everyone and to the I make call and possible and morning. do everyone good team like this Ed, are morning, Thanks, and to Cboe healthy their this I’d thanks everyone. remaining hope who and safe families echo
to remind and me to compared relate that adjusted noted, are XXXX, specifically our everyone Let non-GAAP XQ results. as my on based XXXX unless XQ comments
Ed of Cboe’s the reported turbulence. our products, the resiliency particularly As the results quarter we and of of and for noted, market utility franchise in underscoring record financial times strength
an resulting of increased up X%, which operating net combined non-transaction our XX%, just revenue in in EBITDA up Adjusted expenses resulted growth growth with healthy XX%, fees of revenue Our over increased net X%. XX% margin revenue very XX%. transaction strong adjusted with and
net adjusted our to was The incremental on $X.XX. XXX%. share increased per EBITDA adjusted XX% finally, And revenue margin earnings
XXXX. FT stream Hanweck Consistent Options accessing the increase with in quarterly of grew acquisitions quarter our million of X%, by guidance, we data and to first revenue includes to This proprietary and attributed quarter. market compared prior fees recurring $X our the over capacity
is which acquisitions fees. now reported which of revenue access $X a these and fees Organic XQ X%, excludes in shift and approximately reported growth XXXX, transaction capacity in was in million
The quarter the growth continue by and in to be XX% units subscriptions proprietary to growth access data accounting respectively. driven XX% this incremental for capacity about fees of market in and
that of last the of call, a in Options. to and our revenues mid-single-digits we and noted be reported our will basis, inclusive expectation these the mid which would low At to on FT high-single-digits organically, acquisitions Hanweck grow
these been to fees the realignment Looking the suspended be growth rate capacity Trading ahead, of to access to all-electronic in the expected result mid-single-digits broker temporary fees the fees for low of floor closing. now certain have to a lower due non-transaction to as our reported due move trading. is floor purely
optimistic Having However, said a target proprietary capacity and the data neutral revenue impact. in achieve to achieving that, remaining fees we fee transaction-related comparable organic remain equal. else an All implemented net category. the market we underlying access and growth of attempt remaining about have
form index shift our the higher in in This quarter, higher access will second with fees. RPC options of fee again and revenue associated capacity of revenue and transaction lower occur
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trades. RPC. The net Turning a the and X% increase a from year-over-year in XX% a was in mix million revenue increase or coming $XX a higher shift greater primarily block in RPC to with percentage due to order including futures, ADV of reflects RPC increase volume types XX% higher primarily
due to primarily More the higher or off-exchange. to background. In increased volumes of fees net trading volatility U.S. the in $XX from shifting the dogs equities more to on-exchange venues equities, benefiting barking markets, XX% revenue million, versus transaction with return
Our Cboe it’s and market where U.S. key trading, our rise ETF in share exchange we sequentially benefited a growth on increased BZX year-over-year from particularly been and in equities. the shown have volume
U.S. and Net currency local market revenue on XX% non-transaction offset for and and XX% higher from dollar market in reflecting increase revenue net resulted The volumes, a basis The European continued auction capture basis higher a higher lower and volumes. revenue. a LAX on equities a increased increase by XX% fees transaction strong somewhat periodic captures, reflects share.
trade opening of non-transaction reporting in capacity and increases XXXX. with reflects growth revenue Networks other which to connections revenue. our fees, in access And revenue The incremental and due includes October the in primarily licensing of Amsterdam
market significant market recalibrate their shifts in quarter, the models. to volatile which The share saw of highly was profile decline in the many result the participants conditions primarily market
volumes due the volume a Swiss securities and loss revenue latter global mix in reflecting matter. of our Net all-time increase Swiss a in new increased XX% capture a X% quarter, market net for the volumes in ability FX reflecting for for offer with high to the pinning customer impacted increase by a to Additionally, were type. equivalency by trading XX% shift
strong as SEF ADV amount well full new and highs our set We maintained in as offerings Cboe for on market NDS. share
operating for last up $XX to expenses quarter, were the total against first Turning expenses, quarter. about adjusted year’s X% million
decline in XQ development adjustment and to in benefits, compensation a as a impact this equity benefits software the $X unvested of resulting in result compensation the quarter higher and variant was incentive-based XXXX, net of increase increase a from The key capitalized assets. million due awards relating million expense expense deferred of $X a forfeitures wages of bonus compensation million to in reflecting lower $X and paying
valuation in million compensation Note expense income as include deferred and in that we there the assets paying attempt charge no in offsetting of of impact part reflects $X to change other or guidance. overall earnings. the a adjustment is to an resulting our This not do certain forecast
of plays while of deploying to have focus uncertainty our XXXX, our the light ahead expense greatest around Looking resources this have of management. we how execution impact. prudent steadfast COVID-XX we in recalibrated the remains out, remain much to on the remainder plan expense our pandemic XXXX crisis, a In with
million the $XXX entertainment XXXX, operating million, marketing We adjusted are reducing our resulting costs range guidance a of environment. for for lower lower to primarily $XXX compensation and $XX expenses reflecting million by from expenses current to and and travel events
to Expenses as Chicago existing build-out. accelerate of are in initiatives up growth the second complete expected half our ramp headquarters our plan we to the and year
update XXXX now our an the provided growth This because X% expense we slide bridge last indicating, changes call assumptions. up we provides XXXX flat earnings to to to expense core our expect to be in of to
result, guidance a As plan. include this not does our
build-out the of As clarity. and EuroCCP trading PAN guidance our does this include not a of derivatives acquisition in planned reminder, European
guidance the to few to we other expect and closes, incorporate acquisition next the regulatory months occur in into still conditions. planned XXXX subject which approval to We’ve our after that closing
quarter benefits income effective increase on to due associated of adjusted first greater earnings the the range, our XXXX. tax to awards taxes, but XX% rate rate first for excess equity above tax of year-over-year of our quarter Turning the versus rate primarily at was last guidance The XX.X%. in low-end quarter was year’s tax with XXXX
adjusted our to of which year rate XX.X% We is in XX.X%. tax expected XXXX to be a are reaffirming full on earnings, range
reaffirming our XXXX million. $XX also to spending guidance $XX for We capital to are million
new move the third early on Chicago into are still We of to headquarters in our quarter. part track
availability based of the on shift However, suppliers. current our this could
expect to to XXXX, which in we $XX amortization excludes and XXXX. amortization million for million $XXX be depreciation Furthermore, still intangibles $XX approximately million of of
repurchases. focused Turning and through growth on to while share our capital business of build in to allocation, let dividend me excess remain upon to shareholders underscore, we the strengths, returning investing our cash
position financial Our to very continues strong. be
good balance very solid cash sheet. a capability have generation and We flow
through was to available we authorization repurchases share quarter at through and XXst, share million. $XXX repurchase $XXX the March returned our million dividends. $XX During shareholders And million
$XXX if arises. under at remains funding debt and Our short-term a availability and need we $XXX available revolver our have million million
X.X the leverage trailing quarter year the we with reflecting from end, Our cash adjusted down months one-times and end ratio at XX times year the $XXX million. of earnings moved higher to of at ended of
first from by to expect immediate We million of of move, U.S. our primarily deferral to savings quarter liquidity see security approximately $XX tax Cares $XX taxes as improvements, leasehold million allowed headquarters Act. benefit expenses and the a political the social of deductibility from Chicago
more we the alternatives expect in expect We funding a maintain evaluate cash – to opportunistically. do do not maintain position and conservative near-term to
closing, metric. do across we know many us unknowns, financial these is, reported almost with just record unprecedented In every but times results leaves what financial quarterly we
were no Our handled double technology messaging infrastructure prior with volumes peaks that service disruptions.
with and migrate to collaboratively home beat. all-electronic work our We floor work without from a community our all environment, converted skipping to regulators and a workforce to trading an exchange
of financial fundamentals Regardless and remain our The the our guarding of customers place our maintaining conditions, needs we business in our strong philosophy and sustainable for of associates. these. are to marketing wealth like shareholders of times while is on returns of health and the focused underlying delivering our flexibility serving
I the for turn Debbie over portion the Q&A will instructions that, to call. With on of
