Forex Trading Platform Cboe Hits $16.6 Million As Net Revenue For Q2 2022

The Chicago Board of Options Exchange (Cboe) Global Markets has released its trading and financial metrics for the second quarter of the year.

The company, which operates various equities, options, and forex marketplaces, announced a 20% increase in its net revenue for the period under consideration.

Its revenue for the quarter stood at $16.6 million, as disclosed by the company in its recent news release.

An Improved Net Transaction And Clearing Fees

Cboe stated that the growth in the second quarter of the year was spurred by “higher net transaction and clearing fees.” While the revenue is an increase from the revenue in Q2 2021, it is a 3% drop from the $17.1 million recorded in Q1 2022.

It shows that while the YoY revenue picked, the QoQ revenue fell slightly.

Also, Cboe announced an increase in its forex trading for the period. Cboe announced that its institutional forex trading marketplace of the company hit $39.6 billion for the quarter.

This also represents a 22% increase from the platform’s record in Q2 2021. Additionally, the firm said its net capture per one million dollars of FX traded on the platform was $2.71 for the second quarter of 2022. This represents a flat performance considering that the net capture in the same quarter last year generated the same figure.

Cboe Controlled 17% Of The Market Share

Cboe also stated that it recorded 17% of the broader market share in the FX market. This is slightly higher than the 16.3% market share it commanded in the second quarter of 2021. However, the figure is only slightly lower than its FX performance in Q1 2022. Cboe stated that it controlled 17.3% of the market share in the first quarter of the year.

Cboe’s net revenue of $424 million only edged that of its first quarter by 1.4%. However, it was 21% higher than its postings in Q1 2021. Additionally, the company’s adjusted diluted earnings per share (EPS) was $1.67, representing a 21% increase in Q2 2022. The company has set its eyes on the broader FX market as it hopes to expand its operations and gain new clients.

Chief Executive Officer of Cboe Global Markets, Edward Tilly, stated that the Q2 result is an impressive performance. He added that the company hopes to continue that feat in the next quarter.

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