thank Thank Good morning this and morning. you for you, us joining Debbie.
to challenging and Markets, report my of we pleased these extend clearly for highlighting of to continue begin, diversification for results the strength each you navigate ongoing solid revenues. of of well-being best second XXXX to wishes I the I would Global times. loved the our Cboe your ones health quarter like and sincere I'm of Before financial the as at
trading trading in strong cash multi-listed retail by were in volumes continued activity in options, by Our data and and by fueled driven revenues. growth growth results equities market record U.S.
services, We did and in diversify reach products geographic combined brief illustrates a emphatically near-term tradable long-term our with proven leading FX by revenue. Cboe to the I of products. strong mix technology the global expects Markets those in markets single and to global results the began and its XXXX company’s Holdings that say of lane of You'll innovative business financial migrating note I trip years in utilize to and proprietary classes, than asset position Bats’ will four went But platform.” fruits in our Bats here ago will both pan-European equities will Bats because value. significant more acquire our quarter Bats’ proprietary in of transaction with memory in all remarks, positions strategy today's non-transactional trading efficiencies. a down and quote Cboe This And XXXX, quarter franchise agrees line terms release meaningful achieve enhancing a frame that no entitled Holdings’ its onto that second on to company's the that broaden cover trading release, mention to the expand operational not I cost press moment. pause across want product and significantly to a “Cboe strengthen Global
them. grow new tandem Our proprietary with key that revenue upon in products them streams we created are to but build to have strategy, and
revenue and diversify the has classes, reach, broaden our product our with technology expand our across line our close strategy of our leverage changed recurring growth advantage. deal; geographic Our not asset since business transformational mix
with look Bats classes The strengthen quarter acquisition options. product take enabled and us to for expand Let’s set and for lens a to Cboe, drivers. our market through the growth those asset equities global FX new multi-listed our the of European U.S. and at including
challenges us equities scaling clearing Our recurring of just this core a in left presence in environment revenue expanded to adjacent new proprietary the products streams, well our reach year-to-date. chain unprecedented equities value positioned with our activity the market product to extend line data across our the offset in trading invest options. to Furthermore, services U.S. and investments examples to cash drive into proprietary these record further provided made unique broaden in geography, truly of a into equity foundation our products and
an second through saw As and on the Cboe when previous strengthen Cboe equities leveraging at previous for enhancements billion mechanisms the new in to We of offerings. efforts off competitively expanded the cross-sell trading those methodically trading X calls, and all-time price increased discussed we've of high market daily average ability and implementation trading shares the quarterly our quarter to by pay volume year U.S. XX% over traded. equities at continued
priority the retail record our program helped in drive uptake results. Continued
help in two represented our since we on minimal months. value for daily venue remains shares in focus Cboe trading Cboe trading throughout and among the EDGX book impact. launch investors will will periodic with each enable increased their our leading trades outcomes facilitate a proved in of last that and and XXXX to to launch European quantities EDGX equities. the innovation, execution You X% recall large to have quickly November executing individual for to auctions Retail accounting trade example the created product provide In retail their lit auction investors orders believe around improve offering. filed market low runs of Exchange XXXX of our equity of auctions launching book priority find designed and We and in a Europe month is another on BYX executed It with XX% proposal of firms a priority the impact. orders. after in stock U.S. to to SEC similar European liquidity designed periodic market Cboe the order has periodic quality that participants we on day, market order Cboe also market Europe auctions, recently popular on
options. Turning and now equity to record trading
addition achieved market that revelation became in the CX could of trading saw the of and offer to array equity four volume all flexibility models, operating represented on business their tires Cboe the over and we growth model at As that technology. EDGX they on options with trading we superior efficiencies decade were the our product expanding further as We complementing it our the a options you highly in this enviable options technology, in past we line. differentiated profitability remained that opportunities inherent by our in The backdrop, capitalize drivers. operating with of markets BZX but incremental meant capacity and each multi-listed revenue, leverage entrants. our competitive crowded being broader cannot new This know, of further proprietary and both in same of only was a profit through options when leveraging kicking increasingly the space committed something and market the to a margin. the provides to became advanced Bats investment leverage strategic With compete equity inherent the leader
and by continued to leverage product our our expanding class, to addition we global footprint. asset expand line In
products first our into July the to EuroCCP equities acquisition Europe derivatives with which pan-European and European and in six a to expand we the development business sweet Cboe Derivatives derivatives. extend XXXX futures know, introduction derivatives markets key efficient of you As we a on options plan us, significant enhances closed and clearing for market X, on and enables of indices. with European offering launch transparent, half of for a European European us and opportunity to The our spot see our trading equities We lit market. of is equity the
to excited derivatives expertise to our is team the entire marketplace. European Our bring
We more equities MATCHNow in alternative platform and us key which also pathway enable MATCHNow, our our reach. trading capital largest in Canada. North a comprehensive a to equities market our to will broaden and geographic announced equities a build offers QX American a platform expand in to system, strategic business profitable, innovative plans acquire Canada's
Canada to global thereby scale to a this our expansion, allowing strengthening combined contributing earlier, discussed into reach incremental important profitable demonstrate us participants. new I As commitment and to offering step
We expect to close the deal quarter. this
customers. over growth. acquisition help our our increase We’ve expand FT worked to Another Last acquisitions the our marketplace grow a afforded highlight and analysis for promise to to business revenue mix provider, of the we and respond tool in while driver through more few risk users and were that similar data we box. was and Bats allows Cboe revenues our years deal, real-time previous sophisticated building suite continue our important content the and of commitment June, to heightened acquired laid data trading to Bats non-transactional alerts investment, datasets flow us our Alert, we indices, successfully comprehensive our data services analytics to directly we revenue utility markets. data, the information recurring tools and steadily services recent by through deliver made products Hanweck and markets. In attract Silexx past repeat demand service effectively our investing historical to the of to groundwork Information key Solutions, to the diversify never to and has a out order second our of Cboe which us to tools and optimize to analytics, with so us enabled our suite Options, much we market real-time quarter, quarter market that so trade discussed and market of Trade solutions, related which, been the Understanding
and Trade and data optimization. FT pre-trade, client strides with a these their workflows. with great and now Alert Importantly, optimizations our of of portfolio integration on strengthens analytics we’ve alpha investments throughout us along complements integration opportunities, interact at-trade, the our comprehensive of the lifecycle and post-trade, to with Hanweck and and insights, suite transaction; allows Each solutions, made of seamless Options
with volatility we see since and Alert, increased – LiveVol Trade especially We demand Silexx have enhanced demand and acquisition. Greek data Hanweck our and and for have
We’re offering this Hanweck plan Silexx also to quarter. and incorporating to data indices in our beginning growing within data Hanweck drive real-time use
our Turning proprietary products. now to
indexes. declines closing the in in five of than key average The years financial GDP, price levels past XQ daily any quarterly of market uncertainty. and higher to XXXX the XXXX continue The levels quarterly increases events was crisis. since we the other failure The not opportunity over unprecedented thus our earnings volatility despite the to in COVID-XX that to the pandemic U.S., or severely and trade the environment noted, recent broad-based grew institutions marketplace. and contain global offer in continues unemployment limited far As virus impact historic value to an XX.X, a among elevated revenues VIX drive Index quarter observed
finding are volumes around investors proprietary first sidelines, drove of second This of resulted waiting increased that We keeping for more the numbers. investors clarity in COVID-XX record lower quarter compared that to our the first quarter institutional and are the for derisk in virus. resulted in uncertainty institutional to the levels the most quarter products of volumes impacts longer-term now the on
said elevated these see to As headed, is when where we’ve again before, the clear we market have views volumes. on participants expect once
proprietary smaller We launch investor launch provide further however, regulatory continue smaller ability response product our agreement exclusive Mini-VIX since announced to expand XX, by and flexibility in managed our Cboe and market through futures Mini-VIX our high proprietary to when with offering. futures index accounts. extending news, their futures The in and recently XXXX yield volatility see its futures FTSE to seen amongst continue of strengthened corporate licensing iBoxx precision on allocating subject gradual Cboe is we product we've In review. designed our iBoxx risk XXXX. to August plan but contract where uptake, its iShares relationship steady other strategic to bond XXXX. greater exemplify VIX In demand, management additional to adoptions Russell
the The home to to further suite continue vantage our We Russell index extension Cboe’s side-by-side work agreement Russell-derived of access exclusive for providing products. every point are a provider. major to solidifies of and excited as with FTSE
once June Turning trading resumed of investors XX, to again a liquidity we and successfully range products. provides trading. wide hybrid floor. to the now return On trading across Cboe trading floor to access The reopened CX hybrid unparalleled Cboe’s the and safely best-in-class
proliferate great our an would efforts willingness us also to transition environment, like safe injustice. against global floor to and quarter, Cboe to past historic to a spotlight to uprising work with backdrop team has as is historic to present racial community. reopening to quickly to despite racial pandemic firsts. us these for thank a thank inequity a I a and The prompted listen, through on and of continued supporting them credit alongside for our team ongoing play trading greater for a to trading can reflect efforts the of fight Cboe orderly and diversity justice ability a with the and role internally in how culture I a two organizations the by collaboration social define redoubling floor their inclusivity. to all-electronic strengthen Our reconfigure and solution that for then our by our entire that like would
Our testimony continued deals spirit of competitive is and ability and financial the new an we generate Cboe close environment services, the discipline highly a products create positive services, have with imagined reward shareholders, team. all could results, strategic and teams that integrate expertise, never to new to and
include and our streams us our organically to the industry leading Thank to And enabled in and which turn it Our products the complementary with reinforce of disciplined growth and revenue, vectors new flexibility to recurring approach to provide invest services, have and over that, will operating sustain additional inorganically business. in momentum I technology expand underlying Brian. and advantage enhance efficiency you.
