On Thursday, exchange operator Cboe Global Markets announced its decision to integrate its digital asset derivatives, currently managed by Cboe Digital, into its existing Global Derivatives and Clearing business following a strategic assessment.
As part of this strategic shift, Cboe also disclosed its intention to phase out the operations of its Cboe Digital Spot Market asset trading platform by the third quarter of 2024, according to a statement released by the company.
It emphasized that this move would not significantly impact Cboe’s net revenue for the fiscal year 2024. Fred Tomczyk, Chief Executive Officer of Cboe Global Markets, underscored the rationale behind these changes, stating,
“We believe these changes enable greater optimization and strategic alignment for our business across geographies and asset classes, further supporting our long-term growth strategy.”
Earlier, Tomczyk had indicated that Cboe, with operations spanning the U.S., Japan, Europe, Canada, and Australia, was exploring the possibility of venturing into new markets beyond the United States as part of its broader strategy review.
The company is slated to release its first-quarter results on May 3.
