CBOE’s operating expenses spiked 312% due to underperformance of acquired crypto firm

08/02/2022

Less than a minute

2022.08.02 07:45

CBOE's operating expenses spiked 312% due to underperformance of acquired crypto firm
CBOE’s operating expenses spiked 312% due to underperformance of acquired crypto firm

On Friday, Chicago Board Options Exchange (CBOE), the largest options exchange in the United States, announced its second-quarter earnings results. Of particular interest was its total operating expenses, which soared 685% year-over-year from $160.6 million. CBOE explained:

ErisX enables self-directed individual retirement accounts, or IRAs, for U.S. residents to invest in crypto assets. This was CBOE’s first venture into the digital assets sector; the company expects ErisX to be a long-term leader in the industry. The terms of the deal were not disclosed in the original acquisition.

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08/02/2022

Less than a minute