Cboe Global Markets Integrates Digital Asset Derivatives and Announces Wind-Down of Cboe Digital Spot Market asset Trading Platform

Cboe Global Markets, a leading exchange operator, announced on Thursday that it will integrate its digital asset derivatives into its existing Global Derivatives and Clearing business. This move is part of a strategic review aimed at optimizing and aligning the business across different geographies and asset classes, supporting its long-term growth strategy.

Fred Tomczyk, CEO of Cboe Global Markets, stated that this change will enable greater coordination and synergies between the different parts of the business. The company also revealed plans to wind down the operations of its Cboe Digital Spot Market asset trading platform in the third quarter of 2024, with no expected material impact on Cboe’s net revenue in that year.

Cboe, which operates in the US, Japan, Europe, Canada, and Australia, has been exploring new market opportunities as part of their strategy review. This development comes after the integration of digital asset derivatives into the company’s Global Derivatives and Clearing business and the wind-down of the Cboe Digital Spot Market asset trading platform by 2024.

Cboe Global Markets is scheduled to report its first-quarter results on May 3. Tomczyk stated that these changes are intended to help Cboe achieve its long-term growth objectives by enabling it to operate more efficiently across different markets and asset classes. With these changes in place, Cboe Global Markets is well positioned for continued success in an increasingly competitive marketplace.