Cboe registers 8% Y/Y rise in global FX revenues in Q3 2021
Cboe Global Markets, Inc today posted its financial report for the third quarter of 2021.
The company reported global FX net revenue of $14.3 million, up 8% from the result posted in the equivalent period a year earlier. The rise was mainly driven higher net transaction and clearing fees. The result for the third quarter of 2021 was also better than the one recorded in the second quarter of 2021.
ADNV traded on the Cboe FX platform was $32.4 billion for the quarter, up 7% from last year’s third quarter and net capture per one million dollars traded was $2.77 for the quarter, up 3% compared to $2.70 in the third quarter of 2020.
Cboe FX market share hit a new all-time high of 17.0 percent for the quarter compared to 15.9 percent in last year’s third quarter.
Across all segments, total revenues less cost of revenues of $369.5 million increased 27%, compared to $292.0 million in the prior-year period, reflecting increases in net transaction and clearing fees and access and capacity fees. Inorganic net revenue in the third quarter of 2021 was $16.7 million.
Total operating expenses were $178.8 million versus $152.7 million in the third quarter of 2020.
Diluted EPS for the third quarter of 2021 increased 11 percent to $1.12. Adjusted diluted EPS of $1.45 increased 31 percent compared to 2020’s third quarter results.
EBITDA margin for the third quarter decreased 10.9 percentage points compared to the third quarter of 2020 as a result of the bargain purchase gain recorded in the third quarter of 2020 attributable to the acquisition of EuroCCP.
The company paid cash dividends of $51.5 million, or $0.48 per share, during the third quarter of 2021. The $0.48 dividend represents a 14% year-over-year increase and marks the 11th straight year Cboe has increased its dividend. As of September 30, 2021, the company had approximately $318.9 million of availability remaining under its existing share repurchase authorizations.