CBOE
CBOE · Financial Services · Financial - Data & Stock Exchanges · US
Research · Oct 28, 2026
[CBOE] Cboe: Q3 2026 Earnings Test Whether Index Options Volume Holds
Cboe's Q2 2026 net revenue rose 25% to $731.6 million on record index options volume; Q3 earnings test whether index options ADV holds above 6 million contracts.
Research · Sep 18, 2026
SEC Tokenized Stock Exemption Puts Webull PFOF and Broadridge Proxy Fees at Risk
The SEC's tokenized stock exemption bypasses street-name proxy billing and PFOF, putting Broadridge's $1.43bn regulatory line and Webull's $94m rebates in play.
Research · Sep 3, 2026
[CBOE] Cboe Global Markets Thesis 2026: Derivatives Surge Drives Record Quarter, Realignment Follows
Cboe Global Markets FY25 revenue $4.71B (+15%); op income $1.51B (+38%); NI $1.10B (+44%); EPS $10.42 (+45%). Q4 record derivatives quarter — multi-list +41%, index options +40%, SPX 0DTE ADV +66%. Cash + spot markets +27% Q4. DataVantage +9%. Strategic realignment: Australia + Canada sales process, closed EU derivatives + corporate listings. FY26 guide: total organic mid-single; DataVantage mid-high single; adj opex $864-879M; capex $73-83M; tax 27.5-29.5%.
Research · Aug 25, 2026
Retail Brokerage Options Trading Surges After Pattern Day Trader Repeal
Since the pattern day trader rule ended on 4 June 2026, Webull's options contracts rose 34% sequentially against 7% for equity notional, and Cboe measured it.
Research · Apr 10, 2026
SEC Options Roundtable: CBOE and ICE Face Fee Reform as PFOF Scrutiny Hits SCHW, IBKR
SEC's options roundtable agenda release advances reform talks on liquidity and fees, spotlighting ICE and CBOE's dominance amid record volumes. Brokers like SCHW/IBKR face PFOF scrutiny, but exchanges' premiums reflect growth tailwinds. Neutral outlook favors scaled players.