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Corporation
FINANCE | Stock Exchanges
cboe.com

Investments

10

Portfolio Exits

2

Partners & Customers

10

Service Providers

3

About 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.

Headquarters Location

400 South LaSalle Street

Chicago, Illinois, 60605,

United States

+1 877 843 2263

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Research containing Cboe

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CB Insights Intelligence Analysts have mentioned Cboe in 2 CB Insights research briefs, most recently on Oct 19, 2021.

Latest Cboe News

Retail Investors Find Success in Index Options Trading : Cboe Report

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.

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Cboe Investments Activity

investments chart

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

14

4/30/2019

Series B - II

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$99M

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10

10/3/2018

Series A

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10

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

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Amount

$6M

$35M

$16M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

6

3

14

10

10

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

$99M

2

12/14/2007

Acquired

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$99M

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0

Date

12/14/2016

12/14/2007

Exit

Acquired - II

Acquired

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

2

0

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

$99M

Acquired

17

10/20/2021

Series B

$99M

$47.5M

Acquired

3

3/24/2021

Private Equity

$99M

Acquired

10

10/16/2020

Private Equity

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$99M

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10

6/2/2020

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$99M

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10

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

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$47.5M

Note

Acquired

Acquired

Acquired

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Sources

17

3

10

10

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

Cboe and S&P Dow Jones Indices Announce Plans for Cboe S&P 500 Dispersion Index, First Cboe Labs Concept to go to Market.

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

United States

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10

6/22/2022

Licensor

United Kingdom

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10

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

United States

United Kingdom

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 . ''

Cboe and S&P Dow Jones Indices Announce Plans for Cboe S&P 500 Dispersion Index, First Cboe Labs Concept to go to Market.

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 . ''

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Sources

1

1

1

10

10

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

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Name

David Harris

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Work History

Title

Chief Executive Officer, President

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Status

Former

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