Cboe Global Markets, Inc. today reported financial results for the fourth quarter of 2022 and full year.

Total revenues less cost of revenues of $457.1 million increased 17% year on year, compared to $390.5 million in the prior-year period, reflecting increases in derivatives markets and data and access solutions. Inorganic net revenu1 in the fourth quarter of 2022 was $5.1 million.

Global FX net revenue of $16.9 million increased 14% from the year-ago quarter, primarily as a result of higher net transaction and clearing fees.

ADNV traded on the Cboe FX platform was $40.8 billion for the quarter, up 21% compared to last year’s fourth quarter, and net capture per one million dollars traded was $2.69 for the quarter, down 3 percent compared to $2.77 in the fourth quarter of 2021.

Cboe FX market share was 18.4% for the quarter compared to 16.8% in last year’s fourth quarter, which is a quarterly record for Cboe FX. The increase was driven by the continued adoption of Cboe’s diverse set of FX order types and trading protocols.

Total operating expenses were $206.6 million versus $169.9 million in the fourth quarter of 2021, an increase of $36.7 million, while adjusted operating expenses of $176.6 million increased 28 percent compared to $137.5 million in the fourth quarter of 2021. These increases were primarily due to the acquisitions of Cboe Digital (formerly ErisX) and NEO, as well as higher compensation and benefits, travel and promotional, and technology support services expenses.

Diluted EPS for the fourth quarter of 2022 decreased 3 percent to $1.49 compared to the fourth quarter of 2021. Adjusted diluted EPS of $1.80 increased 6 percent compared to 2021’s fourth quarter results.

“2022 was a year of substantial progress at Cboe as we continued to build out our global network, while delivering record financial results. Our accomplishments in 2022 have laid a strong foundation and, as we enter our 50th year of business, we are more optimistic than ever about the future,” said Edward T. Tilly, Cboe Global Markets Chairman and Chief Executive Officer.

“We are focused on accelerating our momentum in three key areas of our business – Derivatives, Data and Access Solutions and Digital. Furthermore, organic growth efforts aimed at deepening our geographic reach and extending market access to our unique set of products and services around the globe will be critical for us. I want to thank the entire team at Cboe for the tremendous accomplishments produced in 2022, and I look forward to an outstanding year ahead.”