(Reuters) -Exchange operator Cboe Global Markets on Friday reported a rise in its quarterly profit, driven by swelled up trading volumes as markets continue to rebound from last year.
Investors turned to Cboe’s proprietary products, such as options linked to the VIX volatility index and the S&P 500, as they rejigged portfolios to hedge against risks brought on by economic uncertainty.
Revenue from the company’s options segment grew 20% to $283.2 million in the quarter.
The Chicago-based group, which provides trading platforms for equities, foreign exchange and derivative products across markets in different regions, saw its net revenue rise 10% to $467.1 million.
Cboe’s results wrap up a strong quarter for exchange operators. Its peer, New York Stock Exchange-parent Intercontinental Exchange, also reported upbeat results on Thursday.
Cboe reported a net income of $188.7 million, or $1.78 per share, for the quarter ended June 30 on an adjusted basis, up from $177.3 million, or $1.67 per share, a year earlier.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Milla Nissi)
