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CHICAGO - Cboe Global Markets Inc. (Cboe: CBOE), a leading derivatives and securities exchange network with an impressive "GREAT" financial health rating according to InvestingPro, has announced the upcoming introduction of new Cboe FTSE Bitcoin Index futures, slated to begin trading on April 28, 2025, subject to regulatory approval. The company, currently trading near its Fair Value, has demonstrated strong operational performance with revenue growth of 8.51% over the last twelve months. These futures will be based on the FTSE Bitcoin Reduced Value (1/10th) Index (Ticker: XBTF) and will be available on the Cboe Futures Exchange, LLC (CFE).
The new XBTF futures are designed to complement Cboe's existing bitcoin derivatives, including options on the Cboe Bitcoin U.S. ETF Index. The introduction of these futures is part of Cboe's strategy to provide market participants with a broader suite of tools for trading and managing bitcoin exposure. The XBTF futures contracts will be cash-settled and will settle in the afternoon on the last business day of each month.
Catherine Clay, Global Head of Derivatives at Cboe, expressed enthusiasm for the expansion of their collaboration with FTSE Russell and the potential of the new futures to meet the growing demand for crypto exposure. She highlighted that Cboe's suite of bitcoin products offers customers a variety of ways to manage bitcoin volatility and implement advanced trading strategies.
Shawn Creighton, Director of Index Derivatives Solutions at FTSE Russell, also commented on the partnership with Cboe, emphasizing the rigorous vetting and monitoring process that ensures the indices are reflective of the investable digital assets market.
Cboe's digital asset offerings have seen significant expansion, with the exchange listing a majority of U.S. spot bitcoin and ether ETFs on its Cboe BZX Equities Exchange. The company also introduced the market's first cash-settled index options related to the price of spot bitcoin, which have led to the listing of new ETFs on Cboe that utilize these options for capped-risk exposure to Bitcoin.
The planned XBTF futures are part of Cboe's ongoing efforts to evolve its bitcoin product ecosystem and provide traders with more tools for navigating the digital assets market. The company's solid financial foundation, with a healthy current ratio of 1.78 and impressive dividend growth of 38.12% in the last twelve months, supports these expansion initiatives. The information in this article is based on a press release statement from Cboe Global Markets, Inc.Want deeper insights into Cboe's financial health and growth potential? InvestingPro offers exclusive access to 12 additional ProTips and comprehensive analysis through their Pro Research Report, helping investors make more informed decisions about this evolving market leader.
In other recent news, Cboe Global Markets reported record U.S. options trading volume in February, with an average daily trading volume of 18 million contracts across its exchanges. This includes a historic 13.6 million multiply-listed options contracts and 3.5 million S&P 500 Index options contracts. UBS has raised its price target for Cboe to $235, citing increased revenue forecasts driven by a 17% rise in index options volumes. Meanwhile, Keefe, Bruyette & Woods adjusted their price target for Cboe to $216, despite an earnings miss attributed to lower net revenues and higher non-operating expenses. They highlighted robust trading volumes and lower projected expenses as positive factors.
Additionally, Cboe announced the promotion of Tim Lipscomb to Executive Vice President and Chief Technology Officer, reflecting the company's strategic focus on technology. RBC Capital Markets noted a surge in trading volumes amid macroeconomic uncertainties, with Cboe experiencing growth in multi-listed options and index options. The company's commitment to advancing its technology platform has been pivotal, as seen in successful migrations to its Cboe Titanium platform. These developments underscore the dynamic environment in which Cboe is operating.
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