Cboe Global Markets, Inc. (CBOE) is one of the world’s largest exchange holding companies, most notably the Chicago Board Options Exchange. The company offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and volatility products based on the Cboe Volatility Index (VIX Index), recognized as the world’s premier gauge of U.S. equity market volatility.
Cboe’s subsidiaries include the largest options exchange and the third largest stock exchange operator in the U.S. In addition, the company operates one of the largest stock exchanges by value traded in Europe and is a leading market globally for ETP listings and trading.
The CBOE Volatility Index (VIX)
One of CBOE’s most valuable asset is the Volatility Index (VIX), sometimes nicknamed the Fear Index. The VIX is a measure of expected price fluctuations in the S&P 500 Index options over the next 30 days and is calculated in real time by the CBOE.
Exchange Traded Products (ETPs)
CBOE operates the BZX Exchange, which is the second largest primary listings venue for exchange-traded products (ETPs) in the U.S. Cboe BZX is home to more than 400 ETPs, representing approximately $370 billion in total assets under management from more than 50 unique issuers in the U.S. In Europe, Cboe lists more than 60 ETPs from nine unique issuers.
CBOE Investment Write-ups
- Upslope Capital features CBOE as a new investment in its 2Q2018 letter to investors (July 2018).
- A note from Credit Suisse following the announcement of CBOE acquiring the BATS exchange (September 2016).