Cboe Global Markets (CBOE) revenue breakdown
By segment, Options is the largest at 52% of fiscal 2025 revenue; Europe and Asia Pacific grew fastest, 20% a year over 8 years.
By product, Transaction and clearing fees is the largest at 76% of fiscal 2025 revenue; Access and capacity fees grew fastest, 10% a year over 4 years.
Revenue by segment
Fiscal years, as Cboe Global Markets reports them in its 10-K filings; fiscal 2025 total $4.7B.
| Segments | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Options | $590M | $884M | $1.1B | $983M | $1.3B | $1.5B | $1.8B | $1.9B | $2.0B | $2.4B | 52% |
| North American Equities | — | $1.1B | $1.4B | $1.2B | $1.8B | $1.6B | $1.7B | $1.4B | $1.5B | $1.7B | 35% |
| Europe and Asia Pacific | — | $90M | $132M | $111M | $140M | $240M | $265M | $281M | $324M | $379M | 8% |
| Futures | $114M | $145M | $150M | $136M | $109M | $121M | $120M | $129M | $141M | $136M | 3% |
| Global FX | — | $38M | $56M | $53M | $58M | $58M | $69M | $75M | $80M | $94M | 2% |
| Digital | — | — | — | — | — | — | $300,000 | -$4M | -$100,000 | — | — |
Revenue by product
Fiscal years, as Cboe Global Markets reports them in its 10-K filings; fiscal 2025 total $4.7B.
| Products | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Transaction and clearing fees | — | — | — | — | — | $2.7B | $2.9B | $2.8B | $2.9B | $3.6B | 76% |
| Access and capacity fees | — | — | — | — | — | $281M | $324M | $348M | $370M | $409M | 9% |
| Market data fees | — | — | — | — | — | $252M | $282M | $294M | $295M | $327M | 7% |
| Regulatory fees cost of revenues | — | — | — | — | — | $208M | $365M | $224M | $426M | $285M | 6% |
| Other revenue | — | — | — | — | — | $61M | $49M | $77M | $99M | $96M | 2% |
| Cash and spot markets | — | — | — | — | $1.8B | — | — | — | — | — | — |
| Transaction and clearing fees | $509M | $1.6B | $2.0B | $1.7B | — | — | — | — | — | — | — |
| Derivatives markets | — | — | — | — | $1.2B | — | — | — | — | — | — |
| Data and access solutions | — | — | — | — | $360M | — | — | — | — | — | — |
| Regulatory fees | $48M | $292M | $334M | $312M | — | — | — | — | — | — | — |
| Access and capacity fees | — | $182M | $211M | $222M | — | — | — | — | — | — | — |
| Market data fees | $33M | $164M | $204M | $214M | — | — | — | — | — | — | — |
| Access fees | $52M | — | — | — | — | — | — | — | — | — | — |
| Exchange services and other fees | $46M | — | — | — | — | — | — | — | — | — | — |
| Other revenue | $14M | $27M | $33M | $33M | — | — | — | — | — | — | — |
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Where does Cboe Global Markets make its money?
In fiscal 2025, by segment: Options $2.4B, North American Equities $1.7B, Europe and Asia Pacific $379M, Futures $136M, Global FX $94M.
From Cboe Global Markets's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.