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CHICAGO - Cboe Global Markets, Inc. (CBOE), the exchange operator trading near its 52-week high with a robust 19% revenue growth over the last twelve months, has appointed two industry veterans to lead its Derivatives and Data businesses, the exchange operator announced Tuesday.
Rob Hocking will rejoin the company as Executive Vice President, Global Head of Derivatives, while Brian McElligott will join as Senior Vice President, Global Head of Cboe Data Vantage. Hocking succeeds Cathy Clay, who is leaving the company. According to InvestingPro, Cboe maintains strong financial health with a current ratio of 1.57, indicating solid operational stability.
Hocking brings over 25 years of experience in global derivatives markets. He previously served as Senior Vice President, Global Head of Product Innovation at Cboe and has held roles at DRW Trading and Goldman Sachs. In his new position, he will oversee Cboe’s global derivatives business, including futures and options markets in the U.S. and Europe.
McElligott, with more than 25 years of experience in data and analytics, will oversee Cboe’s market data and access services, global indices, risk and market analytics, and execution solutions services. His previous roles include Managing Director positions at CME Group, Tradeweb, and Morningstar.
"Rob and Brian bring deep expertise in global markets, strong client and partner relationships, and a relentless focus on innovation," said Craig Donohue, Chief Executive Officer of Cboe Global Markets, in the press release statement.
Both executives will be based in Chicago at Cboe’s global headquarters and will begin their new roles on October 1, 2025. Hocking will report directly to Donohue and join Cboe’s Executive Leadership team, while McElligott will report to Prashant Bhatia, Executive Vice President, Head of Enterprise Strategy & Corporate Development.
In other recent news, Cboe Global Markets, Inc. reported a record net revenue growth of 14% year-over-year for the second quarter of 2025, with significant contributions from its Derivatives Markets, which saw a 17% increase. The DataVantage and Cash & Spot Markets segments also experienced growth of 11% each. In light of these robust financial results, Oppenheimer increased its price target for Cboe to $265 from $253, maintaining an Outperform rating. Similarly, RBC Capital raised its price target to $254 from $220, highlighting the DataVantage segment as a key growth driver. Additionally, Cboe announced a 14% increase in its quarterly dividend, marking the 15th consecutive year of dividend growth. The new dividend of $0.72 per share will be payable on September 15, 2025. In terms of strategic leadership, Cboe appointed Prashant Bhatia as Executive Vice President, Head of Enterprise Strategy & Corporate Development, effective September 2, 2025. Furthermore, the company plans to launch Cboe Continuous futures for bitcoin and ether on November 10, 2025, pending regulatory review.
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