Investors have actively looked to hedge against the risks imposed by a severe economic downturn by rejigging portfolios towards futures and fixed-income products, sending transaction volumes higher.
Rival futures exchange operator CME Group Inc (NASDAQ:CME) sailed past Wall Street estimates for quarterly profit earlier this week on the back of robust trading volumes and demand for its hedging tools.
“Activity across our ecosystem – cash, data and derivatives – was robust,” said Cboe Chief Executive Officer Edward Tilly in a statement.
Net income, excluding one-time expenses, rose to $177.3 million, or $1.67 per share, in the three months ended June 30 from $147.4 million, or $1.38 per share, a year ago.
Cboe, which provides trading platforms and products in equities, derivatives and foreign exchange across North America, Europe and Asia Pacific, said net revenue in the quarter rose 21% to $424 million.
Source: Economy - investing.com
