FAQ on Cboe's Decision to Cease Japanese Equities Operations

What is Cboe Global Markets ceasing in Japan?

Cboe Global Markets is winding down its Japanese equities business, including the operations of its Cboe Japan proprietary trading system and Cboe BIDS Japan block trading platform.

Why is Cboe ceasing its Japanese equities operations?

The decision reflects Cboe’s disciplined strategy to allocate resources towards opportunities with the best potential returns for shareholders, amidst evolving business conditions that challenged the financial sustainability of its equities business in Japan.

When will Cboe suspend its Japanese equities operations?

Cboe expects to suspend operations for its Japanese equities business on August 29, 2025, subject to consultation with regulators.

How will this decision affect Cboe’s financials?

The wind down is anticipated to have an immaterial impact on Cboe’s organic total net revenue growth and adjusted operating expense guidance in 2025, with adjusted expense savings estimated between $2 million to $4 million in 2025 and $10 million to $12 million annually thereafter.

What does Cboe plan to focus on in Japan after ceasing equities operations?

Cboe remains committed to serving Japan by leveraging its global derivatives and data capabilities, offering high-quality market data and a suite of tradable derivatives products to meet the demand for greater access to international markets.

Who made the announcement about ceasing Japanese equities operations?

Craig Donohue, CEO at Cboe Global Markets, announced the strategic decision to exit the Japanese equities business.

Where can I find more details about Cboe’s decision and its financial implications?

More details will be provided during Cboe’s second-quarter 2025 earnings call on August 1, 2025, with a live audio webcast available on the Investor Relations section of Cboe’s website at ir.cboe.com under Events.

What are the implications of this decision for Japanese market participants?

Japanese market participants will no longer have access to Cboe’s equities trading platforms in Japan but can still engage with Cboe’s global derivatives and data offerings for international market access.