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CHICAGO - Cboe Global Markets, Inc. (CBOE) reported record trading volumes in its proprietary index options suite for November 2025, according to a company press release issued Wednesday. The exchange operator’s shares are currently trading near their 52-week high of $260.18, reflecting investor confidence in the company’s strong operational performance.
The exchange operator’s proprietary index options reached a new average daily volume (ADV) record of 5.9 million contracts during the month. S&P 500 Index (SPX) options achieved an ADV record of 4.6 million contracts, while SPX zero-days-to-expiry options hit a new ADV record of 2.8 million contracts.
Additional November records included SPX ADV of 122,000 contracts during Cboe’s global trading hours session and a mini-SPX (XSP) ADV record of 132,000 contracts.
Overall index options trading volume rose 41.4% compared to November 2024, reaching an ADV of 5.9 million contracts. Multi-listed options ADV increased 16.8% year-over-year to 14.4 million contracts.
In the company’s Global FX business, Cboe reported a new record for its Swap Execution Facility Non-Deliverable Forwards, with average daily notional value reaching $3.5 billion.
U.S. equities on-exchange matched shares grew 12.5% compared to the same period last year, while European equities trading volume increased 13.4% year-over-year.
Futures trading on Cboe Futures Exchange saw a 28.3% increase in average daily contracts compared to November 2024.
Cboe Global Markets operates derivatives and securities exchanges across North America, Europe, and Asia Pacific, offering trading solutions in multiple asset classes including equities, derivatives, and FX. The company has maintained dividend payments for 16 consecutive years and has raised its dividend for 11 consecutive years, demonstrating financial stability. With a current dividend yield of 1.13% and a strong return over the last decade, InvestingPro’s comprehensive research report reveals whether CBOE is currently undervalued or overvalued based on its Fair Value analysis, along with detailed insights available for over 1,400 US equities.
In other recent news, Cboe Global Markets reported record third-quarter earnings that surpassed analyst expectations, leading to a revised revenue outlook. Following this announcement, TD Cowen raised its price target for Cboe to $274 from $227, maintaining a Hold rating on the stock. The firm cited a "constructive" post-earnings conference call that highlighted the company’s strategic realignment under its new CEO. Additionally, Cboe plans to launch futures and options on its new Magnificent 10 Index on December 8, 2025, pending regulatory review. This index includes large-cap U.S. technology and growth stocks, such as AMD, Broadcom, and Palantir.
In another development, Cboe announced the extension of trading hours for its Russell 2000 Index options to nearly 24 hours a day, starting February 9, 2026. Meanwhile, the Canadian Securities Exchange is reportedly considering acquiring CBOE Canada and CBOE Australia, though discussions are in early stages. These recent developments reflect Cboe’s ongoing strategic initiatives and market expansions.
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