Edward Tilly on market launch
From CBOE Stock | Cboe Global Markets Inc Q1 2021 Earnings Call · · AlphaStreet
“Yesterday we announced plans to go live with this new market on Monday September 6, subject to regulatory approval. We had originally hoped to launch this new venue in June, and while we expect to be operationally ready, the regulatory approval process has taken longer than expected.”
On , Edward Tilly, Former Chairman, President & Chief Executive Officer at Cboe Global Markets, spoke about market launch during CBOE Stock | Cboe Global Markets Inc Q1 2021 Earnings Call on AlphaStreet.
About Edward Tilly
Edward Tilly, chairman, president and CEO of Cboe Global Markets, discussed the company's financial results and strategic initiatives during earnings calls for the fourth quarter of 2020 and the first quarter of 2021. He stated that Cboe reported solid financial results for the first quarter of 2021, with net revenue up two percent and adjusted earnings per share down seven percent year over year, while noting strong sequential growth. Tilly said the company achieved 17 percent growth in recurring non-transaction revenues, exceeding expectations, and increased its 2021 growth target for organic recurring non-transaction revenues to a range of 10 to 11 percent from six to seven percent. He also announced plans to launch Cboe Europe Derivatives on September 6, 2021, subject to regulatory approval, and to acquire Chi-X Asia Pacific, which he described as providing a foothold in Australia and Japan. Tilly highlighted the company's performance in 2020, stating that net revenue grew by 10 percent and adjusted earnings per share by 11 percent despite a macro environment that did not favor index trading. He said Cboe returned $520 million to shareholders in 2020, a new high and a 69 percent increase from 2019. Tilly noted plans to invest approximately $25 million in organic growth initiatives in 2021 and expressed confidence that the resurgence of retail investors seen in 2020 would continue, stating that Cboe is well equipped to deliver products and services to meet the needs of this customer base.