Cboe plans to integrate digital assets business with derivatives and clearing division

Exchange operator Cboe Global Markets announced on Thursday that it will be integrating its digital asset derivatives, currently offered by Cboe Digital, into its existing Global Derivatives and Clearing business as part of a strategic review. The company also disclosed its plans to wind down the operations of its Cboe Digital Spot Market asset trading platform in the third quarter of 2024. This move, as stated in a press release, will not have a significant impact on Cboe’s net revenue in 2024.

Fred Tomczyk, the chief executive officer of Cboe Global Markets, expressed his belief that these changes will allow for greater optimization and strategic alignment for the business across different geographies and asset classes. He emphasized that this move supports the company’s long-term growth strategy. Tomczyk had previously mentioned that Cboe was contemplating launching operations in new markets outside the United States as part of its ongoing strategy review.

Cboe, a company with operations in the U.S., Japan, Europe, Canada, and Australia, is scheduled to report its first-quarter results on May 3. They are committed to continuing their efforts to adapt and evolve in the ever-changing financial landscape.