--- title: "Cboe Global Markets Industry Context" description: "Industry Context for Cboe Global Markets (CBOE)." canonical: https://www.getswoopr.com/stocks/companies/cboe-global-markets/industry-context/ source: "Swoopr Investment: https://www.getswoopr.com" --- **Direct answer:** This research guide covers industry context analysis for Cboe Global Markets Industry Context using primary SEC filings as the source of record. Each section identifies what to verify, where to find it, and why it matters to an investment decision. Figures must be confirmed against current filings before use. # Cboe Global Markets Industry Context ## How Does Cboe Global Markets, Inc. Sit in Its SEC Industry Classification? Cboe Global Markets, Inc. files under SEC standard industrial classification 6200, Security & Commodity Brokers, Dealers, Exchanges & Services. Among the 7 companies Swoopr covers under SIC 6200, its latest reported revenue of $4.7 billion ranks 5th. The comparison uses each company's own latest fiscal year, which can differ by up to a year across the group. | Measure | Cboe Global Markets, Inc. (FY2025) | Peer reference | | --- | --- | --- | | Revenue | $4.7 billion | 5th of 7 | | Operating margin | 31.1% | 39.8% (median of 5 peers with a quarter to four times its revenue) | | Revenue growth | +15.1% | +11.6% (median of 5 peers with a quarter to four times its revenue) | Companies of similar size in the same classification: [CME GROUP INC.](https://www.getswoopr.com/stocks/companies/cme-group/) ($6.5 billion), [NASDAQ, INC.](https://www.getswoopr.com/stocks/companies/nasdaq-inc/) ($8.3 billion), [Tradeweb Markets Inc.](https://www.getswoopr.com/stocks/companies/tradeweb-markets-inc/) ($2.1 billion), [Intercontinental Exchange, Inc.](https://www.getswoopr.com/stocks/companies/intercontinental-exchange/) ($12.6 billion), [LPL Financial Holdings Inc.](https://www.getswoopr.com/stocks/companies/lpl-financial-holdings-inc/) ($17.0 billion). A classification code groups companies by how they describe their main business to the SEC, so two companies with the same code can still differ in customers, geography and cost structure. Treat the comparison as a starting point for the questions below. ## Where value can be captured These companies occupy market infrastructure between investors, merchants, issuers, financial institutions, data users, and capital providers. Network effects, liquidity, switching costs, regulatory licenses, and trusted data can be important sources of advantage. For Cboe Global Markets, name suppliers, channels, customers and infrastructure dependencies only when a reliable source establishes the relationship. The goal is to show where the company sits, what it depends on, and where bargaining power resides. ## Industry drivers - Transaction Or Payment Volume: connect this driver to a disclosed KPI and to the financial statement line it influences. - Assets Under Management: connect this driver to a disclosed KPI and to the financial statement line it influences. - Market Activity: connect this driver to a disclosed KPI and to the financial statement line it influences. - Client Assets: connect this driver to a disclosed KPI and to the financial statement line it influences. - Take Rate: connect this driver to a disclosed KPI and to the financial statement line it influences. - Subscription Or Data Revenue: connect this driver to a disclosed KPI and to the financial statement line it influences. - Net Interest Or Spread Income: connect this driver to a disclosed KPI and to the financial statement line it influences. - Customer Growth: connect this driver to a disclosed KPI and to the financial statement line it influences. ## Macro connections - Interest Rates: document the transmission mechanism rather than assuming correlation. - Equity And Credit Markets: document the transmission mechanism rather than assuming correlation. - Volatility: document the transmission mechanism rather than assuming correlation. - Consumer Spending: document the transmission mechanism rather than assuming correlation. - Capital Formation: document the transmission mechanism rather than assuming correlation. - Regulatory Policy: document the transmission mechanism rather than assuming correlation. ## Peer map A starting peer group from the current S&P 500 classification is **CME Group, Coinbase, FactSet, Intercontinental Exchange, MSCI, Moody's Corporation**. Some may be adjacent rather than direct competitors. The latest Cboe Global Markets filing and credible industry sources should refine the map. ## Questions for the supply-chain map - Which inputs are scarce, concentrated, regulated, or difficult to substitute? - Which layer has the highest switching costs? - Where can capacity expand quickly, and where does it take years? - Which participants bear inventory, credit, commodity, or utilization risk? - Is Cboe Global Markets's advantage located in intellectual property, physical assets, licenses, distribution, brand, data, or customer integration? - Which dependency could become a bottleneck under stress? ## References The evergreen analysis above is anchored to verified index metadata and a filing-first research workflow. Time-sensitive financial figures are refreshed from the latest primary filings. - [S&P Dow Jones Indices: S&P 500](https://www.spglobal.com/spdji/en/indices/equity/sp-500/) - [SEC EDGAR company filings for Cboe Global Markets](https://www.sec.gov/edgar/browse/?CIK=1374310&owner=exclude&action=getcompany) - [SEC submissions JSON for CIK 1374310](https://data.sec.gov/submissions/CIK0001374310.json) **Source-review rule:** Check any statement about current revenue, margins, management, products, segment mix, guidance, market share or capital allocation against the latest 10-K, 10-Q, 8-K, proxy statement, earnings release or official investor-relations material before relying on it. **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. 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