Cboe Global Markets announced a major strategic realignment of its business portfolio to sharpen its focus on core operations and high-growth areas, following a comprehensive internal review.
The move, announced last week, accompanied record third-quarter results, with net revenue up 14% year-over-year to $605.5 million and adjusted earnings per share rising 20% to $2.67.
The restructuring will see Cboe initiate a sales process for its Australian and Canadian equities businesses, discontinue U.S. and European corporate listings, and scale back costs tied to its exchange-traded product listings, European derivatives, and smaller analytics operations.
“This strategic realignment of our business portfolio and human capital ensures Cboe is well positioned to succeed in a dynamic and evolving market,” said Chief Executive Officer Craig Donohue. He…
