
Regulatory environment and risk disclosures
Cboe frequently references the regulatory framework under which it operates. Its press releases include disclaimers that options and futures involve risk and are not suitable for all market participants, and direct readers to documents such as "Characteristics and Risks of Standardized Options (ODD)" and CFTC-referenced risk disclosure statements for futures and security futures. Cboe also notes that its clearing organizations operate in compliance with CFTC rules and regulations, and that certain products are listed or cleared in U.S.-regulated markets.
The company includes forward-looking statements sections in its announcements, outlining risk factors that could affect its results, including economic and market conditions, competition, regulatory changes, technology and cybersecurity risks, and operational considerations related to trading and clearing volumes.
Corporate status and exchange listing
Cboe Global Markets, Inc. is identified in SEC filings as a Delaware corporation with Commission File Number 001-34774. The filings and press releases consistently refer to the company by its ticker symbol CBOE, indicating that its common stock is listed and traded under this symbol. There is no indication in the provided materials of delisting, deregistration, bankruptcy, or a completed merger that would change the company's status.
How Cboe describes its purpose
Across multiple recent press releases, Cboe summarizes its purpose as operating "the Exchange for the World Stage" and "a trusted, inclusive global marketplace". It emphasizes enabling market participants "to pursue a sustainable financial future" by offering regulated venues and products for trading, hedging, and managing exposure across equities, derivatives, FX and digital-asset-linked futures.
FAQs about Cboe Global Markets (CBOE)
- What does Cboe Global Markets, Inc. do?
Cboe Global Markets, Inc. operates what it describes as the world's leading derivatives and securities exchange network. According to its press releases, it provides trading, clearing and investment-related solutions in equities, derivatives and FX across North America, Europe and Asia Pacific. - In which asset classes does Cboe offer trading?
Company communications state that Cboe offers trading solutions and products in multiple asset classes, including equities, derivatives and FX. It reports activity in U.S., Canadian, European, Australian and Japanese equities, index and volatility options, futures, and global FX markets. - What are some of Cboe's notable derivatives products?
Recent press releases highlight trading in S&P 500 Index (SPX) options, Cboe Volatility Index (VIX) options, Mini-SPX (XSP) options, Russell 2000 Index (RUT) options and Weeklys, Cboe Magnificent 10 Index (MGTN) futures and options, and Cboe Bitcoin and Ether Continuous Futures (PBT and PET), subject to regulatory review where noted. - Where does Cboe operate geographically?
Cboe states that it provides trading solutions and products across North America, Europe and Asia Pacific. It reports trading statistics for U.S. equities and options, Canadian equities, European equities, Australian equities, Japanese equities and global FX. - What is Cboe Clear Europe?
Cboe Clear Europe N.V. is described in an 8-K filing as a borrower under a credit facility guaranteed by Cboe Global Markets, Inc. Cboe's volume reports present Cboe Clear Europe cleared trades and net settlements, indicating that it provides clearing services for European markets. - How does Cboe describe its role in the financial system?
In its "About" sections, Cboe describes itself as a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. It emphasizes its role in delivering trading, clearing and investment solutions in regulated markets. - Is Cboe involved in digital-asset-related products?
Yes. A November 2025 press release describes plans for Cboe Bitcoin Continuous Futures (PBT) and Cboe Ether Continuous Futures (PET) on Cboe Futures Exchange, designed to offer long-term, perpetual-style exposure to bitcoin and ether, with contracts centrally cleared through Cboe Clear U.S., LLC, subject to regulatory review. - Does Cboe still trade under the ticker CBOE?
The provided press releases and SEC filings consistently refer to Cboe Global Markets, Inc. with the ticker symbol CBOE, and there is no indication in these materials of a ticker change or delisting.