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Volatility king CBOE hit by…low volatility

Friday, October 28, 2016 12:49
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(Before It's News)

CBOE Holdings (NASDAQ:CBOE), the Chicago exchange known for its Vix volatility products, has joined Nasdaq and KCG in reporting weakness in trading operations for the third quarter as the list of companies pressured by the current market trend of low volumes and low volatility continues to grow.

Chicago Board Options Exchange is the largest US options exchange and the creator of listed options.

CBOE said on Friday its third quarter operating revenue fell 16% to $156.2mln as trading volume fell by 12%. Earnings dropped 38% to 50 cents a share also hurt by $8.6mln in acquisition-related expenses.

But after a subdued start to the session, CBOE shares grinded higher throughout Friday and were last up 2.1% at $63.48.

Story by ProactiveInvestors

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