Routing and clearing — Total cost of revenues
Cboe Global Markets Routing and clearing — Total cost of revenues decreased by 0.5% to $20.00M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 2.0%, from $19.60M to $20.00M. Over 4 years (FY 2021 to FY 2025), Routing and clearing — Total cost of revenues shows relatively stable performance with a -2.2% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
How to read this metric
An increase suggests higher trading volumes or increased reliance on external venues, while a decrease may indicate improved internal routing efficiencies or lower market activity levels.
Detailed definition
This metric represents the direct expenses incurred by the exchange to facilitate the routing of orders to external venu...
Peer comparison
Comparable to transaction-based variable costs or 'cost of sales' in other financial market infrastructure firms, often benchmarked against total transaction volume.
cboe_segment_routing_and_clearing_total_cost_of_revenuesHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $19.90M | $19.00M | $21.80M | $22.30M | $20.90M | $20.20M | $19.80M | $24.00M | $20.80M | $17.80M | $16.50M | $16.00M | $16.60M | $17.40M | $18.30M | $19.60M | $20.70M | $20.00M | $20.10M | $20.00M |
| QoQ Change | — | -4.5% | +14.7% | +2.3% | -6.3% | -3.3% | -2.0% | +21.2% | -13.3% | -14.4% | -7.3% | -3.0% | +3.8% | +4.8% | +5.2% | +7.1% | +5.6% | -3.4% | +0.5% | -0.5% |
| YoY Change | — | — | — | — | +5.0% | +6.3% | -9.2% | +7.6% | -0.5% | -11.9% | -16.7% | -33.3% | -20.2% | -2.2% | +10.9% | +22.5% | +24.7% | +14.9% | +9.8% | +2.0% |
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Frequently Asked Questions
- What is Cboe Global Markets's routing and clearing — total cost of revenues?
- Cboe Global Markets (CBOE) reported routing and clearing — total cost of revenues of $20.00M in Q1 2026.
- How has Cboe Global Markets's routing and clearing — total cost of revenues changed year-over-year?
- Cboe Global Markets's routing and clearing — total cost of revenues increased by 2.0% year-over-year, from $19.60M to $20.00M.
- What is the long-term trend for Cboe Global Markets's routing and clearing — total cost of revenues?
- Over 4 years (2021 to 2025), Cboe Global Markets's routing and clearing — total cost of revenues has grown at a -2.2% compound annual growth rate (CAGR), from $87.80M to $80.40M.
- What does routing and clearing — total cost of revenues mean?
- The direct costs associated with routing customer orders to other exchanges and clearing completed trades.