Cboe Global Markets Integrates Digital Asset Derivatives and Winds Down Cboe Digital Spot Market Platform as Part of Strategic Review

Cboe Global Markets, a leading exchange operator, announced on Thursday that it will be integrating its digital asset derivatives into its existing Global Derivatives and Clearing business as part of a strategic review. This move is intended to enable greater optimization and strategic alignment for the business across different geographies and asset classes, supporting their long-term growth strategy.

Fred Tomczyk, chief executive officer of Cboe Global Markets, stated that these changes are intended to support the company’s expansion plans. In recent years, the company had been exploring the possibility of launching operations in new markets outside the United States as part of their strategy review. With operations in the U.S., Japan, Europe, Canada, and Australia, this move will help Cboe to expand its reach and tap into new opportunities for growth.

Cboe Global Markets also announced that it plans to wind down the operations of its Cboe Digital Spot Market asset trading platform in the third quarter of 2024. While this move may have some material impact on Cboe’s net revenue in that year, Tomczyk believes that these changes are necessary to support the company’s long-term growth strategy.

This development comes after the announcement of 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.