Cboe marks slight rise in global FX revenues in Q2 2021
Cboe Global Markets, Inc today reported financial results for the second quarter of 2021.
Cboe reported total revenues less cost of revenues (referred to as “net revenue”) of $350.6 million for the second quarter of 2021, up 18% from the result reported for the prior-year period, primarily reflecting increases in net transaction and clearing fees and access and capacity fees. Inorganic net revenue in the second quarter of 2021 was $22.2 million.
Diluted EPS for the second quarter of 2021 decreased 5% to $0.98. Adjusted diluted EPS of $1.38 increased 5% compared to 2020’s second quarter results.
Global FX net revenue of $13.8 million increased 1%, primarily as a result of higher net transaction and clearing fees.
ADNV traded on the Cboe FX platform was $32.5 billion for the quarter, up 2% from last year’s second quarter and net capture per one million dollars traded was $2.71 for the quarter, down 2% compared to $2.77 in the second quarter of 2020.
Cboe FX had market share of 16.2% for the quarter compared to 16.4% in last year’s second quarter.
At June 30, 2021, the company had adjusted cash of $442.6 million. Total debt as of June 30, 2021 was $1,298.5 million. The increase in adjusted cash and debt at June 30 compared to December 31, 2020, includes borrowings used to fund the Chi-X acquisition, which closed on July 1, 2021.
The company paid cash dividends of $45.0 million, or $0.42 per share, during the second quarter of 2021 and utilized $33.7 million to repurchase 0.3 million shares of its common stock under its share repurchase program at an average price of $101.57 per share.
As of June 30, 2021, the company had approximately $318.9 million of availability remaining under its existing share repurchase authorizations.