We are a leading provider of market infrastructure and tradable products, delivering cutting-edge trading, clearing and investment solutions to market participants around the world.

CBOE

Edward T. Tilly

Chairman and Chief Executive Officer

John F. Deters

Executive Vice President, Chief Strategy Officer

Greg Hoogasian

Executive Vice President, Chief Regulatory Officer

David Howson

Executive Vice President, Global President, CGM

Chris Isaacson

Executive Vice President, Chief Operating Officer

Brian N. Schell

Executive Vice President, Chief Financial Officer and Treasurer

Patrick Sexton

Executive Vice President, General Counsel and Corporate Secretary

Chairman and Chief Executive Officer and Director

Eugene S. Sunshine

Lead Director

William M. Farrow III

Director

Edward J. Fitzpatrick

Ivan K. Fong

Janet P. Froetscher

Jill R. Goodman

Alexander J. Matturri

Jennifer J. McPeek

Roderick A. Palmore

James E. Parisi

Joseph P. Ratterman

Jill E. Sommers

Fredric J. Tomczyk

The Exchange for the World Stage

Benefits of XSP vs. SPY ETF

S&P 500 Weeklys Options

About CBOE

Cboe Global Markets 株価情報 (BATS: CBOE)

最新ニュース Cboe Global Markets (BATS:CBOE) 株価情報

Cboe Global Markets

NASDAQ

CBOE Holdings

Cboe Global Markets Inc is a provider of market infrastructure and tradable products, delivers cutting-edge trading, clearing and investment solutions to market participants around the world. The Company is committed to operating a trusted, inclusive world-wide marketplace, and to providing products, technology and data solutions that enable participants to define a sustainable financial future. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, FX, and digital assets, across North America, Europe, and Asia Pacific.

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

News

ソラナ、リップル　Cboe副社長「ETFへの実現は遠い」

Cboe Global Markets Inc

Cboe Validus S&P 500 Dynamic PutWrite Index ETF

Keefe, Bruyette &amp; Woods analyst Kyle Voigt maintains Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Market Perform and lowers the price target from $220 to $215.

Price Target

Analyst Ratings

Keefe, Bruyette & Woods Maintains Market Perform on Cboe Global Markets, Lowers Price Target to $215

Oppenheimer analyst Owen Lau maintains Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Outperform and lowers the price target from $232 to $218.

Oppenheimer Maintains Outperform on Cboe Global Markets, Lowers Price Target to $218

Barclays analyst Benjamin Budish maintains Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Equal-Weight and lowers the price target from $220 to $212.

Barclays Maintains Equal-Weight on Cboe Global Markets, Lowers Price Target to $212

Jefferies analyst Daniel Fannon maintains Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Hold and lowers the price target from $212 to $190.

Jefferies Maintains Hold on Cboe Global Markets, Lowers Price Target to $190

William Blair initiates coverage on Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Market Perform rating.

Initiation

William Blair Initiates Coverage On Cboe Global Markets with Market Perform Rating

JP Morgan analyst Kenneth Worthington downgrades Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) from Neutral to Underweight and lowers the price target from $203 to $174.

Downgrades

JP Morgan Downgrades Cboe Global Markets to Underweight, Lowers Price Target to $174

Goldman Sachs is shaking up the 2025 playbook for the capital markets industry. In a note shared Monday, analyst Alexander Blostein, CFA outlined key winners and losers in alternative asset managers, brokers, and traditional managers, <a href="https://www.benzinga.com/analyst-stock-ratings/upgrades">with bold rating adjustments.</a> 
Among the top picks are KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) and Raymond James Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RJF#NYSE">RJF</a>), while Hamilton Lane Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLNE#NASDAQ">HLNE</a>) and Cboe Global Markets, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#NYSE">CBOE</a>) face downgrades.
<h3 class="wp-block-heading">Alternative Managers: The 2024 High-Flyers Face Valuation Concerns</h3>
Alternative asset managers outperformed the S&amp;P 500 by a robust 28% in 2024, surging 51% on average. Yet, lofty valuations and slowing growth expectations may challenge the sector&#8217;s momentum in 2025. 
Some stocks nearly doubled: KKR &amp; Co. Inc. climbed +82%, and StepStone Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STEP#NASDAQ">STEP</a>) was up 79%. At the lower end, Carlyle Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CG#NASDAQ">CG</a>) rose 24%, while Hamilton Lane Incorporated posted a 31% gain.
Despite these massive returns, average price-to-earnings (P/E) multiples for the group expanded over 30% last year, with the 2026 expected P/E standing at a steep 24.5x.
"We think some of the multiple expansion is justified by improving organic FRE [fee-related earnings] growth and a cyclical boost from capital markets activity, but valuations are becoming increasingly prohibitive," Blostein said. 
<h3 class="wp-block-heading">Key Themes Driving Alternative Managers In 2025</h3>
Goldman Sachs indicated three major themes shaping the landscape for alternative managers in 2025:
<ol>
<li>Private Credit Competition: After driving 70% of management fee growth in 2024, private credit faces rising competition and risks of commoditization in direct lending, although demand for private investment-grade credit remains solid.</li>
<li>Retail and Private Wealth Expansion: The retail investor channel will continue to grow, but with increasing competition from scaled players.</li>
<li>Private Equity Revival: Fundraising and realization activity is expected to recover as deal markets normalize, benefiting corporate private equity managers.</li>
</ol>
Among alternative managers, Goldman&#8217;s top buys are KKR &amp; Co. Inc. and TPG Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>) for their robust FRE growth potential.
On the flip side, Hamilton Lane Incorporated was cut to Sell on slowing fee growth, with a target of $139. Blue Owl Capital Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OWL#NYSE">OWL</a>) was downgraded to Neutral on slowing organic growth.
<h3 class="wp-block-heading">Brokers: Recovery In M&amp;A Boosts RJF</h3>
Improved capital markets activity in 2025 could boost deal-making, especially in M&amp;A. 
Raymond James Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RJF#NYSE">RJF</a>) was upgraded from Neutral to Buy, with Goldman setting a $185 price target. Blostein highlighted RJF's $2.5 billion excess capital and strong operating leverage as key growth drivers.
LPL Financial Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) remains a top pick, while trust banks like The Bank of New York Mellon Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) and State Street Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) are well-positioned for balanced growth.
<h3 class="wp-block-heading">Traditional Managers: Stabilizing Or Slowing</h3>
Traditional asset managers show mixed potential. 
Franklin Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEN#NYSE">BEN</a>) was upgraded from Sell to Neutral due to its attractive valuation, including a 6.5% dividend yield and a 14% free cash flow yield. Janus Henderson Group plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHG#NYSE">JHG</a>) also moved to Neutral on improving performance fees and ETF growth.
On the downside, Affiliated Managers Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMG#NYSE">AMG</a>) was downgraded to Neutral due to deteriorating EBITDA growth. Cboe Global Markets, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#NYSE">CBOE</a>) was cut from Neutral to Sell as growth in SPX and VIX option products stagnated.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Rating Change</th>
<th>New Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Franklin Resources, Inc. </td>
<td>Sell → Neutral</td>
<td>$22.00</td>
</tr>
<tr>
<td>Janus Henderson Group plc </td>
<td>Sell → Neutral</td>
<td>$45.00</td>
</tr>
<tr>
<td>Affiliated Managers Group, Inc. </td>
<td>Buy → Neutral</td>
<td>$191.00</td>
</tr>
<tr>
<td>Cboe Global Markets, Inc. </td>
<td>Neutral → Sell</td>
<td>$184.00</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Goldman Sachs</figcaption></figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/01/42812603/uber-cfo-highlights-undervalued-stock-while-accelerating-buyback-efforts-through-15-billion-asr-deal">Uber CFO Says Stock Undervalued, Initiates $1.5 Billion Accelerated Stock Buyback</a></li>
</ul>
Photo: Shutterstock

Analyst Color

Large Cap

Mid Cap

Upgrades

HLNE

Janus Henderson Group plc Ordinary Shares

LPLA

STEP

2025 Industry Shake-Up: Goldman Highlights KKR, Raymond James, Hamilton Lane

Keefe, Bruyette &amp; Woods analyst Kyle Voigt maintains Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Market Perform and raises the price target from $217 to $220.

Keefe, Bruyette & Woods Maintains Market Perform on Cboe Global Markets, Raises Price Target to $220

Barclays analyst Benjamin Budish downgrades Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) from Overweight to Equal-Weight and lowers the price target from $230 to $220.

Barclays Downgrades Cboe Global Markets to Equal-Weight, Lowers Price Target to $220

Cboe Global Markets Inc. (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) has announced plans to introduce the first-ever <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42071163/blackrock-spot-bitcoin-etf-options-on-nasdaq-rack-up-9-figure-trading-volume-in-first-few-hours-seems-very-bullish-says-analyst">cash-settled index options</a> tied to Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) spot price.
What Happened: These new financial instruments are <a href="https://ir.cboe.com/news/news-details/2024/Cboe-to-Launch-the-First-Cash-Settled-Options-Product-Related-to-Spot-Bitcoin-Beginning-Monday-December-2/default.aspx">scheduled</a> for launch on Dec. 2 and will be based on the Cboe Bitcoin U.S. ETF Index, which tracks a selection of <a href="https://www.benzinga.com/topic/spot-bitcoin-etf">spot Bitcoin exchange-traded funds (ETFs)</a> listed in the United States.
The move is part of a broader trend of integrating cryptocurrency-related securities into traditional financial markets.
This announcement comes shortly after Nasdaq began listing <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42058823/blackrocks-spot-bitcoin-etf-to-open-for-options-trading-heres-why-it-could-be-a-big-deal-for-bitcoin">spot Bitcoin ETF options</a> earlier this week, enabling U.S. investors to use derivatives to speculate on Bitcoin&#8217;s price movements or hedge their existing positions.
Cboe's initiative adds to the growing suite of crypto-related trading products available in the regulated U.S. market.
Historically, the majority of crypto derivatives trading, such as options and futures, has taken place on offshore platforms due to restrictive U.S. regulations. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42139601/solana-hits-264-record-high-as-etf-filings-regulatory-optimism-drive-market-momentum">Solana Hits $264 Record High As ETF Filings, Regulatory Optimism Drive Market Momentum</a>
Binance and Deribit, both headquartered outside the U.S., have been the dominant players in this space, offering leveraged trading to their users.
However, the increasing appetite for crypto derivatives in the U.S., coupled with President-elect Donald Trump's <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42122348/trumps-planned-crypto-council-may-oversee-bitcoin-reserve-report">pro-crypto stance</a>, is driving U.S.-based marketplaces to expand their offerings.
Why It Matters: This shift has allowed institutional and retail investors to access new tools for managing risk and amplifying returns.
CME Group, which already offers Bitcoin futures, has reported a significant increase in open interest, reflecting heightened activity from institutional investors. 
This growth has begun to erode Binance's market share. 
Additionally, over-the-counter options trading has emerged as a popular strategy among U.S. institutions seeking to hedge their crypto positions or implement more complex trading strategies.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42138209/microstrategy-trading-at-insane-256-premium-to-bitcoin-holdings-research-shows">MicroStrategy Trading At &#8216;Insane&#8217; 256% Premium To Bitcoin Holdings, Research Shows</a></li>
</ul>
Image: Shutterstock

$BTC

Cboe To Launch Cash-Settled Bitcoin Index Options

Markets

Cboe To Launch First Cash-Settled Spot Bitcoin Index Options On December 2, Expanding Investor Access To Crypto Derivatives

Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) is up 10% on the day and closing in on its all-time high as new Solana spot ETF filings indicate <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40470226/solana-etf-approval-in-2024-has-only-a-6-chance-a-snowballs-chance-in-hell-etf-analyst-say">continued institutional interest.</a>
What Happened: Eleanor Terrett of Fox Business on Thursday tweeted that the SEC is reportedly engaging with issuers interested in launching a Solana spot ETF, with progress being made on S-1 applications, citing <a href="https://x.com/EleanorTerrett/status/1859611713579999366">sources</a> familiar with the matter.
Issuers like <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39598039/vanecks-solana-etf-proposal-dependent-on-trumps-presidential-win-matthew-sigel-confirms">VanEck</a>, 21Shares and Canary Funds have already filed S-1s, while Bitwise recently announced its intent to do so. 
Exchanges like <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39679535/solana-jumps-5-5-as-cboe-files-application-with-sec-to-list-vaneck-21shares-spot-etfs">Cboe Global Markets</a> (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) are expected to submit 19b4 filings on behalf of these issuers soon, a key step in seeking SEC approval to list these ETFs.
Once filed, the SEC has 240 days to approve or deny the products. However, the filing of the 19b4's does not guarantee an approval by the SEC.
While prior 19b4 filings for similar products were <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40454074/solana-a-security-sec-concerns-reportedly-led-to-pause-in-etf-filing-process">withdrawn</a>, industry optimism is growing due to increased SEC engagement and the potential for a more <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42098407/donald-trump-reportedly-eyeing-the-first-crypto-focused-role-in-the-white-house">pro-crypto regulatory stance </a>under the incoming administration. 
A decision on a Solana ETF could come as early as 2025 and be made by the successor of current SEC Chair Gary Gensler, who <a href="https://www.benzinga.com/government/regulations/24/11/42120607/gary-gensler-to-step-down-as-sec-chair-on-trumps-inauguration-day">announced his resignation</a> effective January 20, 2025.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42046709/raoul-pal-bullish-on-solana-and-memes-dogecoin-does-nothing-does-nothing-and-then-explodes">Raoul Pal Bullish On Solana And Memes: &#8216;Dogecoin Does Nothing, Does Nothing And Then Explodes&#8217;</a>
Trader Notes: Crypto trader Cold Blooded Shiller emphasized that Solana has climbed 35% since his initial recommendation during its consolidation phase. 
After five months of sideways price action within a high-timeframe range, the recent rally has renewed <a href="https://x.com/ColdBloodShill/status/1859613566447354322">his</a> optimism for a $500 price target.
Veteran trader Jacob Canfield pointed out that Solana's current levels are nearing its all-time highs, praising its resilience. 
Despite being declared "dead" numerous times, Solana has surged from $8 to its current levels, proving skeptics wrong.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> &#8211; All time highs are so close you can almost taste them. What a run from $8 and being declared &quot;dead&#39; about 5,000 times. <a href="https://t.co/fmHyRpk10c">pic.twitter.com/fmHyRpk10c</a>
&mdash; Jacob Canfield (@JacobCanfield) <a href="https://twitter.com/JacobCanfield/status/1859616013853044899?ref_src=twsrc%5Etfw">November 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
DefiLlama data highlights Solana's growing momentum, with its total value locked (TVL) reaching $8.6 billion—the highest since November 2021. Revenue is also at an all-time high, hitting $5.9 million.
Price Action: Solana is up 10% on the day, trading around $256 at the time of writing. It has reached a new all-time high market capitalization of over $120 billion.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41951937/solana-rallies-13-in-7-days-bullish-as-long-as-200-holds-says-veteran-trader">Solana Rallies 13% In 7 Days: &#8216;Bullish As Long As $200 Holds,&#8217; Says Veteran Trader</a></li>
</ul>
Image: Shutterstock

$SOL

Solana Soars 10%, Reaches New All-Time High Market Cap: What Is Going On?

Deutsche Bank analyst Brian Bedell upgraded Cboe Global Markets, Inc. (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) to Buy from Hold and raised the <a href="https://www.benzinga.com/quote/cboe/analyst-ratings" target="_blank" rel="noreferrer noopener">price target to $222</a>.
The analyst&#8217;s bullish stance reflects their updated outlook that CBOE will sustain strong revenue growth through at least 2025.
Bedell expects continued volatility in equity markets, especially following the U.S. elections, which will likely increase demand for index <a target="_blank" href="https://www.benzinga.com/markets/24/11/41869001/heres-how-trumps-policies-might-shape-the-markets-future" rel="noreferrer noopener">and volatility options and futures</a>.
Additionally, the analyst anticipates organic growth driven by ongoing product innovation and rising adoption of options, particularly with the upcoming launch of index options on Robinhood.
Also, the analyst projects stronger revenue growth to lead to positive operating leverage next year, allowing management to exceed its expectations for operating margin stability, as discussed on the recent third-quarter earnings call.
Notably, this month, the company reported third-quarter adjusted EPS of $2.22, which surpassed the $2.19 estimate, and sales of $532.0 million, beating <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n41680696/cboe-global-markets-reports-results-for-third-quarter-2024" rel="noreferrer noopener">the expected $530.8 million</a>.
The analyst adds that along with a modest level of share repurchases, this should support high single-digit EPS growth in 2025 and 2026, surpassing their previous forecast of low-to-mid single-digit growth.
Overall, the analyst revised the forecasts for the company, now projecting 8% revenue growth in 2025 and 6% growth in 2026, up from the previous estimates of 6% and 3%, respectively.
Despite robust growth in index product revenue of 55% and 35% in 2022 and 2023, the analyst anticipates index revenue will still grow by at least 10% in 2025, even with challenging comparisons and high volume levels.
Investors can gain exposure to the stock via&nbsp;Listed Funds Trust Horizon Kinetics Blockchain Development ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCDF#NYSE">BCDF</a>) and iShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>).
Price Action: CBOE shares are up 1.88% at $200.56 at the last check Monday.
Photo by Ground Picture on Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41783469/cboe-faces-downgrade-analyst-warns-of-earnings-risks-amid-valuation-concerns-and-sl" target="_blank" rel="noreferrer noopener">Cboe Faces Downgrade: Analyst Warns Of Earnings Risks Amid Valuation Concerns And Sluggish Volume</a></li>
</ul>

Equities

Trading Ideas

Listed Funds Trust Horizon Kinetics Blockchain Development ETF

BCDF

iShares Dow Jones US Broker Dealers Index Fund

Cboe Upgraded To Buy: Deutsche Bank Sees Strong Revenue Growth And Margin Gains Through 2025

Deutsche Bank analyst Brian Bedell upgrades Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) from Hold to Buy and raises the price target from $212 to $222.

Deutsche Bank Upgrades Cboe Global Markets to Buy, Raises Price Target to $222

Morgan Stanley analyst Michael J. Cyprys downgraded Cboe Global Markets, Inc. (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) to Underweight from Equal-Weight, <a target="_blank" href="https://www.benzinga.com/quote/CBOE/analyst-ratings" rel="noreferrer noopener">with a price forecast of $199 (unchanged).</a>
The analyst highlights three key concerns that could impact earnings, sentiment, and valuation, leading to their downgrade: decelerating volume growth, limited potential for margin expansion due to management's focus on stability and investments, and a preference for M&amp;A over divestitures, with fewer share repurchases.
The analyst explains that the stock was downgraded due to its premium valuation, which seems to reflect expectations of strong topline growth. However, risks are seen in decelerating volumes and revenue, which could result in earnings disappointments and a contraction in the stock's multiple.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41778433/s-p-500-dow-hit-record-highs-after-trump-win-fear-index-drops-20" rel="noreferrer noopener">S&amp;P 500, Dow Hit Record Highs After Trump Win; Fear Index Drops 20%</a>
Cyprys notes that an improved macroeconomic environment offers fewer catalysts to drive volume growth to new highs, especially after the U.S. election and with a rising likelihood of a soft landing.
The analyst mentions that new initiatives like the Robinhood launch may take time to have a significant impact on volumes.
Additionally, a shift toward single-name options and higher OCC margin requirements present further risks to the growth of index options.
The analyst projects tough comparisons due to a sharp slowdown in index option volume growth, which may bring revenue growth closer to management's medium-term guidance of 5-7%.
However, the stock is priced for stronger growth, in the high single to double digits, similar to the ~11% average seen by CBOE in recent years. While new initiatives could drive growth, the analyst writes that they will take time to materialize.
Price Action: CBOE shares are down 5.49% at $200.52 at the last check Wednesday.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40291832/cboe-refiles-application-for-bitcoin-etf-options-signaling-potential-sec-engagement" target="_blank" rel="noreferrer noopener">CBOE Refiles Application For Bitcoin ETF Options, Signaling Potential SEC Engagement</a></li>
</ul>

Movers

General

Cboe Faces Downgrade: Analyst Warns Of Earnings Risks Amid Valuation Concerns And Sluggish Volume

Morgan Stanley analyst Michael Cyprys downgrades Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) from Equal-Weight to Underweight and announces $199 price target.

Morgan Stanley Downgrades Cboe Global Markets to Underweight, Announces $199 Price Target

Deutsche Bank analyst Brian Bedell maintains Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Hold and lowers the price target from $214 to $212.

Deutsche Bank Maintains Hold on Cboe Global Markets, Lowers Price Target to $212

RBC Capital analyst Ashish Sabadra reiterates Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Sector Perform and maintains $220 price target.

Reiteration

RBC Capital Reiterates Sector Perform on Cboe Global Markets, Maintains $220 Price Target

Barclays analyst Benjamin Budish maintains Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Overweight and lowers the price target from $239 to $230.

Barclays Maintains Overweight on Cboe Global Markets, Lowers Price Target to $230

Wall Street rebounded Friday following Thursday&#8217;s selloff, yet midday gains were still insufficient to prevent a second consecutive weekly decline for the S&amp;P 500, currently <a href="https://www.benzinga.com/markets">down 1% for the week. </a>
Concerns over tech earnings eased after Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) outperformed expectations, restoring some risk appetite and supporting the sector rebound.
Amazon shares surged over 6%, heading for their best session since February.
The Nasdaq 100, up by 1.1%, outperformed the S&amp;P 500, up 0.8%. 
In economic data, the U.S. economy added just 12,000 jobs in October, a steep drop from the 223,000 gain in September and well below the forecast of 113,000, as hurricanes and strikes led to hiring freezes nationwide. 
Despite the weak job figures, the unemployment rate held steady at 4.1%, indicating companies chose to retain workers rather than downsize.
The ISM Manufacturing PMI signaled contraction for the seventh consecutive month in October, with the index missing estimates.
Oil prices experienced a volatile session, initially spiking on reports of an imminent retaliatory attack by Iran on Israel before pulling back as those concerns faded. Gold edged down 0.1%.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) dipped 0.3%, slipping below the $70,000 mark.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % change</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,123.15</td>
<td>1.2%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,161.88</td>
<td>1.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,751.05</td>
<td>0.8%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,209.70</td>
<td>0.6%</td>
</tr>
</tbody>
</table>
</figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent110124&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.9% to $573.75.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 1.1% to $422.09.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rallied 1.2% to $489.80.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.8% to $219.26.</li>
<li>The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, rising 2%. The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 1.4%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
Stocks reacting to earnings reports included: 
<ul>
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), down 1.6%.</li>
<li>Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), up over 6%.</li>
<li>Atlassian Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>), up 20%.</li>
<li>Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), down 0.7%.</li>
<li>Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), up 2.8%.</li>
<li>Charter Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>), up 13%.</li>
<li>Dominon Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>), down 0.2%.</li>
<li>Cardinal Health Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAH#NYSE">CAH</a>), up 6%.</li>
<li>CBOE Global Markets Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#NYSE">CBOE</a>), down 2.9%.</li>
<li>Waters Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAT#NYSE">WAT</a>), up 17%.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41690576/apple-q4-results-better-than-feared-analysts-highlight-iphone-16-demand-apple-intel">Apple Q4 Results &#8216;Better-Than-Feared&#8217;: Analysts Highlight iPhone 16 Demand, Apple Intelligence Opportunity After &#8216;Rock Solid Quarter&#8217;</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Earnings

Macro Economic Events

Sector ETFs

Broad U.S. Equity ETFs

Econ #s

Economics

Tech

ETFs

AAPL

AMZN

CHTR

SPDR Dow Jones Industrial Average ETF Trust

INTC

TEAM

Select Sector SPDR-Consumer Discretionary

Tech Stocks Surge But S&P 500 Faces Second Weekly Decline, Amazon Rallies, Bitcoin Drops Below $70,000: What's Driving Markets Friday?

In a report released today, Patrick Moley from Piper Sandler maintained a Buy rating on Cboe Global Markets (CBOE – Research Report), with a price ...

Piper Sandler Reaffirms Their Buy Rating on Cboe Global Markets (CBOE)

J.P. Morgan favors brokers heading into 2025

CFTC Chairman Rostin Behnam stated: "After more than seven years at the U.S. Commodity Futures Trading Commission, I will be stepping down from my ...

CFTC Chairman Rostin Behnam announces planned departure

RBC Capital analyst Ashish Sabadra maintained a Hold rating on Cboe Global Markets (CBOE – Research Report) on January 6 and set a price target of ...

RBC Capital Sticks to Their Hold Rating for Cboe Global Markets (CBOE)

Deutsche Bank raised the firm's price target on Cboe Global Markets (CBOE) to $224 from $222 and keeps a Buy rating on the shares as part of a 2025...

Cboe Global Markets price target raised to $224 from $222 at Deutsche Bank

Jefferies analyst Daniel Fannon maintained a Hold rating on Cboe Global Markets (CBOE – Research Report) today and set a price target of $190.00. T...

Cboe Global Markets (CBOE) Receives a Hold from Jefferies

William Blair initiated coverage of Cboe Global Markets (CBOE) with a Market Perform rating. Published first on TheFly – the ultimate source for re...

Cboe Global Markets initiated with a Market Perform at William Blair

Barclays lowered the firm's price target on Cboe Global Markets (CBOE) to $212 from $220 and keeps an Equal Weight rating on the shares. The firm s...

Cboe Global Markets price target lowered to $212 from $220 at Barclays

Analysts have been eager to weigh in on the Financial sector with new ratings on Cboe Global Markets (CBOE – Research Report) and Standard Chartere...

Analysts Offer Insights on Financial Companies: Cboe Global Markets (CBOE) and Standard Chartered (OtherSCBFF)

Trillion-Dollar Shakeup: 3 Dividend Gems I Love In This Market

BRDG

FRGE

HOOD

NDAQ

SCBFF

Screenshot 2024-12-16 at 6.50.17 PM

Options

Interest in Index Options Continue to Grow–Find Out Why

Screenshot 2024-11-15 at 8.03.57 PM

Fintech news covering the emerging Financial Technology services sector

Fintech

Cboe Is Helping Lead The Retail Trading Revolution With A New Robinhood Collaboration

Interview

CEO Of Cboe Sits Down With Benzinga To Talk State Of The Markets

Screenshot 2024-11-08 at 6.43.12 PM

VIX Options Can Help You Navigate All Kinds Of Markets

Screenshot 2024-10-28 at 5.32.09 PM

Futures

Navigating Market Volatility: Cboe Launches Options On VIX Futures

Screenshot 2024-10-07 at 8.35.59 PM

Can 0DTE Options Help Level Up Your Trading Game?

Screenshot 2024-10-04 at 5.37.14 PM

How Index Options Can Help Traders Mitigate Dividend Risk

Screenshot 2024-09-19 at 5.36.36 PM

Guarding Against Uncertainty: How Cboe&#39;s Buffer Protection Indices Mitigate Investment Drawdowns

Screenshot 2024-08-16 at 5.52.09 PM

Cboe Global Markets Announces Launch Of Options On VIX Futures

Screenshot 2024-08-08 at 5.35.27 PM

Federal Reserve

Federal Reserve Leaves Rates Unchanged, Eyes Future Cuts

Press Releases

Cboe Global Markets Reports Trading Volume for October 2024

Cboe Conducts First European Retail Investor Survey; Indicates Strong Demand for European Equity Options and Trusted Financial Education

Cboe to Launch the First Cash-Settled Options Product Related to Spot Bitcoin, Beginning Monday, December 2

Cboe Global Markets to Present at the Goldman Sachs 2024 U.S. Financial Services Conference on December 11

Cboe Global Markets Reports Trading Volume for November 2024

Cboe Global Markets Announces Date of Fourth-Quarter 2024 Earnings Release and Conference Call

Cboe Global Markets to Close its U.S. Markets January 9 in Honor of National Day of Mourning for Former President Jimmy Carter

Cboe Global Markets Reports Trading Volume for December and Full Year 2024

Cboe Global Markets and Metaurus Advisors, LLC Collaborate on New U.S. Equity Index, First of Four in Planned Dispersion Product Suite

Cboe Unveils New Brand for Exchange Technology Platform, Marking New Chapter in Technology Innovation and Growth

Keefe, Bruyette & Woods

Oppenheimer

Barclays

Jefferies

JP Morgan

水曜日、Cboe (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) のETF上場担当副社長兼グローバルヘッドを務めるRob Marrocco氏が、ビットコイン（BTC）とイーサリアム（ETH）以外の<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38986296/will-solana-or-dogecoin-be-the-next-crypto-etf-if-the-ethereum-etf-is-approved">暗号通貨ETFが直面する課題を明らかにしました</a>。
出来事：Marrocco氏は、Solana（CRYPTO:<a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>）やRipple（CRYPTO:<a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>）などの暗号通貨に基づくETFが近い将来に実現する可能性について、懐疑的な意見を<a href="https://etfstore.com/cboes-rob-marrocco-talks-etf-share-classes-crypto-etfs-rise-of-active-more/">示しました</a>。また、これらの資産について先物市場が存在しないという理由を挙げ、それが大きな障害になっていると述べました。
彼は、スポットビットコインとイーサリアムのETFの承認が実現した背景には、先物市場の存在が大きな影響を与えているとも指摘しました。
Solana ETFについての可能性に関して、Marrocco氏は、スポットETFにつながる可能性のある手法として、まず先物に基づくSolana ETFを導入することが望ましいと提案しました。
しかし、先物ETFを導入したとしても、スポットETFの実績を積み上げるにはかなりの時間がかかるという点については、注意を促しました。
Marrocco氏は、暗号通貨に対して包括的な規制フレームワークが必要であると強調し、これを市場参加者と規制当局の両方にとってクリアな答えを提供するものだと述べました。
彼は、立法措置に関連する課題について認識している一方で、先物市場が発展するのを待つよりも、それよりも制定された法令の方がより迅速な道を提供するだろう、との見解を示しました。
多くのエディターたちがMarrocco氏の意見を裏付け、Solanaには先物市場がないことがSECによるETFの承認の障壁となっていると指摘しました。
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" class="wp-image-267246" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" width="300" height="250" /></a></figure>
業界の専門家たちは、Solana ETFの見通しについて意見が分かれており、一部はSolanaについて疑問を持っている一方、最近のイーサリアムETFの承認など、他の者はこれを可能にするものだと信じています。
米国における規制の進化するダイナミクスの中で、21世紀の金融技術（FIT21）法案の成立は重要な出来事でした。
この両党提出の法案の目的は、デジタル資産に関する明確な規制フレームワークを設定し、CFTC（商品先物取引委員会）とSECの間で責任を明確に分けることです。
最近、FIT21は下院を通過しましたが、デジタル資産に関する規制に含まれる不確実性に対応し、投資家の保護と市場の透明性を確保するために尽力しています。 この法律が成立するためには、上院での投票が必要ですが、このような立法プロセスが今後も続いていくことが重要です。
ビットコインとイーサリアム以外の暗号通貨ETFの将来には多くの課題がある一方で、FIT21などの規制の進展は、デジタル資産投資の将来の風景を形作る上で重要な役割を果たす可能性があります。
次なる展開：デジタル資産の未来と変化する規制環境に関するさらなる洞察を得るためには、11月19日にベンジンガの「デジタルアセットの未来」<a href="https://www.benzinga.com/events/digital-assets/agenda/">イベント</a> に参加してみてはいかがでしょう。

Comments

Cboe Global Markets

ニュース

最新ニュース Cboe Global Markets (BATS:CBOE) 株価情報

木曜日, 6 13, 2024

ニュース

パートナーシップ

ベンジンガ・グローバル