CBOE Holdings, Inc. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis

April 2024 | 50 pages | ID: CBA83E941EEBEN
BAC Reports

Abstracts

CBOE Holdings, Inc. Fundamental Company Report provides a complete overview of the company’s affairs. All available data is presented in a comprehensive and easily accessed format. The report includes financial and SWOT information, industry analysis, opinions, estimates, plus annual and quarterly forecasts made by stock market experts. The report also enables direct comparison to be made between CBOE Holdings, Inc. and its competitors. This provides our Clients with a clear understanding of CBOE Holdings, Inc. position in the Industry.

• The report contains detailed information about CBOE Holdings, Inc. that gives an unrivalled in-depth knowledge about internal business-environment of the company: data about the owners, senior executives, locations, subsidiaries, markets, products, and company history.
• Another part of the report is a SWOT-analysis carried out for CBOE Holdings, Inc.. It involves specifying the objective of the company's business and identifies the different factors that are favorable and unfavorable to achieving that objective. SWOT-analysis helps to understand company’s strengths, weaknesses, opportunities, and possible threats against it.
• The CBOE Holdings, Inc. financial analysis covers the income statement and ratio trend-charts with balance sheets and cash flows presented on an annual and quarterly basis. The report outlines the main financial ratios pertaining to profitability, margin analysis, asset turnover, credit ratios, and company’s long-term solvency. This sort of company's information will assist and strengthen your company’s decision-making processes.
• In the part that describes CBOE Holdings, Inc. competitors and the industry in whole, the information about company's financial ratios is compared to those of its competitors and to the industry. The unique analysis of the market and company’s competitors along with detailed information about the internal and external factors affecting the relevant industry will help to manage your business environment. Your company’s business and sales activities will be boosted by gaining an insight into your competitors’ businesses.
• Also the report provides relevant news, an analysis of PR-activity, and stock price movements. The latter are correlated with pertinent news and press releases, and annual and quarterly forecasts are given by a variety of experts and market research firms. Such information creates your awareness about principal trends of CBOE Holdings, Inc. business.

About CBOE Holdings, Inc.

CBOE Holdings, Inc. intends to operate as the holding company for Chicago Board Options Exchange (CBOE), which operates as an organized marketplace for the trade of standardized, listed options on equity securities. CBOE trades of options on individual equities, market indexes, and exchange-traded funds (ETF).

Products

The options contracts the CBOE lists for trading include options on individual equities, options on various market indexes and options on ETFs. In addition, the company provides marketplaces for trading futures contracts and cash equities through its CBOE Futures Exchange, LLC (CFE) subsidiary and CBOE Stock Exchange, LLC (CBSX).

Equity Options: The company trades options with terms of approximately 9 months on the stocks of approximately 2,300 corporations. The stocks underlying its individual equity options are listed on the NYSE, NYSE Amex, and NASDAQ. In addition, it also trades long-term options, known as LEAPS, on approximately 800 stocks with terms of approximately 39 months.

Index Options: The company trades options on 10 different broad- and narrow-based market indexes, including proprietary indexes that it has developed, such as VIX. It also trades index options based on various benchmarks, including VIX, which has become a measure of equity market volatility. Options based on these indexes are among its most actively traded products, with options traded on the CBOE. The company also trades LEAPS on various of its index products.

Options on ETFs: The company trades options on approximately 200 ETFs based on various domestic and foreign market indexes. It also trades LEAPS on 66 ETFs.

Futures: The CBOE provides a marketplace for trading futures through its wholly owned subsidiary, CFE. CFE focuses on the trading of futures related to CBOE-created benchmarks, such as the CBOE volatility indexes and variance benchmarks.

Equities: The CBOE provides a marketplace for individual equity securities through a new trading facility owned with various broker-dealers. This stock exchange, known as CBSX, provides a marketplace for trading stocks on approximately 6,900 companies listed on NYSE, NASDAQ, and AMEX.

Proprietary Products

The CBOE has developed various of its own proprietary indexes and index methodologies. These include volatility and/or variance indexes based on various broad-based market indexes, such as the S&P 500, the Dow Jones Industrial Average (DJIA), the NASDAQ 100, the Russell 2000, realized variance indicators, the CBOE S&P 500 Implied Correlation Index, a number of sector indexes and a series of option strategy benchmarks, including the BuyWrite, the PutWrite and the Collar indexes based on the S&P 500 and on other broad-based market indexes. The company also has licensed others to use some of these indexes to create products and has entered into agreements whereby it has granted to others the rights to sub-license some of these indexes.

Business Relationships

The Options Clearing Corporation (OCC): The company has 20% interest in OCC, which provides clearing and settlement of exchange-traded securities options in the U.S. OCC also clears securities futures for OneChicago and futures for CFE, for the U.S. operations of NYSE Liffe, for the NASDAQ OMX Future Exchange and for the Electronic Liquidity Exchange (ELX).

CBOE Stock Exchange, LLC (CBSX): The company has 49.96% interest in CBSX, which uses CBOE technology to trade approximately 6,900 stocks listed on the NYSE, NASDAQ and the AMEX. CBSX operates an electronic market model utilizing the CBOEdirect trade engine and a price-time matching algorithm. As of December 31, 2009, there were 62 CBSX trading permit holders and 97 CBOE members with trading access to CBSX.

OneChicago, LLC: The company has 23.7% interest in CBOE, LLC, which owns an equity interest in OneChicago, a joint venture originally created with the CME and the CBOT for the trading of securities futures, which are jointly regulated by both the SEC and the CFTC.

NSX Holdings, Inc: The company owns 4.6% equity interest in NSX Holdings, Inc.

CBOE Futures Exchange, LLC (CFE): The company’s wholly owned subsidiary, CFE, is regulated by the CFTC. The primary products traded on CFE are futures on various measures of market volatility.

C2 Options Exchange, Incorporated (C2): The company’s wholly owned subsidiary, include C2, would operate under a separate exchange license.

CBOE Execution Services, LLC: The company’s wholly owned subsidiary, CBOE Execution Services, LLC, is intended to be available for use as a broker-dealer.

The CBOE also has long-term business relationships with various providers of market indexes.

Standard & Poor's Corporation: The company offers contracts on the S&P 500 Index as a result of a licensing arrangement with Standard & Poor's. This license provides the right to use the S&P 500, the S&P 100, and other indexes published by Standard & Poor's as the basis for standardized, exchange-traded options contracts. Under its license with Standard & Poor's, the CBOE has the right to trade options on the S&P 500 Index and S&P 100 Index.

Dow Jones & Co: The company offers contracts on the DJIA as a result of a licensing arrangement with Dow Jones & Co. This license provides it the right to use the DJIA and other indexes published by Dow Jones & Co. as the basis for standardized, exchange-traded options contracts. Under its license with Dow Jones & Co., the CBOE has the right to trade options on the DJIA during standard U.S. trading hours.

NASDAQ: The company offers contracts on the NASDAQ 100 Index as a result of a licensing arrangement with NASDAQ. This license provides the CBOE the right to use the NASDAQ 100 as the basis for standardized, exchange-traded contracts.

Frank Russell Co: The company offers contracts on the Russell 2000 and other indexes in the Russell index family, as a result of a licensing arrangement with Frank Russell Co. This license provides the CBOE the right to use the Russell indexes as the basis for standardized, exchange-traded contracts.

Competition

The company’s primary direct competitors are NYSE Amex, BOX, ISE, NYSE Arca, NASDAQ OMX PHLX, NOM, and BATS.

History

CBOE Holdings, Inc. was founded in 1973.

The above Company Fundamental Report is a half-ready report and contents are subject to change.
It means that we have all necessary data in our database to prepare the report but need 2-3 days to complete it. During this time we are also updating the report with respect to the current moment. So, you can get all the most recent data available for the same price. Please note that preparation of additional types of analyses requires extra time.

Contents

RESEARCH METHODOLOGY

DISCLAIMER

1. CBOE HOLDINGS, INC. COMPANY PROFILE

1.1. Key facts
1.2. Financial Performance
1.3. Key Executives
1.4. Ownership and Major Holders
1.5. Company History

2. CBOE HOLDINGS, INC. BUSINESS OVERVIEW

2.1. Business Description
2.2. Major Products and Services
2.3. Markets and Sales Activities
2.4. Locations, Subsidiaries, Operating Units

3. CBOE HOLDINGS, INC. SWOT ANALYSIS

3.1. Overview
3.2. Strengths
3.3. Weaknesses
3.4. Opportunities
3.5. Threats

4. CBOE HOLDINGS, INC. FINANCIAL ANALYSIS

4.1. Financial Statements
4.1.1. Income Statement
4.1.2. Balance Sheet
4.1.3. Cash Flow
4.2. Financial Ratios
4.2.1. Profitability
4.2.2. Margin Analysis
4.2.3. Asset Turnover
4.2.4. Credit Ratios
4.2.5. Long-Term Solvency
4.2.6. Growth Over Prior Year
4.2.7. Financial Ratios Charts
4.3. Stock Market Snapshot

5. CBOE HOLDINGS, INC. COMPETITORS AND INDUSTRY ANALYSIS

5.1. CBOE Holdings, Inc. Direct Competitors
5.2. Comparison of CBOE Holdings, Inc. and Direct Competitors Financial Ratios
5.3. Comparison of CBOE Holdings, Inc. and Direct Competitors Stock Charts
5.4. CBOE Holdings, Inc. Industry Analysis
5.4.1. Industry Snapshot
  5.4.2. CBOE Holdings, Inc. Industry Position Analysis

6. CBOE HOLDINGS, INC. NEWS & EVENTS

6.1. News & PR Activity Analysis
6.2. IR Corporate News
6.3. Marketing News
6.4. Corporate Events

7. CBOE HOLDINGS, INC. EXPERTS REVIEW¹

7.1. Experts Consensus
7.2. Experts Revisions

8. CBOE HOLDINGS, INC. ENHANCED SWOT ANALYSIS²

9. UNITED STATES PESTEL ANALYSIS²

9.1. Political Factors
9.2. Economic Factors
9.3. Social Factors
9.4. Technological Factors
9.5. Environmental Factors
9.6. Legal Factors

10. CBOE HOLDINGS, INC. IFE, EFE, IE MATRICES²

10.1. Internal Factor Evaluation Matrix
10.2. External Factor Evaluation Matrix
10.3. Internal External Matrix

11. CBOE HOLDINGS, INC. PORTER FIVE FORCES ANALYSIS²

12. CBOE HOLDINGS, INC. VRIO ANALYSIS²

APPENDIX: RATIO DEFINITIONS

LIST OF FIGURES

CBOE Holdings, Inc. Annual Revenues in Comparison with Cost of Goods Sold and Gross Profit
Profit Margin Chart
Operating Margin Chart
Return on Equity (ROE) Chart
Return on Assets (ROA) Chart
Debt to Equity Chart
Current Ratio Chart
CBOE Holdings, Inc. 1-year Stock Charts
CBOE Holdings, Inc. 5-year Stock Charts
CBOE Holdings, Inc. vs. Main Indexes 1-year Stock Chart
CBOE Holdings, Inc. vs. Direct Competitors 1-year Stock Charts
CBOE Holdings, Inc. Article Density Chart

1 – Data availability depends on company’s security policy.
2 – These sections are available only when you purchase a report with appropriate additional types of analyses.
The complete financial data is available for publicly traded companies.

List Of Tables

LIST OF TABLES

CBOE Holdings, Inc. Key Facts
Profitability
Management Effectiveness
Income Statement Key Figures
Balance Sheet Key Figures
Cash Flow Statement Key Figures
Financial Performance Abbreviation Guide
CBOE Holdings, Inc. Key Executives
CBOE Holdings, Inc. Major Shareholders
CBOE Holdings, Inc. History
CBOE Holdings, Inc. Products
Revenues by Segment
Revenues by Region
CBOE Holdings, Inc. Offices and Representations
CBOE Holdings, Inc. SWOT Analysis
Yearly Income Statement Including Trends
Income Statement Latest 4 Quarters Including Trends
Yearly Balance Sheet Including Trends
Balance Sheet Latest 4 Quarters Including Trends
Yearly Cash Flow Including Trends
Cash Flow Latest 4 Quarters Including Trends
CBOE Holdings, Inc. Profitability Ratios
Margin Analysis Ratios
Asset Turnover Ratios
Credit Ratios
Long-Term Solvency Ratios
Financial Ratios Growth Over Prior Year
CBOE Holdings, Inc. Capital Market Snapshot
CBOE Holdings, Inc. Direct Competitors Key Facts
Direct Competitors Profitability Ratios
Direct Competitors Margin Analysis Ratios
Direct Competitors Asset Turnover Ratios
Direct Competitors Credit Ratios
Direct Competitors Long-Term Solvency Ratios
Industry Statistics
CBOE Holdings, Inc. Industry Position
Company vs. Industry Income Statement Analysis
Company vs. Industry Balance Sheet Analysis
Company vs. Industry Cash Flow Analysis
Company vs. Industry Ratios Comparison
CBOE Holdings, Inc. Consensus Recommendations¹
Analyst Recommendation Summary¹
Price Target Summary¹
Experts Recommendation Trends¹
Revenue Estimates Analysis¹
Earnings Estimates Analysis¹
Historical Surprises¹
Revenue Estimates Trend¹
Earnings Estimates Trend¹
Revenue Revisions¹

ANALYSIS FEATURES

SWOT Analysis

SWOT, which stands for Strengths, Weaknesses, Opportunities and Threats, is an analytical framework that identifies the internal and external factors that are favorable and unfavorable for a company.

Enhanced SWOT Analysis

Enhanced SWOT is a 3×3 grid that arranges strengths, weaknesses, opportunities and threats into one scheme:

• How to use the strengths to take advantage of the opportunities?
• How to use the strengths to reduce likelihood and impact of the threats?
• How to overcome the weaknesses that obstruct taking advantage of the opportunities?
• How to overcome the weaknesses that can make the threats a reality?

Upon answering these questions a company can develop a project plan to improve its business performance.

PESTEL Analysis

PESTEL (also termed as PESTLE) is an ideal tool to strategically analyze what influence different outside factors – political, economic, sociocultural, technological, environmental and legal – exert on a business to later chart its long term targets.

Being part of the external analysis when carrying out a strategic assessment or performing a market study, PESTEL gives an overview of diverse macro-environmental factors that any company should thoughtfully consider. By perceiving these outside environments, businesses can maximally benefit from the opportunities while minimizing the threats to the organization.

Key Factors Examined by PESTEL Analysis:

• Political – What opportunities and pressures are brought by political bodies and what is the degree of public regulations’ impact on the business?
• Economic – What economic policies, trends and structures are expected to affect the organization, what is this influence’s degree?
• Sociological – What cultural and societal aspects will work upon the demand for the business’s products and operations?
• Technological – What impact do the technological aspects, innovations, incentives and barriers have on the organization?
• Environmental – What environmental and ecological facets, both locally and farther afield, are likely to predetermine the business?
• Legal – What laws and legislation will exert influence on the style the business is carried out?

IFE, EFE, IE Matrices

The Internal Factor Evaluation matrix (IFE matrix) is a strategic management tool helping audit or evaluate major weaknesses and strengths in a business’s functional areas. In addition, IFE matrix serves as a basis for identifying and assessing relationships amongst those areas. The IFE matrix is utilised in strategy formulation.

The External Factor Evaluation matrix (EFE matrix) is a tool of strategic management that is typically utilised to assess current market conditions. It is an ideal instrument for visualising and prioritising the threats and opportunities a firm is facing.

The essential difference between the above mentioned matrices lies in the type of factors incorporated in the model; whilst the latter is engaged in internal factors, the former deals exceptionally with external factors – those exposed to social, political, economic, legal, etc. external forces.

Being a continuation of the EFE matrix and IFE matrix models, the Internal External matrix (IE matrix) rests upon an investigation of external and internal business factors integrated into one suggestive model.

Porter Five Forces Analysis

The Porter’s five forces analysis studies the industry of operation and helps the company find new sources of competitive advantage. The analysis surveys an industry through five major questions:

1. What composes a threat of substitute products and services?
2. Is there a threat of new competitors entering the market?
3. What is the intensity of competitive rivalry?
4. How big is the bargaining power of buyers?
5. How significant is the bargaining power of suppliers?

VRIO Analysis

VRIO stands for Value, Rarity, Imitability, Organization. This analysis helps to evaluate all company’s resources and capabilities and bring them together into one aggregate table that includes:

• Tangible resources
  • Financial
  • Physical
  • Technological
  • Organizational
• Intangible resources
  • Human
  • Innovation and Creativity
  • Reputation
• Organizational capabilities

The result of the analysis gives a clear picture of company’s competitive and economic implications, answering the questions if the resources mentioned above are:

• Valuable?
• Rare?
• Costly to imitate?
• Organized properly?