Products & Services · Total cost of revenues
Section 31 fees — Total cost of revenues
Cboe Global Markets Section 31 fees — Total cost of revenues decreased by 100.0% to $0.00 in Q3 2025 compared to the prior quarter. Year-over-year, this metric declined by 100.0%, from $129.50M to $0.00. Over 3 years (FY 2021 to FY 2024), Section 31 fees — Total cost of revenues shows an upward trend with a 29.6% CAGR.
Analysis
StatementSegment
CategoryEfficiency
SignalContext dependent
VolatilityVolatile
Rolls up toTotal Cost of Revenue
How to read this metric
An increase suggests higher trading volumes in regulated securities, while a decrease indicates lower market activity or shifts in the regulatory fee rate.
Detailed definition
This metric represents the pass-through costs associated with Section 31 transaction fees mandated by the Securities Exc...
Peer comparison
Comparable to regulatory fee pass-throughs reported by other major national securities exchanges and clearing houses.
Metric ID:
cboe_segment_section_31_fees_total_cost_of_revenuesHistorical Data
18 periods
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $28.80M | $27.90M | $31.00M | $35.70M | $79.60M | $105.40M | $109.10M | $74.90M | $34.50M | $36.10M | $40.20M | $42.10M | $77.70M | $129.50M | $142.10M | $153.10M | $85.30M | $0.00 |
| QoQ Change | — | -3.1% | +11.1% | +15.2% | +123.0% | +32.4% | +3.5% | -31.3% | -53.9% | +4.6% | +11.4% | +4.7% | +84.6% | +66.7% | +9.7% | +7.7% | -44.3% | -100.0% |
| YoY Change | — | — | — | — | +176.4% | +277.8% | +251.9% | +109.8% | -56.7% | -65.7% | -63.2% | -43.8% | +125.2% | +258.7% | +253.5% | +263.7% | +9.8% | -100.0% |
Range$0.00 – $153.10M
CAGR-100.0%
Avg YoY Growth+99.8%
Median YoY Growth+117.5%
Current Streak2 quarters decline
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Frequently Asked Questions
- What is Cboe Global Markets's section 31 fees — total cost of revenues?
- Cboe Global Markets (CBOE) reported section 31 fees — total cost of revenues of $0.00 in Q3 2025.
- How has Cboe Global Markets's section 31 fees — total cost of revenues changed year-over-year?
- Cboe Global Markets's section 31 fees — total cost of revenues decreased by 100.0% year-over-year, from $129.50M to $0.00.
- What is the long-term trend for Cboe Global Markets's section 31 fees — total cost of revenues?
- Over 3 years (2021 to 2024), Cboe Global Markets's section 31 fees — total cost of revenues has grown at a 29.6% compound annual growth rate (CAGR), from $179.60M to $391.40M.
- What does section 31 fees — total cost of revenues mean?
- The total amount of regulatory transaction fees collected from market participants and remitted to the government.