The strong results paralleled a miss in consensus eps by only one penny.
Chicago-based CBOE Holdings, Inc. which trades on the NASDAQ under ticker symbol CBOE, today reported its first quarter (Q1) financial results for 2016, with net income reaching $49.2 million and up 17% Year-over-Year (YoY), with $0.60 cents per shared on a diluted basis up 20% over the same period, according to a company press release.
The group’s operating revenue for Q1 was $162.3 million, up 14% on a year-over-year basis when compared to $142.8 million reported in Q1 2015. Trading volumes were also higher quarter-over-quarter (QoQ), yet the amount of revenue per contract dipped slightly as the number of trading days were 61 in Q1 compared to 64 during Q4.
Despite the strong quarter, the earnings per share of 60 cents were a penny short of the 61 cents consensus, and the -2% dip in the company stock price this morning appears to be in line with the broad market and key competitors such as Deutsche Borse which also traded down over 2% this morning, around time of the news.
Commenting in the official press release, CBOE Holdings’ CEO Edward T. Tilly said: "Our first-quarter results reflect the strong contribution and utility of our proprietary products. S&P 500Index (SPX) options, Russell 2000 Index (RUT) options and CBOE Volatility Index (VIX) futures and options posted a 28 percent rise in trading volume, significantly outpacing the 3 percent increase reported for multiply-listed options traded industrywide."
Mr. Tilly added: "Moreover, our team is energized by the opportunities we see for ongoing growth as a result of advancing our strategy to continue to define and lead the options and volatility space globally, develop unique products, Leverage strategic alliances and expand our customer base."
According to the update, the amount of transaction fees earned rose 20% during Q1 driven by a 19% increase in the average revenue per contract (RPC) even as trading volume of 291.3 million contracts was little-changed comparing YoY.
The higher RPC was said to reflect a shift in the ratio of products traded as a higher proportion of volume came from index options and futures contracts which have the highest RPC, and these product categories represented 42.4% of trading volumes in Q1 2016, compared with 33% YoY.
Chicago-based CBOE Holdings, Inc. which trades on the NASDAQ under ticker symbol CBOE, today reported its first quarter (Q1) financial results for 2016, with net income reaching $49.2 million and up 17% Year-over-Year (YoY), with $0.60 cents per shared on a diluted basis up 20% over the same period, according to a company press release.
The group’s operating revenue for Q1 was $162.3 million, up 14% on a year-over-year basis when compared to $142.8 million reported in Q1 2015. Trading volumes were also higher quarter-over-quarter (QoQ), yet the amount of revenue per contract dipped slightly as the number of trading days were 61 in Q1 compared to 64 during Q4.
Despite the strong quarter, the earnings per share of 60 cents were a penny short of the 61 cents consensus, and the -2% dip in the company stock price this morning appears to be in line with the broad market and key competitors such as Deutsche Borse which also traded down over 2% this morning, around time of the news.
Commenting in the official press release, CBOE Holdings’ CEO Edward T. Tilly said: "Our first-quarter results reflect the strong contribution and utility of our proprietary products. S&P 500Index (SPX) options, Russell 2000 Index (RUT) options and CBOE Volatility Index (VIX) futures and options posted a 28 percent rise in trading volume, significantly outpacing the 3 percent increase reported for multiply-listed options traded industrywide."
Mr. Tilly added: "Moreover, our team is energized by the opportunities we see for ongoing growth as a result of advancing our strategy to continue to define and lead the options and volatility space globally, develop unique products, Leverage strategic alliances and expand our customer base."
According to the update, the amount of transaction fees earned rose 20% during Q1 driven by a 19% increase in the average revenue per contract (RPC) even as trading volume of 291.3 million contracts was little-changed comparing YoY.
The higher RPC was said to reflect a shift in the ratio of products traded as a higher proportion of volume came from index options and futures contracts which have the highest RPC, and these product categories represented 42.4% of trading volumes in Q1 2016, compared with 33% YoY.
EU Parliament Imposes €10,000 Cash Payment Limit in New Anti-money Laundering Legislation
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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