Cboe Global Markets (CBOE) Q4 2000 earnings summary

Executive summary

• FY 2000 total options volume reached a record 312.2 million contracts, up 41% YoY; the exchange captured the largest options-exchange share of total options business.

• Customer initiatives included eliminating exchange fees on public customer stock-option orders and expanding the DPM system across equity options.

Financial highlights

• Stock-option volume hit a record 258.0 million contracts, up 64% from the prior fiscal-year record.

• FY 2000 ended with record open interest of 44.9 million contracts, up 90% YoY.

• Average daily volume reached a record 1,229,063 contracts, up 40% YoY; March monthly volume set a record of 35.2 million contracts.

Outlook and guidance

• CBOEdirect, a stand-alone screen-based system for extended-hours trading, was scheduled to launch in 2001 as part of a hybrid strategy combining technology with floor auctions.

• CBOE flex.net, a web-based FLEX options trading system developed with Trading Edge, was scheduled to debut in early 2001.