Options was Cboe Global Markets’s largest segment in fiscal 2025, bringing in $2.43B of $4.71B (52%).
| Segment | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Options | $1.82B | $1.94B | $2.00B | $2.43B | |||||||
| North American Equities | $1.68B | $1.35B | $1.55B | $1.67B | |||||||
| U.S. Equities | — | — | — | — | |||||||
| Europe & Asia Pacific | $264.60M | $281.20M | $324.20M | $378.60M | |||||||
| Futures | $119.80M | $129.00M | $141.10M | $135.90M | |||||||
| European Equities | — | — | — | — | |||||||
| Global Fx | $68.90M | $74.90M | $79.90M | $93.80M | |||||||
| Digital | $300.00K | -$4.10M | -$100.00K | — | |||||||
| Corporate Items & Eliminations | — | — | — | — | |||||||
| Total | $3.96B | $3.77B | $4.09B | $4.71B |
Cboe Global Markets brought in $4.71B from its five segments in fiscal 2025, the year ended December 31, 2025. Cboe Global Markets regrouped these segments after fiscal 2024, so the total does not compare directly with that year's $4.09B. Options was the largest at $2.43B (51.6%), ahead of North American Equities at $1.67B (35.5%) and Europe & Asia Pacific at $378.60M (8.0%). The other two segments brought in $229.70M combined.
Compared with fiscal 2024, Options grew fastest, up 21.5% to $2.43B, while Futures fell the most, down 3.7% to $135.90M.
Transaction & Clearing Fees was Cboe Global Markets’s largest product and service line in fiscal 2025, bringing in $3.60B of $4.71B (76%).
| Product and Service | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Transaction & Clearing Fees | $2.94B | $2.83B | $2.90B | $3.60B | |||||||
| Transaction Fees | — | — | — | — | |||||||
| Access & Capacity Fees | $324.20M | $347.50M | $369.80M | $408.70M | |||||||
| Regulatory Fees Cost Of Revenues | — | $223.70M | $426.30M | $285.40M | |||||||
| Regulatory Fees | $364.70M | — | — | — | |||||||
| Market Data Fees | $282.20M | $293.70M | $294.80M | $326.60M | |||||||
| Other Revenue | $48.60M | $77.30M | $99.00M | $95.90M | |||||||
| Access Fees | — | — | — | — | |||||||
| Exchange Services & Other Fees | — | — | — | — | |||||||
| Corporate Items & Eliminations | — | — | — | — | |||||||
| Total | $3.96B | $3.77B | $4.09B | $4.71B |
Cboe Global Markets brought in $4.71B from its five product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 15.1% from $4.09B in fiscal 2024. Transaction & Clearing Fees was the largest at $3.60B (76.3%), ahead of Access & Capacity Fees at $408.70M (8.7%) and Market Data Fees at $326.60M (6.9%). The other two lines brought in $381.30M combined.
Compared with fiscal 2024, Transaction & Clearing Fees grew fastest, up 23.9% to $3.60B, while Regulatory Fees Cost Of Revenues fell the most, down 33.1% to $285.40M.
Cboe Global Markets began breaking out Regulatory Fees Cost Of Revenues in fiscal 2023, when it brought in $223.70M. Cboe Global Markets stopped reporting Regulatory Fees as a separate line after fiscal 2022, when it brought in $364.70M.
Derivatives Markets was Cboe Global Markets’s largest revenue line in fiscal 2025, bringing in $2.24B of $4.71B (48%).
| Statement of Income Location, Balance | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Derivatives Markets | $1.68B | $1.79B | $1.85B | $2.24B | ||
| Cash & Spot Markets | $1.78B | $1.45B | $1.67B | $1.83B | ||
| Data Vantage | $497.00M | $539.20M | $576.60M | $635.50M | ||
| Data & Access Solutions | — | — | — | — | ||
| Total | $3.96B | $3.77B | $4.09B | $4.71B |
Cboe Global Markets brought in $4.71B from its three revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 15.1% from $4.09B in fiscal 2024. Derivatives Markets was the largest at $2.24B (47.6%), ahead of Cash & Spot Markets at $1.83B (38.9%) and Data Vantage at $635.50M (13.5%).
Compared with fiscal 2024, Derivatives Markets grew fastest, up 21.4% to $2.24B. Every revenue line above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these revenue lines grew from $3.96B to $4.71B, a compound annual growth rate of 6.0%. Derivatives Markets' share of the total rose from 42.5% to 47.6%.
Cboe Global Markets (CBOE) reports its revenue by segment, by product and service and by statement of income location, balance. In fiscal 2025, Options was its largest segment, bringing in $2.43B (51.6% of the total), followed by North American Equities at $1.67B (35.5%).
Options was Cboe Global Markets' largest segment in fiscal 2025, bringing in $2.43B, or 51.6% of the $4.71B total across its five segments.
Transaction & Clearing Fees was Cboe Global Markets' largest product and service line in fiscal 2025, bringing in $3.60B, or 76.3% of the $4.71B total across its five product and service lines.
Derivatives Markets was Cboe Global Markets' largest revenue line in fiscal 2025, bringing in $2.24B, or 47.6% of the $4.71B total across its three revenue lines.
Among Cboe Global Markets' product and service lines that make up at least 2% of revenue, Transaction & Clearing Fees grew fastest in fiscal 2025, up 23.9% from $2.90B to $3.60B.
Every figure comes from Cboe Global Markets' annual financial filings, as reported. Each line keeps the name Cboe Global Markets gives it, and years follow its fiscal calendar.
Cboe Global Markets' revenue by segment goes back to fiscal 2015, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.