Cboe Global Markets, Inc today reported its financial results for the second quarter of 2026.

Global FX net revenue of $27.6 million increased $4.0 million, or 17%, from the second quarter of 2025. The increase was due to higher net transaction and clearing fees.

ADNV traded on the Cboe FX platform was $60.6 billion for the quarter, up 8 percent compared to last year’s second quarter, and net capture rate per one million dollars traded was $2.96 for the second quarter of 2026, up 6 percent compared to $2.81 in the second quarter of 2025.

Total revenues less cost of revenues (referred to as “net revenue”) of $731.6 million increased 25 percent, compared to $587.3 million in the prior-year period, a result of increases across all net revenue captions.

Total operating expenses were $255.6 million versus $248.2 million in the second quarter of 2025, an increase of $7.4 million. This increase was primarily due to an increase in severance expense related to the company’s previously announced strategic realignment and an increase in accrued bonuses related to strong company performance, partially offset by a decrease in impairment expense related to Cboe Japan in 2025.

The effective tax rate for the second quarter of 2026 was 28.6 percent as compared with 29.7 percent in the second quarter of 2025.

Diluted EPS for the second quarter of 2026 increased 50 percent to $3.35 compared to the second quarter of 2025. Adjusted diluted EPS of $3.56 increased 45 percent compared to 2025 second quarter results.

Cboe provided guidance for the 2026 fiscal year as follows:

• Organic total net revenue growth is expected to be in the ‘mid to high teens’ range, up from prior guidance of ‘low double-digit to mid teens’ in 2026.
• Organic net revenue growth from Data Vantage is expected to be in the ‘low teens’ range, up from prior guidance of ‘low double-digit’ in 2026.
• Reaffirms adjusted operating expenses in 2026 are expected to be in the range of $838 to $853 million. The guidance excludes the expected amortization of acquired intangible assets of $59 million; the company adjusts for this amount in its non-GAAP reconciliation.
• Depreciation and amortization expense for 2026 is expected to be in the range of $54 to $58 million, down from our prior guidance of $56 to $60 million, excluding the expected amortization of acquired intangible assets.
• Reaffirms the effective tax rate on adjusted earnings for the full year 2026 is expected to be in the range of 27.5 to 29.5 percent. Significant changes in trading volume, expenses, tax laws or rates, and other items could materially impact this expectation.
• Capital expenditures for 2026 are expected to be in the range of $98 to $108 million, up from Cboe’s prior guidance of $73 to $83 million.