Cboe Global Markets Inc

CBOE: BATS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	LOCK\|#d	LOCK\|V&<$$	LOCK\|k$^dtns

CBOE's Unique Index Options and Futures Products Remain the Key to Its Narrow Moat

Stephen Ellis

Oct 31, 2014

CBOE reported solid third-quarter earnings fueled by higher volume and fees in its core index-options and futures products. Despite the lift in trading activity seen in October, we do not envision a very large change to our $45 fair value estimate.

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Cboe Global Markets Inc

CBOE's Unique Index Options and Futures Products Remain the Key to Its Narrow Moat

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