Exchange operator Cboe released its financial results for the third quarter of 2024 on Friday.
The company generated sales of just under $1.06bn over the period, a 16% increase on the third quarter period in 2023.
Net income for the period was $218.5m compared to $208.2m in 2023 – a 5% increase.
The discrepancy between growth in sales and net income appears to be due to substantially higher fees paid to the Securities and Exchange Commission and an increase in employee expenses this year.
Revenues were up across across the firm’s different products. However, notable increases were in futures trading revenues, which grew 22% year on year to $38.0m, compared to $32.4m last year.
Options revenues – the largest contributor to overall sales by a large margin – were up 10% to $320.9m.
Both figures for options and futures are quoted in ‘net revenue’ terms, which Cboe defines as being total revenues, less a number of operational costs, including regulatory fees to the SEC and clearing costs.