Cboe Global Markets

“Robinhood was a great add. We continue to see their options volume grow, which is super exciting. And they've been very public that they see good options growth in the midterm.”

Cboe cites Robinhood as a growing introducing-broker partner whose options volume keeps rising, a positive read-through for Robinhood's options business.

“having our data platform running on Snowflake on AWS, and that underpins our AI strategy.”

Cboe's data platform runs on AWS (Amazon), underpinning its AI strategy, a read-through on AWS cloud consumption by financial-market operators.

“having our data platform running on Snowflake on AWS, and that underpins our AI strategy.”

Cboe runs its data platform on Snowflake, a read-through on Snowflake as a data-infrastructure vendor to a large exchange operator.

“our investment in the 7RIDGE Fund holding Trading Technologies. The transaction detailed in last quarter's earnings call is expected to close in the fourth quarter of 2025, subject to regulatory approval.”

Cboe is monetizing its stake in Trading Technologies (held via the 7RIDGE Fund), with the sale expected to close in Q4 2025 and a gain recognized.

“In addition, Moody's recently upgraded our credit rating by 1 notch to A2, reflecting the strength of our financial profile.”

Moody's upgraded Cboe's credit rating one notch to A2, a rating-agency action on Cboe's credit profile.

“This week, Trading Technologies announced an investment transaction that is expected to result in Cboe fully exiting its investment in the 7RIDGE fund that currently owns Trading Technologies. The transaction is expected to close in the fourth quarter of 2025 after regulatory clearance.”

Cboe is exiting its minority stake in the 7RIDGE fund that holds Trading Technologies, expecting to record a gain on the June 30, 2025 carrying value once the deal closes in Q4 2025.

“S&P is a really long-term and deeply valued partner. I think we've had a long and very successful relationship. We see the world the same way, and I think we have a lot of the same goals and objectives when it comes to how to successfully grow the franchise.”

Cboe's proprietary SPX/VIX options franchise depends on its decades-long index-licensing partnership with S&P Global; the new CEO signals intent to preserve and extend that relationship.

“there were some recent headlines on Nasdaq launching single stock zero day option.”

An analyst raises Nasdaq's launch of single-stock zero-day options as a competitive threat to Cboe's index-option franchise, prompting management to defend Cboe's liquidity-depth moat.

“You know, just as it relates to the option itself, can clarify that we have not exercised the option.”

Cboe confirms it still holds an unexercised, unexpired option related to Trading Technologies, a trading-technology provider, but declines to give further detail on strategic intent.

“Craig handled $20 billion of deals for CME.”

An analyst notes incoming CEO Craig Donahoe's M&A track record of $20 billion in deals at rival exchange CME Group, asking how that experience might shape Cboe's own inorganic growth strategy.

“Many of you know Craig from his days at CME, where his track record speaks for itself.”

Cboe's outgoing CEO introduces incoming CEO Craig Donahoe by referencing his prior tenure and strong track record at rival exchange operator CME Group.

“Second was expanded access, with Robinhood rolling out index options to all its customers in late January.”

Robinhood's rollout of index options to its full customer base is cited as a key driver of Cboe's record zero-DTE and SPX options volume growth, with management noting the ramp-up came faster and larger than expected.