
Investments
10Portfolio Exits
2Partners & Customers
10Service Providers
3About Cboe
Cboe, formerly Chicago Board Options Exchange (NASDAQ: CBOE), is the holding company for Chicago Board Options Exchange (CBOE), the CBOE Futures Exchange (CFE), and other subsidiaries. CBOE operates an option exchange for trading in equity, index, and exchange traded fund (ETF) options.

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Research containing Cboe
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Cboe in 2 CB Insights research briefs, most recently on Oct 19, 2021.

Oct 19, 2021 report
Coinbase Strategy Teardown: How Coinbase Grew Into The King Midas Of Crypto
Oct 26, 2020 report
Killing The I-Bank: The Disruption Of Investment BankingLatest Cboe News
Jan 27, 2023
Retail Investors Find Success in Index Options Trading : Cboe Report Retail trading has seen a significant increase in recent years, with Bloomberg Intelligence estimating that the retail community made up 24% of trading volume between Q4 2020 and Q1 2021, a historic high and a 10% increase over 2017. This surge in retail trading was highlighted by the unprecedented heights reached by stocks such as Gamestop Corp. and AMC Entertainment Holdings Inc. However, the market turned increasingly hostile in 2022 and retail volume dropped to 17.5%. source : benzinga.com Despite this setback, a report by Cboe Global Markets Inc. shows that the retail trading community has shouldered the bear market of 2022 with more resilience than other metrics suggest, particularly in the options contracts market. One of the most notable metrics in the report is the growth in volume for the Cboe index options based on the Standard & Poor 500 Index (SPX) . Specifically, 1-lot SPX trades, a metric indicative of retail presence, now represent approximately 9% to 10% of SPX’s total trading volume as opposed to less than 2% in the middle of 2019. The average daily options volume between Q4 2019 and Q4 2022 has increased in stocks, exchange-traded funds (ETFs), and indices, with the volume of individual stock options and ETFs doubling and tripling respectively. Cboe’s report 2023 In the long term, the results are even more promising. The average daily volume of options has been on a steady increase since 2019, indicating that traders are consistently engaging with the market via options contracts. The average execution size has decreased throughout this time and appears to have plateaued at roughly 7.5 contracts a trade, which is indicative of an increased retail presence. The trading of index options has also seen significant growth, particularly with the introduction of Tuesday and Thursday expiration dates, which has attracted a flurry of retail investors and traders. Specifically, 1-lot SPX trades, a metric indicative of retail presence, now represent approximately 9% to 10% of SPX’s total trading volume, as opposed to less than 2% in the middle of 2019. Additionally, 0 days-to-expiry (0DTE) trades, also indicative of retail presence, comprise nearly 40% of overall SPX volume compared to 20% in early 2022. source : cnbc.com Cboe’s report confirms that the retail community has not simply folded in the face of a bear market, but has instead shown fortitude in the options department. Despite the slump in volume between Sept. 2022 and Dec. 2022, Cboe recorded more than 1 million average daily volume for 0DTE options throughout that time period. Furthermore, the global trading hours (GTH) retail volume has become a meaningful portion of SPX average daily volumes, suggesting that SPX trades are becoming more common across the globe.
Cboe Investments
10 Investments
Cboe has made 10 investments. Their latest investment was in Util as part of their Seed VC - II on November 11, 2022.

Cboe Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
11/3/2022 | Seed VC - II | Util | $6M | Yes | 6 | |
4/6/2022 | Series C | Coin Metrics | $35M | Yes | 3 | |
3/18/2022 | Series B | CoinRoutes | $16M | Yes | Arca, AscendEX, Ayon Capital, Cboe, Celsius Network, CMT Digital, Galaxy Digital, Genesis Global Trading, GSR.io, Mirana Ventures, Susquehanna International Group, and Undisclosed Investors | 14 |
4/30/2019 | Series B - II | |||||
10/3/2018 | Series A |
Date | 11/3/2022 | 4/6/2022 | 3/18/2022 | 4/30/2019 | 10/3/2018 |
---|---|---|---|---|---|
Round | Seed VC - II | Series C | Series B | Series B - II | Series A |
Company | Util | Coin Metrics | CoinRoutes | ||
Amount | $6M | $35M | $16M | ||
New? | Yes | Yes | Yes | ||
Co-Investors | Arca, AscendEX, Ayon Capital, Cboe, Celsius Network, CMT Digital, Galaxy Digital, Genesis Global Trading, GSR.io, Mirana Ventures, Susquehanna International Group, and Undisclosed Investors | ||||
Sources | 6 | 3 | 14 |
Cboe Portfolio Exits
2 Portfolio Exits
Cboe has 2 portfolio exits. Their latest portfolio exit was National Stock Exchange on December 14, 2016.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
---|---|---|---|---|---|
12/14/2016 | Acquired - II | 2 | |||
Date | 12/14/2016 | |
---|---|---|
Exit | Acquired - II | |
Companies | ||
Valuation | ||
Acquirer | ||
Sources | 2 |
Cboe Acquisitions
14 Acquisitions
Cboe acquired 14 companies. Their latest acquisition was NEO on November 15, 2021.
Date | Investment Stage | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Total Funding | Note | Sources |
---|---|---|---|---|---|---|
11/15/2021 | Acquired | 17 | ||||
10/20/2021 | Series B | $47.5M | Acquired | 3 | ||
3/24/2021 | Private Equity | Acquired | 10 | |||
10/16/2020 | Private Equity | |||||
6/2/2020 |
Date | 11/15/2021 | 10/20/2021 | 3/24/2021 | 10/16/2020 | 6/2/2020 |
---|---|---|---|---|---|
Investment Stage | Series B | Private Equity | Private Equity | ||
Companies | |||||
Valuation | |||||
Total Funding | $47.5M | ||||
Note | Acquired | Acquired | Acquired | ||
Sources | 17 | 3 | 10 |
Cboe Partners & Customers
10 Partners and customers
Cboe has 10 strategic partners and customers. Cboe recently partnered with Mirae Asset Securities on December 12, 2022.
Date | Type | Business Partner | Country | News Snippet | Sources |
---|---|---|---|---|---|
12/6/2022 | Vendor | South Korea | Cboe Global Markets selects Mirae as clearing broker for US treasuries platform `` We are pleased that Cboe Global Markets has selected Mirae Asset Securities as its fully disclosed clearing broker , and we look forward to providing our world-class correspondent clearing services to support the continued success of their new trading venue . '' | 1 | |
10/19/2022 | Partner | United States | Edwards will join Hiatt at RMC for a discussion and analysis of dispersion , underscoring the strength of Cboe Global Markets , Inc. and S&P Dow Jones Indices LLC 's long-standing relationship and highlighting the companies ' shared commitment to drive innovation through rigorous data analysis and academic research . | 1 | |
9/8/2022 | Partner | Japan | 10:06 EDT Cboe and NEO Dual Launch New Suite of Women-Led Sustainable ETFs in the U.S. and Canada As evidenced by this first dual ETF launch with Emerge , the combination of Cboe Global Markets , Inc. and NEO is already enabling us to create value for our clients and will continue to provide a strong foundation for us to further grow our global listings offerings , bring greater efficiencies to the marketplace and deepen our client relationships around the world . '' | 1 | |
7/28/2022 | Vendor | ||||
6/22/2022 | Licensor |
Date | 12/6/2022 | 10/19/2022 | 9/8/2022 | 7/28/2022 | 6/22/2022 |
---|---|---|---|---|---|
Type | Vendor | Partner | Partner | Vendor | Licensor |
Business Partner | |||||
Country | South Korea | United States | Japan | ||
News Snippet | Cboe Global Markets selects Mirae as clearing broker for US treasuries platform `` We are pleased that Cboe Global Markets has selected Mirae Asset Securities as its fully disclosed clearing broker , and we look forward to providing our world-class correspondent clearing services to support the continued success of their new trading venue . '' | Edwards will join Hiatt at RMC for a discussion and analysis of dispersion , underscoring the strength of Cboe Global Markets , Inc. and S&P Dow Jones Indices LLC 's long-standing relationship and highlighting the companies ' shared commitment to drive innovation through rigorous data analysis and academic research . | 10:06 EDT Cboe and NEO Dual Launch New Suite of Women-Led Sustainable ETFs in the U.S. and Canada As evidenced by this first dual ETF launch with Emerge , the combination of Cboe Global Markets , Inc. and NEO is already enabling us to create value for our clients and will continue to provide a strong foundation for us to further grow our global listings offerings , bring greater efficiencies to the marketplace and deepen our client relationships around the world . '' | ||
Sources | 1 | 1 | 1 |
Cboe Service Providers
11 Service Providers
Cboe has 11 service provider relationships
Service Provider | Associated Rounds | Provider Type | Service Type |
---|---|---|---|
Acquired | Investment Bank | Financial Advisor | |
Acquired | Counsel | General Counsel | |
Acquired | Counsel | General Counsel |
Service Provider | |||
---|---|---|---|
Associated Rounds | Acquired | Acquired | Acquired |
Provider Type | Investment Bank | Counsel | Counsel |
Service Type | Financial Advisor | General Counsel | General Counsel |
Partnership data by VentureSource
Cboe Team
5 Team Members
Cboe has 5 team members, including former Chief Executive Officer, President, David Harris.
Name | Work History | Title | Status |
---|---|---|---|
David Harris | Chief Executive Officer, President | Former | |
Name | David Harris | ||||
---|---|---|---|---|---|
Work History | |||||
Title | Chief Executive Officer, President | ||||
Status | Former |
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