All companies listed on the Main Market of Qatar Stock Exchange (*excluding of two companies) have disclosed their financial results for the period ending on March 31, 2026, with a net profit of 12.76 Billion Qatari Riyals for that period compared to 13.19 Billion Qatari Riyals for the same period last year 2025, an decrease of 3.29 %.  It is worth noting that all financial data of the listed companies are available on the website of the Qatar Stock Exchange. Qatar Stock Exchange would like to thank all listed companies for their efforts in enhancing the disclosure and transparency principles. * Al Faleh Educational Holding Q.P.S.C :The financial year ends on 31 August each year. * Qatar German Medical Devices Company: The disclosure of its financial results for the First Quarter Financial Statements for the Year 2026 to be held on 12/05/2026 .

Total operating revenues reached KD 10.15 million, with operating profit at KD 7.31 million and earnings per share at 29.82 fils Total turnover of institutional investors rose to 73.28% while international investors (including GCC nationals) increased their share of total market trading to 21.60% Despite regional tensions, Boursa Kuwait weathered geopolitical shocks with operational resilience Boursa Kuwait Securities Company held its Board of Directors meeting on Thursday,30 April 2026, and announced its financial results for the three months ended 31 March 2026, recording a net profit of KD 5.99 million. The company also achieved total operating revenues of KD 10.15 million for the three months ended 31 March 2026, while operating profit for the period stood at KD 7.31 million. Meanwhile, earnings per share stood at 29.82 fils for the period ended 31 March 2026. Click here for full details.

SIFMA and SIFMA AMG today submitted a letter in response to the Office of the Comptroller of the Currency (OCC) proposal implementing the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act for the issuance of stablecoins by entities subject to OCC jurisdiction. SIFMA supports the development of a credible, risk-sensitive prudential framework for payment stablecoin activity and commends the OCC for advancing a proposal that recognizes the multi-party nature of the payment stablecoin ecosystem and the need for clear supervisory standards governing issuers, custodians, and other participants. SIFMA believes that the proposal would benefit from additional clarification, more targeted calibration, and, in some cases, treatment that better reflects differences across issuer types. SIFMA recommends that the same risk, same activity, and same regulatory outcome principle apply across issuer types; that the final rule provides clear standards for compliance and supervision while preserving room for market development; and that the OCC coordinate closely with the other GENIUS Act regulatory agencies and, where appropriate, with the SEC and CFTC. “SIFMA welcomes the OCC’s proposal as a strong foundation for the federal regulation of payment stablecoins,” said Peter Ryan, SIFMA managing director, head of digital assets and international prudential policy. “Given the projected scale of payment stablecoin issuance and its potential interaction with short-dated Treasury and repo markets, careful calibration of the final rule will be essential to support both safe and sound issuance and the continued resilience of U.S. capital markets.” SIFMA’s recommendations include the following: Scope and Covered Entities: The OCC should clarify the scope of the proposal’s application to covered entities and the allocation of regulatory responsibility across issuers, custodians, distributors, wallet providers, and payment intermediaries. The OCC should also provide clear guidance on identifying compliant payment stablecoins as tokens circulate across distributed ledger networks and intermediary platforms, and establish reasonable transition periods for requirements that necessitate significant operational buildout or industry coordination. Definitions: The definition of “distributed ledger” should not inadvertently exclude permissioned or private ledger architectures. The $10 billion federal oversight threshold should be strengthened to close potential arbitrage pathways through multi-entity structuring. SIFMA supports the OCC’s proposed approach to multi-brand stablecoin issuance, subject to appropriate reserve segregation and brand-specific transparency requirements. Permitted Activities: The OCC should calibrate affiliate transaction restrictions to issuer organizational form to avoid both duplicative obligations for bank-affiliated permitted payment stablecoin issuers (PPSIs) and insufficient specificity for nonbank PPSIs. The OCC should also confirm that PPSIs may engage only in the activities permitted by the GENIUS Act, with any additional activities conducted through a separate legal entity, and clarify the authority of federally supervised digital asset service providers to engage in GENIUS Act activities. Reserve Assets: SIFMA recommends removing assets held in custody from the proposed 40 percent single-institution concentration limit, increasing the weighted average maturity limit from 20 days to 60 days to align with the statutory 93-day maturity ceiling and the framework applicable to government money market funds, and broadening the weekly liquidity requirement to include any eligible reserve asset convertible to cash within five business days. The OCC should also confirm that money market funds investing exclusively in GENIUS Act-permitted assets receive treatment comparable to the underlying assets. Redemption Requirements: The OCC should remove the automatic seven-day redemption extension triggered by a 10 percent outflow threshold, which risks encouraging preemptive redemptions and worsening run dynamics, and could transmit pressure to short-dated Treasury and repo markets. The final rule should instead emphasize ex ante liquidity planning, stress testing, and supervisory escalation triggers. Custody: The OCC should clarify the interaction of the proposal’s custody and control concepts with existing legal and regulatory frameworks—including broker-dealer custody standards—and permit omnibus account structures subject to adequate control, reconciliation, and recordkeeping. The OCC should also impose strong capital requirements for self-custody of reserve assets, confirm that reserve cash may be held as general deposits, and coordinate with the SEC and FINRA on custody definitions and segregation standards. Operational Backstop and Capital Requirements: The OCC should clarify the expected insolvency and bankruptcy treatment of reserves, the capital treatment of third-party payment stablecoin exposures held by banking organizations, and the application of the operational backstop to rapidly scaling and de novo issuers. The OCC should also confirm that the operational backstop must be funded with capital rather than debt and should look through to capture material operational expenses booked at the affiliate level. The letter is available at the following link: https://www.sifma.org/advocacy/letters/occ-notice-of-proposed-rulemaking-implementation-of-the-genius-act-for-stablecoin-issuance

Andy Kessler’s “Gambling by Another Name” (Inside View, April 27) distorts reality, so as the head of the federal agency tasked with regulating commodity derivatives markets, I am happy to offer some needed clarification: Under the Commodity Exchange Act, the Commodity Futures Trading Commission holds exclusive authority over prediction markets. While some may harbor skepticism about innovative financial products, we firmly stand by our jurisdiction and remain committed to protecting it. These markets provide significant benefits to individuals, businesses, and the broader economy, and we will continue to ensure their integrity and growth. If we regulate them away like Mr. Kessler wants, then they will continue to grow offshore where there are no rules or guidelines putting our information streams at risk of manipulation by foreign adversaries. Claims that “insider trading is rampant,” and that our insider trading rules are “fuzzier” than others are simply untrue. I’ve made it clear time and time again that anyone who engages in insider trading will be found and prosecuted to the full extent of the law. The agency has a proven track record in preventing and enforcing actions against insider trading. During my first 100 days leading the agency, we strengthened and modernized our strategies to address any bad actors in these markets and have brought enforcement actions against those who violated federal laws. The CFTC continues to serve as a vigilant regulator of prediction markets. These platforms operate as federally regulated exchanges with clearinghouses and comprehensive investor protections, identical to those found in other derivatives markets. Our agency remains dedicated to overseeing these markets thoroughly and responsibly.

The Commodity Futures Trading Commission today announced the U.S. District Court for the Eastern District of Michigan entered a consent order against Andrew Middlebrooks and his firm EIA All Weather Alpha Fund I Partners LLC, a Delaware company, based in the Detroit area, for operating a fraudulent commodity pool.  From at least mid-2017 through April 2022, Middlebrooks and his firm solicited and retained investor funds through a commodity pool, EIA All Weather Alpha Fund I LP, by making false and misleading statements to existing and prospective participants. According to the order, the defendants claimed the pool was extraordinarily profitable despite significant trading losses; exaggerated pool assets under management; and falsely represented the pool’s financial statements were audited by an outside firm. They also issued falsified monthly account statements and financial reports to prospective and existing pool participants. Through this scheme, the defendants pooled millions of dollars from dozens of pool participants in the United States and abroad. The order finds the defendants violated the Commodity Exchange Act and CFTC regulations, as charged. It permanently bans them from further violations of those provisions, from trading for others, from soliciting or accepting funds for trading, and from registering with the CFTC. “As this case demonstrates, the CFTC will not tolerate fraudulent conduct in the markets it oversees and will vigorously pursue fraudsters to protect the American public,” said Director of Enforcement David Miller. The order resolves all claims the CFTC brought against the defendants in August 2022. [See CFTC Press Release No. 8576-22 ] In a related criminal case, the Department of Justice charged Middlebrooks in October 2022 with wire fraud based on the conduct in the CFTC’s complaint. [United States v. Middlebrooks, Case No. 2:22-cr-20516-TGB-EAS (E.D. Mich. Oct. 11, 2022]. Middlebrooks pleaded guilty, and in 2025 he was sentenced to eight years and four months in prison. He was also ordered to pay $34,346,948 in restitution — sanctions which the court recognized in the order. RELATED LINKS Consent Order: Andrew Middlebrooks, et al.

The current reports for the week of April 28, 2026 are now available. Report data is also available in the CFTC Public Reporting Environment (PRE), which allows users to search, filter, customize and download report data. Additional information on Commitments of Traders (COT) | CFTC.gov Historical Viewable Historical Compressed COT Release Schedule CFTC Public Reporting Environment (PRE) PRE User Guide PRE Frequently Asked Questions (FAQs)

Pursuant to Section 19(b)(1)1 of the Securities Exchange Act of 1934 (“Act”)2 and Rule 19b-4 thereunder,3 notice is hereby given that on April 9, 2026, New York Stock Exchange LLC (“NYSE” or the “Exchange”) filed with the Securities and Exchange Commission (the “Commission”) the proposed rule change as described in Items I and II below, which Items have been prepared by the self-regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. Click here for full details.

The Commodity Futures Trading Commission’s Division of Market Oversight and Division of Clearing and Risk today announced they have taken a no-action position regarding swap data reporting and recordkeeping regulations.  The divisions will not recommend the Commission initiate an enforcement action against Gemini Titan, LLC, a designated contract market, and Gemini Olympus, LLC, a derivatives clearing organization, or their participants for failure to comply with certain swap-related recordkeeping requirements; and for failure to report to swap data repositories data associated with contracts with a binary payout structure and contracts with a variable payout structure executed on or subject to the rules of Titan and cleared through Olympus. This no action position is subject to the terms of the no-action letter issued today.  This position is in response to a request from Titan and Olympus to supplement CFTC Letter No. 25-44 to cover transactions cleared through Olympus. RELATED LINKS CFTC Staff Letter No. 26-12

On April 27, the U.S. Department of the Treasury hosted Liberty University students and faculty for a Summit on Artificial Intelligence (AI), Energy, and Emerging Technologies. Held during Financial Literacy Month, the event brought together students, government leaders, and industry experts to explore how emerging technologies are reshaping the economy and public sector mission delivery. The summit featured four panels devoted to frontier AI, energy, workforce productivity, and financial literacy. Dialogue centered on advancing AI-driven economic growth, powering the infrastructure needed to scale emerging technologies, unlocking productivity across the American workforce, and democratizing capital and credit. Participants included leaders from the frontier AI, digital infrastructure, energy, and financial services sectors in addition to senior officials from Treasury, the White House, the Department of Commerce, and the Small Business Administration. Panelists underscored the urgency of accelerating U.S. leadership in AI and translating cross-sector innovation into economic growth and national competitiveness. “There has never been a better time to build and innovate in America,” said Secretary of the Treasury Scott Bessent. “Given the global importance of AI, student engagement is critical as we work to provide the next generation with the opportunity—and responsibility—to help shape how it is used.” “This summit fostered dialogue between students, policymakers, and industry leaders on the future of AI and emerging technologies.” Treasury’s Chief Artificial Intelligence Officer, Paras Malik said. “It advances a shared understanding of how these technologies can be applied to drive meaningful outcomes across the public and private sectors.” The event was live-streamed for Liberty University participants and invited Treasury staff, including members of Treasury’s AI Council. The summit reflects Treasury’s broader efforts to advance innovation, strengthen the U.S. economy, and engage the next generation of leaders shaping emerging technologies.

Good morning, it is a pleasure to join you today to discuss artificial intelligence (AI), and the critical role it plays in cybersecurity and risk management.1 This event is one of a series of roundtables convened by the Financial Stability Oversight Council (FSOC) to discuss AI, bringing together public and private participants to engage in discussion and share perspectives. Previous discussions about the use of AI tools have debated their risks and benefits.2 Today, we are facing the rapid evolution of AI tools much earlier than many expected, and the risks and benefits are now more tangible and clear. Anthropic's Mythos—an AI model that identifies cyber vulnerabilities—highlights the dynamic nature of this technology and the rapid pace that its capability can evolve. The improved ability to identify cyber vulnerabilities comes with the potential to address these weaknesses to enhance cybersecurity. And of course, we have already seen that AI has the potential to improve efficiency and effectiveness, particularly within the financial system. AI has become an integrated part of our daily experience. Financial institutions are developing their own applications and implementing vendor-assisted tools. Banks of all sizes benefit from its greater efficiency, speed, and content generation. Whether used in targeted modeling or enterprise-wide tools, AI will become a force multiplier for the financial system, and in the broader U.S. economy. Today, I will discuss the use of AI in the banking system, the Federal Reserve's supervisory approach for financial institutions, and how the benefits and risks of AI are contributing to the international financial stability conversation. AI in the Banking SystemFor nearly a decade, our supervisors have been engaging with banks to monitor their use of AI. Over that time, our approach has evolved to increase and enhance our understanding of its application and potential. An important part of our job as supervisors is to ensure that banks are aware of and attentive to the risks and challenges inherent in its use, so it can be deployed responsibly and effectively. And we need to ensure that there is a path for innovation, which includes the use of AI. To mitigate and manage risk, we must understand the specifics regarding the use case for its deployment. Will it be used for material tasks? Is it broadly accessible to employees or limited? And does its use directly affect consumers and customers, as with credit determinations? We regularly discuss AI with bankers at all levels of the Federal Reserve System. This includes direct conversations with individual banks, and broader conversations on principles for successful adoption. We recognize that smaller banks may not have access to the same resources as their larger peers but still need to innovate and provide the latest technology to their customers. Therefore, it is necessary to ensure that our supervisory guidance does not hinder access to and implementation of innovation. This includes emphasis on the flexibility to develop, implement, and manage AI to be consistent with their unique structure, business, and culture. Supervisory ApproachOver the past year, the Federal Reserve has been working to shift our supervisory focus to identifying and remediating material financial risk. To ensure safety and soundness, we are prioritizing those matters that lead to a bank's failure. I take a similar approach when considering the use of AI in the banking system. The rapid adoption and evolution of its capability reinforces the need for adaptable supervisory guidance and expectations. How should we consider third-party risk-management expectations for vendor-provided AI tools or partnerships? What aspects of model risk management should apply to AI? AI presents clear risks but also has the potential to offer tremendous benefits for cyber security. How should regulators think about this balance of risks? Our approach should support banks in implementing AI tools safely, effectively, and efficiently. Today, banks are relying on existing risk-management frameworks to guide their use of AI. While these supervisory tools are intended to support banks in applying sound governance and risk management, we should assess whether our supervisory guidance is fit for the future. Together with the OCC and FDIC, the Fed recently amended our model risk management guidance to clarify that it does not apply to generative or agentic AI.3 Over time, supervisors expanded the scope of the previous guidance beyond its original purpose to apply it in unintended ways. We recognize that rapidly evolving and novel technologies like AI may require a different approach. The revised guidance now applies narrowly to traditional models and basic AI applications. Going forward, we expect other risk-management and governance practices to support adoption of generative and agentic AI in ways that will encourage ongoing innovation. We are also working to update and simplify our third-party risk-management guidance to reflect actual and future risk. For too long, this guidance has been vague in its scope and application. Innovation is a necessary component of financial services, and supervisory guidance should not be a barrier for banks to engage with new and evolving tools and technologies. Supervisors must take a balanced approach to new and emerging risks and the expected benefits while preserving the safety of the financial system. This brings me to the impact of Anthropic's Mythos AI model. We know that this model accelerates the process of detecting cyber vulnerabilities. On one hand, this capability enables firms to address self-identified vulnerabilities thereby enhancing cyber security. But on the other hand, if used maliciously it could be deployed to identify and exploit weaknesses. As we learn more about this tool and others to be released in the coming weeks and months, we will continue to consider effective supervisory approaches for these and other emerging capabilities. As we position ourselves to supervise emerging technology: First, we must continue to stay abreast of new developments and to coordinate efforts across government. Earlier this month, Secretary Bessent and Chair Powell convened the largest banks to discuss Mythos and the cybersecurity implications of the Mythos model. This type of discussion is extremely beneficial to ensuring the protection of the banking system. Second, regular communication regarding the unique risks of novel and potentially broadly impactful innovation is necessary. Banks of all sizes have expressed concern about access to the Mythos model. Regulators will continue to focus on critical developments and communicating these risks to supervised institutions, as well as on refining our cybersecurity approach. Finally, we need to recognize that any regulatory or supervisory response must accommodate this evolution, regularly reviewing our approach and expectations, and communicating with industry. Feedback from industry is an important part of this approach, including from banks, financial firms, service providers, and other experts. These views will be extremely valuable as we refine our supervisory approach and response. As we work to support innovation, it is necessary to determine whether our framework is appropriate. Have we established reasonable and effective supervisory expectations? Are bankers comfortable discussing emerging risks and new technologies with supervisory teams? Have we successfully implemented a pro-innovation mindset that allows responsible innovation and AI adoption to occur within the banking system? International EngagementThe global financial system is connected and integrated, with some of the largest U.S. banks expanding operations abroad, and with foreign banks expanding operations in the United States. While these connections support U.S. economic growth and U.S. interests abroad, they also pose risks to the global financial system. One aspect of our regulatory work is ensuring consistency and a level playing field for our internationally active institutions. In this regard, in my role as the chair of the Financial Stability Board's Standing Committee on Supervisory and Regulatory Cooperation we are working together to address financial stability issues related to supervisory and regulatory policies. When I assumed this role and established priorities, a primary focus is to identify sound practices for AI adoption, use, and innovation, and to publish our findings and conclusions in a report published for stakeholder comment. The report will also present a balanced analysis emphasizing both the potential benefits and challenges with the use of AI, including key principles and examples of successful AI deployment. To complement this work, we should also consider the value of consistency in AI use expectations internationally including cybersecurity and critical infrastructure, especially where international supervisory expectations are incompatible with home country expectations. Our U.S. Treasury and SEC colleagues are working closely with us on this workstream. I expect the consultation draft of this report will be released in the third quarter, and I encourage you to review and provide feedback on the report once it is released. Closing ThoughtsI'd like to again thank Paras and Christina for the invitation to participate in today's round-table discussion. The implications of AI extend far beyond the banking and financial systems. I appreciate FSOC's hosting this series of discussions and I look forward to learning the perspectives of today's participants. 1. The views expressed here are my own and not necessarily those of my colleagues on the Federal Reserve Board or the Federal Open Market Committee. The remarks were delivered at an event April 27, 2026, and published May 1, 2026, following conclusion of the April 28-April 29 meeting of the FOMC.  2. See Michelle W. Bowman, "Artificial Intelligence in the Financial System (PDF)," remarks delivered at the 27th Annual Symposium on Building the Financial System of the 21st Century: An Agenda for Japan and the United States," Washington, D.C., November 22, 2024.  3. See SR letter 26-2, Attachment, "Supervisory Guidance on Model Risk Management (PDF)," April 17, 2026. 

GoQuant, a digital asset trading infrastructure provider, today announced the launch of GoCredit, a quote-based borrow/lend marketplace. GoCredit delivers full lifecycle loan management, real-time yield analytics, and credit market transparency across digital assets. GoCredit enables institutional borrowers and lenders to submit configurable RFQs specifying assets, amounts, tenors, minimum rates, accepted collateral types, and collateralization ratios. Borrowers and lenders are then matched and manage their positions through a single integrated platform. The system supports live credit market rates across all tenors, automated collateral monitoring with margin call triggers and liquidation proximity alerts, real-time counterparty exposure tracking, and integrated staking as a complementary yield source. "Credit in digital assets, especially at the institutional level, has operated without the infrastructure it deserves, fragmented across chat windows, with limited visibility into competitor pricing and risk," said Denis Dariotis, Founder & CEO of GoQuant. "Our goal with GoCredit is to change that, and we've built a platform where lenders and borrowers can discover rates, manage collateral, and monitor counterparty risk in real time, all in one place." "As a leader in asset management, Maple has seen firsthand how fragmented and opaque institutional credit has been," said Sid Powell, CEO, Maple. "Platforms like GoCredit are where lenders and borrowers should be meeting, and with the infrastructure it provides, we're finally at an inflection point where institutional participation in digital asset credit can scale the way it should." "Bringing clarity and proper risk management to the credit space is much needed. The GoCredit platform will help borrowers see the span of the market and make informed decisions," Alexander S Blume, Founder and CEO of Two Prime. GoCredit is available now to institutional clients. Additional launch partners include Capital Union Bank, 1Konto and Valos. To learn more or request a demo, visit goquant.io/products/gocredit.

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology, today announced it is a charter member of the x402 Foundation, the new neutral home for x402 protocol. Created by Coinbase, the x402 protocol is migrating to the Linux Foundation which will serve as its host. The x402 protocol, a universal standard for internet-native payments, enables faster checkout for API-driven commerce, lower friction for new sales channels, i.e, apps, and AI agents to process and easier global expansion through interoperable rails. Created for automated, machine-to-machine (M2M) transactions, the x402 protocol is scalable across internet payment networks and encompasses stablecoins, cards, and PSPs. The x402 Foundation will serve as the governing body for the standard and ensure a neutral, industry-led governance ecosystem. The group’s mission is to support research, development, and form industry consensus on standards that will shape its use. This includes actively developing an ecosystem that ensures the agentic web is open to all through events, education, and development grants. "Fiserv processes payments for millions of merchants – from the cornerstore to global enterprises. x402 gives us an open, interoperable foundation to ensure that, as commerce becomes more automated and agent-driven, every one of those merchants can participate,” said Sanjay Saraf, Chief Product Officer of Fiserv Merchant Solutions. “We're supporting the x402 Foundation because the payment layer of the agentic web should work for businesses of all sizes, without needing massive re-engineering of their commerce capabilities." As the protocol migrates toward an open-source model, it will continue to enable easier access to data, more widespread adoption of the protocol, transaction transparency, sustainability, and growth, resulting in benefits for the entire merchant payment ecosystem. To learn more about the x402 Foundation and membership opportunities, visit www.linuxfoundation.org/x402foundation/.

The Ontario Securities Commission (OSC) announces that Mr. Jimmy Delinis, formerly of Alliston, Ontario, has pleaded guilty to fraud, contrary to Ontario securities law. Mr. Delinis operated an investment fund known as ‘Azura Futures and Currencies.’ Between October 2021 and July 2024, he raised approximately $1.3 million from 15 investors located in Canada and the United States. Throughout this period, Mr. Delinis provided investors with investment statements that typically portrayed the funds as highly successful, often claiming returns that exceeded major stock market indexes by at least 10%. In reality, about 81% of the funds deposited into Azura’s trading account were lost through option trading. In some cases, the investor’s lost their funds before receiving their first monthly statement. In other cases, investor funds were used to repay other investors. As a result, most investors lost their entire investment. Mr. Delinis will be sentenced on October 15, 2026, at 9:30 a.m. at the Ontario Court of Justice, 49 Huron Street in Collingwood. The charges in this case arise from an investigation by the OSC’s Criminal Investigations & Prosecutions team, which is part of the Enforcement Division of the OSC. The team investigates securities-related fraud, market manipulation, and related misconduct, including the investigation of repeat offenders and those who breach Capital Markets Tribunal orders. Their primary objectives are to protect investors and enhance confidence in the Canadian capital markets through effective enforcement. Charges laid under the Securities Act are prosecuted by the OSC. Charges laid under the Criminal Code are prosecuted by the Ministry of the Attorney General. The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.ca.

Federal bank regulatory agencies today jointly issued updated host state loan-to-deposit ratios, as required by law. Each ratio compares the total loans in a state to total deposits in the state for all banks that are legally operating in that state. These ratios replace those issued in May 2025. By law, a bank is generally prohibited from establishing or acquiring branches outside of its home state primarily for the purpose of acquiring additional deposits. This prohibition seeks to ensure that interstate bank branches will not take deposits from a community without the bank also reasonably helping to meet the credit needs of that community. The updated ratios, including additional information on how they are used to evaluate compliance with the requirements, are available here. Section 109 Host State Loan-to-Deposit Ratios (PDF)

How have trading desks responding to increased market volatility this year? Harleen Bains, ISDA board member and head of global markets sales, Canada, at RBC Capital Markets, and Sonali Das Theisen, global head of FICC e‑trading and markets strategic investments at Bank of America, talk to Nick Sawyer, ISDA’s global head of communications and strategy, about the key risks and opportunities shaping markets.

David Bailey, executive director, prudential policy, at the Bank of England, speaks with ISDA CEO Scott O’Malia about the UK’s approach to Basel 3.1, the impact of the revised US Basel III endgame on cross‑border consistency and the role of the Basel Committee in addressing areas of divergence from the global standards.

Today, SIFMA is celebrating National Investing Day, an industry-wide effort dedicated to promoting awareness of the benefits of investing and broadening participation in the capital markets. The Day is an opportunity to highlight the importance of investing and the critical role the effective and resilient capital markets play in supporting long‑term financial security and economic growth, while also underscoring the importance of financial literacy, market access, and retirement savings. “Investing is one of the most powerful tools Americans have to build wealth and achieve the American Dream,” said Rep. Young Kim (CA-40), Co-Chair of the Financial Literacy and Wealth Creation Caucus. “National Investing Day is about opening more doors for families to learn about and participate in investing. By expanding access to financial education and lowering barriers to our capital markets, we can empower more families to save, invest, and get ahead.” “Financial literacy is the foundation of economic opportunity and key to broadening market participation,” said Rep. Joyce Beatty (D‑OH‑03), Co‑Chair of the Financial Literacy and Wealth Creation Caucus. “National Investing Day highlights the importance of financial literacy in helping families plan, save, and build for a more secure future.” To support National Investing Day, SIFMA has developed a customizable toolkit designed to help SIFMA member firms engage clients, employees, and communities. The toolkit includes open-source graphics, sample social media content, leadership messaging, and client-facing materials that can be adapted to firm-specific branding and outreach strategies. To celebrate National Investing Day, students participating in the SIFMA Foundation’s Stock Market Game™ will ring the closing bell at the New York Stock Exchange later today. For more information about National Investing Day and SIFMA’s efforts to support investors and advocate for resilient and effective capital markets, please visit www.sifma.org.

Exegy, a leading provider of market data, trading technology, and managed services for the capital markets, is proud to announce today that Exegy Nexus™, a purpose-built FPGA-powered market data platform, together with nxAccess, its FPGA-based trading engine, has been named ‘Most Innovative Solution for Front-Office/Trading’ at the 2026 A-Team Innovation Awards. Delivering ultra-low latency performance with unified access and operational efficiency, the combined solution brings market data processing and execution into a single FPGA-accelerated workflow. Nexus preprocesses and distributes market data based on application needs, while nxAccess enables firms to act on that data directly in hardware—triggering and modifying orders with deterministic performance. Together, they eliminate the need for fragmented feed handlers and execution systems, reducing infrastructure footprint while accelerating the path from data to decision to execution. “We are seeing market participants under increasing pressure to deliver high performance while reducing infrastructure complexity, power consumption and cost, “said Laurent de Barry, CPO of Exegy. He continues: “This recognition reflects the industry’s shift toward unified, hardware-accelerated architectures that eliminate disjointed systems and enable firms to operate efficiently at scale, without compromising latency.”  At the center of this innovation is Exegy Nexus™, a purpose-built platform designed to centralize and streamline front-office market data infrastructure. Developed with early adopters across market making, agency brokerage, and global banking, Nexus replaces fragmented, server-heavy feed handler environments with a single, fully managed FPGA appliance. By processing data before distribution, it reduces downstream data volumes, lowers compute requirements, and simplifies system architecture. In one US broker deployment, replacing in-process feed handling across 200 servers reduced infrastructure requirements to just 157 servers, lowered API load to 18%, and generated $3.19 million in annual savings.   Complementing Nexus, nxAccess extends this architecture into execution. Its hardware-accelerated algorithm environment allows firms to preload orders, respond to market events, and trigger or modify orders directly in FPGA, eliminating software latency and ensuring consistent, deterministic performance under all market conditions. The A-Team Innovation Awards are overseen by an esteemed Advisory Board and the A-Team editorial team, with finalists and winners selected based on direct input from financial institutions and industry practitioners.

Click here to download the presentation.

First Quarter Highlights* Record Diluted EPS for the Quarter of $3.66, Up 54 percent Record Adjusted Diluted EPS1 for the Quarter of $3.70, Up 48 percent Record Net Revenue for the Quarter of $728.9 million, Up 29 percent Increases 2026 Organic Total Net Revenue Growth Target2 to 'low double-digit to mid-teens' from 'mid single-digit' and Cboe Data Vantage3 Organic Net Revenue Growth Target2 to 'low double-digit' from 'mid to high single-digit' Decreases 2026 Adjusted Operating Expense Guidance2 to $838 to $853 million from $864 to $879 million Announces continued execution of strategic realignment to strengthen core businesses and enable greater investment for growth Cboe Global Markets, Inc. (Cboe: CBOE) today reported financial results for the first quarter of 2026 and announced additional actions related to its strategic realignment. "Cboe delivered an exceptional first quarter, building on our 2025 momentum by producing 29 percent net revenue growth, 54 percent diluted EPS growth, and 48 percent adjusted diluted EPS1 growth," said Jill Griebenow, Cboe Global Markets Executive Vice President, Chief Financial Officer. "Our Cash and Spot Markets net revenue rose 34 percent on strong market activity. Our Derivatives business was up 32 percent on another quarter of record volumes across our index options products, and our Data Vantage business grew 19 percent on a year-over-year basis. Moving forward, we anticipate 2026 total organic net revenue growth2 will be in the 'low double-digit to mid-teens' range, up from our prior guidance of 'mid single-digit', and we anticipate 2026 Data Vantage organic net revenue growth2 will be in the 'low double-digit' range, up from our prior guidance of 'mid to high single-digit'. In addition, given disciplined expense management and incorporating the impact from today's additional actions related to our strategic realignment, we are reducing our full year 2026 adjusted operating expense guidance2 range to $838 to $853 million from $864 to $879 million. We are pleased with the strong start to the year and remain focused on producing durable shareholder returns in the quarters ahead." "As I reflect on my first twelve months at Cboe, it is clear that the decisive steps we have taken are moving the company closer to realizing its full potential," said Craig Donohue, Chief Executive Officer of Cboe Global Markets. "Following a thorough strategic review and the adoption of a more rigorous financial and strategic framework in the second half of 2025, we announced a realignment to increase focus and investment in the core businesses that drive our earnings. We moved quickly to reorient the portfolio, winding down non–core initiatives, optimizing resource allocation across the organization, and reaching a definitive agreement last week to sell Cboe Canada and Cboe Australia. "Today, we announced the next phase of our plan by realigning our organization to build more agile teams positioned to operate effectively in a fast–changing environment. Our earlier actions to sell, wind down, and optimize certain businesses, combined with today's strategic realignment, are expected to reduce our workforce by approximately 20 percent. "As evidenced by our record results, we are executing these changes from a position of strength. These actions position us to invest more resources, including adding talent in emerging areas such as financial and economic event markets, tokenization initiatives, scaling and expanding our clearing services in the U.S. and Europe, and broadening our sales, marketing, and investor education efforts on a global basis. I have been in this industry for several decades, and I have never been as excited about the road ahead as I am now as we continue to build long–term value for shareholders through disciplined execution and focused investment efforts." * All comparisons are first quarter 2026 compared to the same period in 2025. (1) A full reconciliation of our non-GAAP results to our GAAP ("Generally Accepted Accounting Principles") results is included in the attached tables. See "Non-GAAP Information" in the accompanying financial tables. (2) Specific quantifications of the amounts that would be required to reconcile the company's organic net revenue growth guidance and adjusted operating expenses guidance are not available. The company believes that there is uncertainty and unpredictability with respect to certain of its GAAP measures, primarily related to acquisition-related revenues and costs that would be required to reconcile to GAAP revenues less cost of revenues, and GAAP operating expenses, which preclude the company from providing accurate guidance on certain forward-looking GAAP to non-GAAP reconciliations. The company believes that providing estimates of the amounts that would be required to reconcile the range of the company's organic net revenue growth guidance and adjusted operating expenses would imply a degree of precision that would be confusing or misleading to investors for the reasons identified above. (3) Cboe Data Vantage refers to the company's Cboe Data Vantage business (formerly known as Data and Access Solutions). Cboe Data Vantage is subsequently referred to as Data Vantage throughout this press release. Consolidated First Quarter Results Table 1 below presents summary selected unaudited condensed consolidated financial information for the company as reported and on an adjusted basis for the three months ended March 31, 2026 and 2025. Table 1 Consolidated First Quarter Results($ in millions except per shareamounts and percentages) 1Q26 1Q25 Change 1Q26 Adjusted¹ 1Q25 Adjusted¹ Change Total Revenues Less Cost ofRevenues $        728.9 $        565.2 29 % $        728.9 $        565.2 29 % Total Operating Expenses $        223.3 $        211.3 6 % $        200.9 $        192.4 4 % Operating Income $        505.6 $        353.9 43 % $        528.0 $        372.8 42 % Operating Margin % 69.4 % 62.6 %        6.8 pp 72.4 % 66.0 %        6.4 pp Net Income Allocated to CommonStockholders $        384.1 $        249.4 54 % $        388.2 $        263.1 48 % Net Income Allocated to CommonStockholders Margin % 52.7 % 44.1 %        8.6 pp 53.3 % 46.5 %        6.8 pp Diluted Earnings Per Share $          3.66 $          2.37 54 % $          3.70 $          2.50 48 % Operating EBITDA¹ $        535.1 $        384.2 39 % $        540.8 $        384.7 41 % Operating EBITDA Margin %¹                                      73.4 % 68.0 %        5.4 pp 74.2 % 68.1 %        6.1 pp EBITDA¹ $        539.0 $        383.7 40 % $        544.6 $        383.8 42 % EBITDA Margin %¹ 73.9 % 67.9 %        6.0 pp 74.7 % 67.9 %        6.8 pp Total revenues less cost of revenues (referred to as "net revenue"2) of $728.9 million increased 29 percent, compared to $565.2 million in the prior-year period, a result of increases across all net revenue2 captions. Total operating expenses were $223.3 million versus $211.3 million in the first quarter of 2025, an increase of $12.0 million. Adjusted operating expenses1 of $200.9 million were up $8.5 million compared to $192.4 million in the first quarter of 2025. These increases were primarily due to an increase in compensation and benefits, driven by an increase in accrued bonuses as a result of strong company performance, increase in payroll benefits, and an increase in salaries primarily due to merit increases. The effective tax rate for the first quarter of 2026 was 25.2 percent as compared with 28.4 percent in the first quarter of 2025. The lower effective tax rate in 2026 is primarily due to the resolution of uncertain tax positions with state and local taxing authorities. The effective tax rate on adjusted earnings1 was 27.5 percent, a decrease of 0.8 percentage points when compared with 28.3 percent in last year's first quarter. The change was primarily due to reduced interest on uncertain tax positions. Diluted EPS for the first quarter of 2026 increased 54 percent to $3.66 compared to the first quarter of 2025. Adjusted diluted EPS1 of $3.70 increased 48 percent compared to 2025 first quarter results. Business Segment Information: Table 2 Total Revenues Less Cost of Revenues by Business Segment (in millions)                         1Q26 1Q25 Change Options $           467.6 $           352.4 33 % North American Equities 111.2 94.6 18 % Europe and Asia Pacific 84.9 64.1 32 % Futures 35.8 32.8 9 % Global FX 29.4 21.3 38 % Total $           728.9 $           565.2 29 % (1) A full reconciliation of our non-GAAP results to our GAAP results is included in the attached tables. See "Non-GAAP Information" in the accompanying financial tables. (2) See the attached tables on page 10 for "Net Revenue by Revenue Caption." Discussion of Results by Business Segment: Options: Record Options net revenue of $467.6 million was up $115.2 million, or 33 percent, from the first quarter of 2025. Net transaction and clearing fees1 increased primarily as a result of a 10 percent increase in total options average daily volume ("ADV"), coupled with a 21 percent increase in multi-listed options revenue per contract ("RPC") versus the first quarter of 2025. Market data fees were 31 percent higher and access and capacity fees were 21 percent higher as compared to the first quarter of 2025. Net transaction and clearing fees1 increased $106.6 million, or 34 percent, reflecting a 29 percent increase in index options ADV and a 4 percent increase in multi-listed options ADV. Total options RPC increased 19 percent compared to the first quarter of 2025. The increase in total options RPC was primarily due to a 21 percent increase in multi-listed options RPC and a mix shift, with index options representing a higher percentage of total options volume. Cboe's Options exchanges had total market share of 29.1 percent for the first quarter of 2026, down compared to 31.1 percent in the first quarter of 2025. North American (N.A.) Equities: Record N.A. Equities net revenue of $111.2 million increased $16.6 million, or 18 percent, from the first quarter of 2025, reflecting higher net transaction and clearing fees1, access and capacity fees, and market data fees. Net transaction and clearing fees1 increased $10.7 million, or 40 percent, compared to the first quarter of 2025. The increase was driven by stronger industry volumes and improved net capture rates for on-exchange U.S. Equities exchanges versus the first quarter of 2025. Cboe's U.S. Equities exchanges had market share of 9.8 percent for the first quarter of 2026, down compared to 10.5 percent in the first quarter of 2025. Cboe's U.S. Equities off-exchange market share was 17.0 percent, down from 17.1 percent in the first quarter of 2025. Europe and Asia Pacific (APAC): Record Europe and APAC net revenue of $84.9 million increased $20.8 million, or 32 percent, from the first quarter of 2025, reflecting growth in net transaction and clearing fees1 and non-transaction revenues. On a constant currency basis2, net revenue was $76.7 million, up 20 percent on a year-over-year basis. European Equities average daily notional value ("ADNV") traded on Cboe European Equities was €17.3 billion, up 25 percent compared to the first quarter of 2025 given a 21 percent increase in industry market volumes. Cboe Clear Europe net settlement volume reached 3,931.2 thousand shares, up 23 percent from the first quarter of 2025. For the first quarter of 2026, Cboe European Equities had 25.5 percent market share, up from 24.8 percent in the first quarter of 2025. Futures: Futures net revenue of $35.8 million increased $3.0 million, or 9 percent, from the first quarter of 2025 driven by an 11 percent increase in net transaction and clearing fees1. Net transaction and clearing fees1 increased $2.7 million, reflecting a 14 percent increase in ADV during the quarter. Global FX: Record Global FX net revenue of $29.4 million increased $8.1 million, or 38 percent, from the first quarter of 2025. The increase was due to higher net transaction and clearing fees1. ADNV traded on the Cboe FX platform was $70.4 billion for the quarter, up 36 percent compared to last year's first quarter, and net capture rate per one million dollars traded was $2.87 for the first quarter of 2026, up 4 percent compared to $2.77 in the first quarter of 2025. (1) See the attached tables on page 10 for "Net Transaction and Clearing Fees by Business Segment." (2) A full reconciliation of our non-GAAP results to our GAAP results is included in the attached tables. See "Non-GAAP Information" in the accompanying financial tables. 2026 Fiscal Year Financial Guidance1 Cboe provided guidance for the 2026 fiscal year as noted below. Organic total net revenue growth2 is expected to be in the 'low double-digit to mid-teens' range, up from prior guidance of 'mid single-digit' in 2026. Organic net revenue growth2 from Data Vantage is expected to be in the 'low double-digit' range, up from prior guidance of 'mid to high single-digit' in 2026. Adjusted operating expenses2 in 2026 are expected to be in the range of $838 to $853 million, down from $864 to $879 million. Our 2026 guidance incorporates roughly $20 to $25 million of expected savings in 2026 as a result of the additional actions related to the strategic realignment. The guidance excludes the expected amortization of acquired intangible assets of $63 million; the company adjusts for this amount in its non-GAAP reconciliation. Reaffirms depreciation and amortization expense for 2026 is expected to be in the range of $56 to $60 million, excluding the expected amortization of acquired intangible assets. Reaffirms the effective tax rate on adjusted earnings2 for the full year 2026 is expected to be in the range of 27.5 to 29.5 percent. Significant changes in trading volume, expenses, tax laws or rates, and other items could materially impact this expectation. Reaffirms capital expenditures for 2026 are expected to be in the range of $73 to $83 million. (1) 2026 guidance includes the anticipated impacts from discontinuing U.S. and European Corporate Listings, CEDX, and Cboe's Japanese equities business, as well as the planned cost reductions in U.S. and European ETP Listings businesses and several of Cboe's smaller Risk and Market Analytics businesses, as announced in 2025 and early 2026. 2026 guidance also includes the anticipated business-as-usual financial contribution from Cboe Canada and Cboe Australia, which Cboe announced divestiture plans for in October 2025. 2026 guidance will be updated as further actions are announced. (2) Specific quantifications of the amounts that would be required to reconcile the company's organic and inorganic growth guidance, adjusted operating expenses guidance, and the effective tax rate on adjusted earnings guidance are not available. Acquisitions are considered organic after 12 months of closing. The company believes that there is uncertainty and unpredictability with respect to certain of its GAAP measures, primarily related to acquisition-related revenues and costs that would be required to reconcile to GAAP revenues less cost of revenues, and GAAP operating expenses, which preclude the company from providing accurate guidance on certain forward-looking GAAP to non-GAAP reconciliations. The company believes that providing estimates of the amounts that would be required to reconcile the range of the company's organic growth, adjusted operating expenses, and the effective tax rate on adjusted earnings would imply a degree of precision that would be confusing or misleading to investors for the reasons identified above. Capital Management At March 31, 2026, the company had cash and cash equivalents of $2,134.4 million and adjusted cash3 of $2,134.9 million. Total debt as of March 31, 2026 was $1,443.4 million. The company paid cash dividends of $75.8 million, or $0.72 per share, during the first quarter of 2026 and utilized $45.1 million to repurchase approximately 161 thousand shares of its common stock under its share repurchase program at an average price of $280.20 per share. As of March 31, 2026, the company had approximately $569.4 million of availability remaining under its existing share repurchase authorizations. Earnings Conference Call Executives of Cboe Global Markets will host a conference call to review its first quarter financial results today, May 1, 2026, at 8:30 a.m. ET/7:30 a.m. CT. The conference call and any accompanying slides will be publicly available via live webcast from the Investor Relations section of the company's website at www.cboe.com, under Events & Presentations. Participants may also listen via telephone by dialing (800) 715-9871 (toll-free) or (646) 307-1963 (toll) and using the Conference ID 8939587. Telephone participants should place calls 10 minutes prior to the start of the call. The webcast will be archived on the company's website for replay. (3)  A full reconciliation of our non-GAAP results to our GAAP results is included in the attached tables. See "Non-GAAP Information" in the accompanying financial tables. About Cboe Global Markets Cboe Global Markets, Inc. is a leading global markets operator with a long history of innovation in equities derivatives. Since launching the world's first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world's leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more about Cboe, visit www.cboe.com.  Cautionary Statements Regarding Forward-Looking Information This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as "may," "might," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," or "continue," and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions, or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties, and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price and new products and services competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees, or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our business and operational dependence on and exposure to risk from third parties; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our global operations, growth, and strategic acquisitions, wind-downs, divestitures or alliances effectively; increases in the cost of the products and services we use; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, liquidity, market, investment, counterparty, and default risks, associated with operating our clearinghouses; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing our business interests and our regulatory responsibilities; the loss of key customers or a significant reduction in trading or clearing volumes by key customers; separate from and not integrated with our registered national securities exchanges; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments, or intangible assets; the accuracy of our estimates and expectations; and litigation risks and other liabilities. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2025 and other filings made from time to time with the SEC. We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The condensed consolidated statements of income and balance sheets are unaudited and subject to revision. Cboe Global Markets, Inc. Key Performance Statistics by Business Segment 1Q 2026 4Q 2025 3Q 2025 2Q 2025 1Q 2025 Options Total industry ADV (in thousands) 68,894 66,608 60,798 57,203 58,444 Total Company Options ADV (in thousands): 20,076 19,419 18,775 17,301 18,183 Multi-listed options 13,940 13,965 13,911 12,615 13,412 Index options 6,136 5,454 4,864 4,686 4,771 Total Options Market Share: 29.1 % 29.2 % 30.9 % 30.2 % 31.1 % Multi-listed options 22.3 % 22.9 % 24.9 % 24.0 % 25.0 % Total Options RPC: $        0.343 $        0.317 $        0.281 $        0.300 $        0.287 Multi-listed options $        0.080 $        0.075 $        0.055 $        0.068 $        0.066 Index options $        0.940 $        0.938 $        0.926 $        0.923 $        0.908 North American Equities U.S. Equities - Exchange: Total industry ADV (shares in billions) 20.0 18.6 17.6 18.4 15.7 Market share % 9.8 % 9.4 % 9.8 % 10.5 % 10.5 % Net capture (per 100 touched shares) $        0.017 $        0.018 $        0.015 $        0.012 $        0.014 U.S. Equities - Off-Exchange: ADV (touched shares, in millions) 249.2 197.0 202.3 125.5 90.6 Off-Exchange ATS block market share % (reported on a one-month lag) 17.0 % 17.0 % 17.9 % 14.9 % 17.1 % Net capture (per 100 touched shares) $        0.063 $        0.064 $        0.064 $        0.082 $        0.117 Canadian Equities: ADV (matched shares, in millions) 215.8 195.9 163.8 150.6 159.6 Total market share % 12.5 % 12.7 % 12.5 % 12.7 % 13.8 % Net capture (per 10,000 shares, in Canadian dollars) $        4.329 $        3.962 $        4.142 $        4.222 $        4.250 Europe and Asia Pacific European Equities: Total industry ADNV (Euros - in billions) €          67.8 €          49.1 €          46.1 €          54.5 €          55.8 Market share % 25.5 % 24.8 % 25.4 % 25.1 % 24.8 % Net capture (per matched notional value (bps), in Euros) €        0.272 €        0.278 €        0.288 €        0.261 €        0.252 Cboe Clear Europe: Trades cleared (in thousands) 434,717.3 322,339.2 329,293.1 400,935.8 412,072.2 Fee per trade cleared (in Euros) €        0.009 €        0.010 €        0.010 €        0.008 €        0.008 Net settlement volume (shares in thousands) 3,931.2 3,603.7 3,541.9 3,289.3 3,200.7 Net fee per settlement (in Euros) €        1.044 €        1.113 €        1.015 €        0.956 €        0.951 Australian Equities: ADNV (Australian Dollars - in billions) $            1.2 $            1.0 $            1.0 $            1.0 $            0.8 Market share % - Continuous 20.6 % 20.6 % 20.6 % 20.0 % 19.4 % Net capture (per matched notional value (bps), in Australian dollars) $        0.208 $        0.207 $        0.206 $        0.160 $        0.156 Futures ADV (in thousands) 283.3 239.2 200.7 220.5 249.4 RPC $        1.649 $        1.717 $        1.745 $        1.691 $        1.740 Global FX ADNV ($ - in billions) $          70.4 $          53.3 $          49.9 $          55.9 $          51.9 Net capture (per one million dollars traded) $          2.87 $          2.95 $          2.89 $          2.81 $          2.77 Note, in the second quarter of 2025, Digital futures products were transitioned to Cboe Futures Exchange. Futures metrics prior to the second quarter of 2025exclude Digital futures products. ADV = average daily volume; ADNV = average daily notional value. RPC, average revenue per contract, for options and futures, represents total net transaction fees recognized for the period divided by total contracts traded during the period. Touched volume represents the total number of shares of equity securities and ETFs internally matched on our exchanges or routed to and executed on an external market center. Matched volume represents the total number of shares of equity securities and ETFs executed on our exchanges. U.S. Equities - Exchange, "net capture per 100 touched shares" refers to transaction fees less liquidity payments and routing and clearing costs divided by the product of one-hundredth ADV of touched shares on BZX, BYX, EDGX and EDGA and the number of trading days. U.S. Equities - Off-Exchange data reflects BIDS Trading. For U.S. Equities - Off-Exchange, "net capture per 100 touched shares" refers to transaction fees less order and execution management system (OMS/EMS) fees and clearing costs divided by the product of one-hundredth ADV of touched shares on BIDS Trading and the number of trading days for the period. Canadian Equities, "net capture per 10,000 shares" refers to transaction fees divided by the product of one-ten thousandth ADV of shares for Cboe Canada and the number of trading days. Total market share represents Cboe Canada volume divided by the total volume of the Canadian Equities market. European Equities, "net capture per matched notional value" refers to transaction fees less liquidity payments in Euros divided by the product of ADNV in Euros of shares matched on Cboe Europe Equities and the number of trading days. "Trades cleared" refers to the total number of non-interoperable trades cleared, "Fee per trade cleared" refers to clearing fees divided by number of non-interoperable trades cleared, "Net settlement volume" refers to the total number of settlements executed after netting, and "Net fee per settlement" refers to settlement fees less direct costs incurred to settle divided by the number of settlements executed after netting. Australian Equities data reflects data from Cboe Australia. Australian Equities, "net capture per matched notional value" refers to transaction fees less liquidity payments in Australian dollars divided by the product of ADNV in Australian dollars of shares matched on Cboe Australia and the number of Australian Equities trading days. Global FX, "net capture per one million dollars traded" refers to transaction fees less liquidity payments, if any, divided by the Spot and SEF products of one-thousandth of ADNV traded on the Cboe FX Markets and the number of trading days, divided by two, which represents the buyer and seller that are both charged on the transaction. Average transaction fees per contract can be affected by various factors, including exchange fee rates, volume-based discounts, and transaction mix by contract type and product type. Cboe Global Markets, Inc. and Subsidiaries Condensed Consolidated Statements of Income (Unaudited) Three Months Ended March 31, 2026 and 2025 Three Months Ended March 31, (in millions, except per share amounts) 2026 2025 Revenues: Cash and spot markets $           482.2 $           500.9 Data Vantage 181.3 152.5 Derivatives markets 609.3 541.6 Total Revenues 1,272.8 1,195.0 Cost of Revenues: Liquidity payments 446.1 394.8 Routing and clearing 20.0 19.6 Regulatory fees cost of revenues — 153.1 Royalty fees and other cost of revenues 77.8 62.3 Total Cost of Revenues 543.9 629.8 Revenues Less Cost of Revenues 728.9 565.2 Operating Expenses: Compensation and benefits 127.9 116.2 Depreciation and amortization 29.5 30.3 Technology support services 27.6 25.6 Professional fees and outside services 18.3 20.8 Travel and promotional expenses 8.0 6.4 Facilities costs 6.2 6.2 Acquisition-related costs — 0.2 Other expenses 5.8 5.6 Total Operating Expenses 223.3 211.3 Operating Income 505.6 353.9 Non-operating Income (Expenses): Interest expense (13.3) (12.8) Interest income 17.7 8.4 Loss on investments, net (0.7) (3.3) Other income, net 6.2 4.0 Total Non-operating Income (Expenses) 9.9 (3.7) Income Before Income Tax Provision 515.5 350.2 Income tax provision 129.8 99.6 Net Income 385.7 250.6 Net income allocated to participating securities (1.6) (1.2) Net Income Allocated to Common Stockholders $           384.1 $           249.4 Net Income Per Share Allocated to Common Stockholders:                                                                                          Basic earnings per share $             3.67 $             2.38 Diluted earnings per share 3.66 2.37 Weighted average shares used in computing income per share: Basic 104.7 104.7 Diluted 105.0 105.1   Cboe Global Markets, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) March 31, 2026 and December 31, 2025 (in millions) March 31,2026 December 31,2025 Assets Current assets: Cash and cash equivalents $          2,134.4 $          2,216.5 Financial investments 35.9 36.1 Accounts receivable, net 514.6 391.4 Margin deposits, default fund, and interoperability fund                                                                                                         3,443.9 1,618.2 Income taxes receivable — 67.9 Other current assets 95.3 91.3 Total current assets 6,224.1 4,421.4 Investments 31.4 32.4 Property and equipment, net 137.4 133.1 Operating lease right of use assets 105.1 111.0 Goodwill 3,142.4 3,150.5 Intangible assets, net 1,274.6 1,297.2 Other assets, net 155.6 159.7 Total assets $        11,070.6 $          9,305.3 Liabilities and Stockholders' Equity Current liabilities: Accounts payable and accrued liabilities $             332.8 $             686.9 Current portion of long-term debt 649.5 — Section 31 fees payable 0.2 0.2 Deferred revenue 16.8 6.9 Margin deposits, default fund, and interoperability fund 3,443.9 1,618.2 Income taxes payable 50.4 50.1 Total current liabilities 4,493.6 2,362.3 Long-term debt 793.9 1,442.9 Non-current unrecognized tax benefits 22.0 15.8 Deferred income taxes 233.0 185.3 Non-current operating lease liabilities 114.6 120.9 Other non-current liabilities 40.0 39.8 Total liabilities 5,697.1 4,167.0 Stockholders' Equity: Preferred stock — — Common stock 1.0 1.0 Treasury stock, at cost (75.1) (1.5) Additional paid-in capital 1,583.0 1,565.1 Retained earnings 3,853.5 3,543.6 Accumulated other comprehensive income, net 11.1 30.1 Total stockholders' equity 5,373.5 5,138.3 Total liabilities and stockholders' equity $        11,070.6 $          9,305.3   Table 3 Net Transaction andClearing Fees byBusiness SegmentThree Months EndedMarch 31, 2026 and 2025(in millions) ConsolidatedMarch 31, OptionsMarch 31, N.A. EquitiesMarch 31, Europe and APACMarch 31, FuturesMarch 31, Global FXMarch 31, 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Transaction and clearing fees $  1,026.4 $  832.6 $  559.2 $  464.5 $  342.0 $  271.7 $   68.6 $   50.8 $   30.3 $   27.1 $   26.3 $   18.5 Liquidity payments (446.1) (394.8) (135.2) (146.8) (295.9) (235.3) (13.1) (11.3) (1.9) (1.4) — — Routing and clearing (20.0) (19.6) (4.0) (4.3) (8.6) (9.6) (6.7) (5.3) — — (0.7) (0.4) Net transaction andclearing fees $     560.3 $  418.2 $  420.0 $  313.4 $   37.5 $   26.8 $   48.8 $   34.2 $   28.4 $   25.7 $   25.6 $   18.1   Table 4 Net Revenue by Revenue Caption Three Months Ended March 31, 2026 and 2025              (in millions) Cash and Spot MarketsMarch 31, Data VantageMarch 31, Derivatives MarketsMarch 31, TotalMarch 31, 2026 2025 2026 2025 2026 2025 2026 2025 Transaction and clearing fees $    436.9 $    341.0 $         — $         — $   589.5 $   491.6 $  1,026.4 $   832.6 Access and capacity fees — — 113.2 97.8 — — 113.2 97.8 Market data fees 15.7 15.7 67.1 54.0 9.0 8.1 91.8 77.8 Regulatory fees 0.3 120.7 — — 10.1 41.1 10.4 161.8 Other revenue 29.3 23.5 1.0 0.7 0.7 0.8 31.0 25.0 Total revenues $    482.2 $    500.9 $   181.3 $     152.5 $   609.3 $   541.6 $  1,272.8 $  1,195.0 Liquidity payments $    308.6 $    245.7 $         — $         — $   137.5 $   149.1 $   446.1 $   394.8 Routing and clearing 15.9 15.3 — — 4.1 4.3 20.0 19.6 Regulatory fees cost of revenues — 120.6 — — — 32.5 — 153.1 Royalty fees and other cost of revenues 15.0 12.6 3.5 3.1 59.3 46.6 77.8 62.3 Total cost of revenues $    339.5 $    394.2 $        3.5 $        3.1 $   200.9 $   232.5 $   543.9 $   629.8 Net revenue $    142.7 $    106.7 $   177.8 $     149.4 $   408.4 $   309.1 $   728.9 $   565.2 Non-GAAP Information In addition to disclosing results determined in accordance with GAAP, Cboe Global Markets has disclosed certain non-GAAP measures of operating performance. These measures are not in accordance with, or a substitute for, GAAP, and may be different from or inconsistent with non-GAAP financial measures used by other companies. The non-GAAP measures provided in this press release include adjusted operating expenses, adjusted operating income, adjusted operating margin, adjusted net income allocated to common stockholders, adjusted diluted earnings per share, effective tax rate on adjusted earnings, adjusted income before income taxes, operating EBITDA, operating EBITDA margin, adjusted operating EBITDA, adjusted operating EBITDA margin, EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, adjusted cash, and net revenue in constant currency. Management believes that the non-GAAP financial measures presented in this press release provide additional and comparative information to assess trends in our core operations and a means to evaluate period-to-period comparisons. Non-GAAP financial measures disclosed by management are provided as additional information to investors in order to provide them with an alternative method for assessing our financial condition and operating results. The tables below show the reconciliation of each financial measure from GAAP to non-GAAP. The non-GAAP financial measures exclude the impact of those items detailed below and are referred to as adjusted financial measures.  Reconciliation of GAAP and Non-GAAP Information Table 5 Three Months Ended March 31, (in millions, except percentages and per share amounts) 2026 2025 Reconciliation of Net Income Allocated to Common Stockholders to Non-GAAP (As shown on Table 1) Net income allocated to common stockholders $          384.1 $          249.4 Non-GAAP adjustments Acquisition-related costs (1) — 0.2 Amortization of acquired intangible assets (2) 16.7 18.4 Business realignment costs (3) 5.1 0.3 Executive compensation adjustment (4) 0.6 — Non-operating investment adjustments, net (5) (0.1) (0.4) Total Non-GAAP adjustments 22.3 18.5 Income tax expense related to the items above (6.1) (4.7) Deferred tax re-measurements (6) (0.6) — Tax reserves (6) (11.4) — Net income allocated to participating securities - effect on reconciling items                                                                  (0.1) (0.1) Adjusted earnings $          388.2 $          263.1 Reconciliation of Diluted EPS to Non-GAAP Diluted earnings per common share $            3.66 $            2.37 Per share impact of non-GAAP adjustments noted above 0.04 0.13 Adjusted diluted earnings per common share $            3.70 $            2.50 Reconciliation of Operating Margin to Non-GAAP Revenues less cost of revenues $          728.9 $          565.2 Operating expenses (7) $          223.3 $          211.3 Non-GAAP adjustments noted above 22.4 18.9 Adjusted operating expenses $          200.9 $          192.4 Operating income $          505.6 $          353.9 Non-GAAP adjustments noted above 22.4 18.9 Adjusted operating income $          528.0 $          372.8 Adjusted operating margin (8) 72.4 % 66.0 % Reconciliation of Income Tax Rate to Non-GAAP Income before income taxes $          515.5 $          350.2 Non-GAAP adjustments noted above 22.3 18.5 Adjusted income before income taxes $          537.8 $          368.7 Income tax expense $          129.8 $            99.6 Non-GAAP adjustments noted above 18.1 4.7 Adjusted income tax expense $          147.9 $          104.3 Adjusted income tax rate 27.5 % 28.3 % (1) This amount includes acquisition-related costs primarily from the Company's Cboe Digital, Cboe Canada, and Cboe Asia Pacific acquisitions, whichare included in acquisition-related costs on the condensed consolidated statements of income. (2) This amount represents the amortization of acquired intangible assets related to the Company's acquisitions, which is included in depreciation andamortization on the condensed consolidated statements of income. (3) This amount represents certain business realignment costs related to announced business realignment initiatives. For the three months ended March31, 2026, the costs included $1.6 million in compensation and benefits, $1.8 million in technology support services, $1.5 million in professional feesand outside services, and $0.2 million in other expenses, respectively, on the condensed consolidated statements of income. For the three monthsended March 31, 2025, the costs included $0.3 million in compensation and benefits on the condensed consolidated statements of income. (4) This amount represents the CEO sign-on long-term equity awards granted in 2025 with a grant date value of $6.0 million (comprised of a mixture oftime and performance-based awards) that are subject to a 3-year cliff vesting requirement associated with the hiring of Craig Donohue as ChiefExecutive Officer, which is included in compensation and benefits on the condensed consolidated statements of income. This amount does not includethe CEO's annual long-term equity incentive awards that were prorated for 2025. (5) This amount represents net gains and losses associated with the PYTH token intangible assets and from the Company's minority investments in AbaxxSingapore Pte and American Financial Exchange, LLC, which are included in loss on investments, net on the condensed consolidated statements ofincome. (6) These amounts represent the tax impact related to resolution of uncertain tax positions for the three months ended March 31, 2026. (7) The company sponsors deferred compensation plans held in a trust. The expenses or income related to the deferred compensation plans are includedin compensation and benefits ($0.4 million and $12.4 million in expense for the three months ended March 31, 2026 and 2025, respectively) and aredirectly offset by deferred compensation income and expenses included in loss on investments, net, and dividends included in other income, net ($0.4million and $12.4 million in income, expense, and dividends in the three months ended March 31, 2026 and 2025, respectively) on the condensedconsolidated statements of income. The deferred compensation plans' expenses are not excluded from adjusted operating expenses and do not havean impact on income before income taxes. (8) Adjusted operating margin represents adjusted operating income divided by revenues less cost of revenues. EBITDA Reconciliations EBITDA (earnings before interest, income taxes, depreciation and amortization) and Adjusted EBITDA are widely used non-GAAP financial measures of operating performance. These metrics are presented as supplemental information that the company believes are useful to investors to evaluate the company's results because they exclude certain items that are not directly related to the company's core operating performance. Operating EBITDA is calculated by adding back to operating income depreciation and amortization. Adjusted Operating EBITDA is calculated by adding back to Operating EBITDA relevant adjustments. Operating EBITDA margin represents Operating EBITDA divided by revenues less cost of revenues. Adjusted Operating EBITDA margin represents Adjusted Operating EBITDA divided by revenues less cost of revenues. EBITDA is calculated by adding back to net income interest (income) expense, net, income tax expense, and depreciation and amortization. EBITDA margin represents EBITDA divided by revenues less cost of revenues. Adjusted EBITDA is calculated by adding back to EBITDA relevant adjustments. Adjusted EBITDA margin represents Adjusted EBITDA divided by revenues less cost of revenues. Relevant adjustments are detailed in the reconciliations that follow. Operating EBITDA, Adjusted Operating EBITDA, EBITDA, and Adjusted EBITDA should not be considered as substitutes either for net income, as an indicator of the company's operating performance, or for cash flow as a measure of the company's liquidity. In addition, because Operating EBITDA, Operating EBITDA margin, Adjusted Operating EBITDA, Adjusted Operating EBITDA margin, EBITDA, EBITDA margin, Adjusted EBITDA, and Adjusted EBITDA margin may not be calculated identically by all companies, the presentation here may not be comparable to other similarly titled measures of other companies. Table 6 Three Months Ended (in millions, except percentages) March 31, Reconciliation of Operating Income to Operating EBITDA and Adjusted Operating EBITDA(Per Table 1) 2026 2025 Operating income $           505.6 $           353.9 Depreciation and amortization 29.5 30.3 Operating EBITDA $           535.1 $           384.2 Operating EBITDA Margin 73.4 % 68.0 % Non-GAAP adjustments not included in above line items Acquisition-related costs $                — $               0.2 Business realignment costs 5.1 0.3 Executive compensation adjustment 0.6 — Adjusted Operating EBITDA $           540.8 $           384.7 Adjusted Operating EBITDA Margin 74.2 % 68.1 % Reconciliation of Net Income Allocated to Common Stockholders to EBITDA andAdjusted EBITDA (Per Table 1) 2026 2025 Net income allocated to common stockholders $           384.1 $           249.4 Interest (income) expense, net (4.4) 4.4 Income tax provision 129.8 99.6 Depreciation and amortization 29.5 30.3 EBITDA $           539.0 $           383.7 EBITDA Margin 73.9 % 67.9 % Non-GAAP adjustments not included in above line items Acquisition-related costs — 0.2 Business realignment costs 5.1 0.3 Executive compensation adjustment 0.6 — Non-operating investment adjustments, net (0.1) (0.4) Adjusted EBITDA $           544.6 $           383.8 Adjusted EBITDA Margin 74.7 % 67.9 % Table 7 (in millions) March 31, December 31, Reconciliation of Cash and Cash Equivalents to Adjusted Cash 2026 2025 Cash and cash equivalents $        2,134.4 $        2,216.5 Financial investments 35.9 36.1 Less deferred compensation plan assets (35.4) (35.8) Adjusted Cash $        2,134.9 $        2,216.8 Table 8 (in millions) Three Months EndedMarch 31, Reconciliation of GAAP Net Revenue to Net Revenue in Constant Currency                                                     2026 2025 Europe and Asia Pacific net revenue $             84.9 $             64.1 Constant currency adjustment (8.2) — Europe and Asia Pacific net revenue in constant currency1 $             76.7 $             64.1 (1) Net revenue in constant currency is calculated by converting the current period GAAP net revenue in local currency using the foreigncurrency exchange rates that were in effect during the previous comparable period.   View original content to download multimedia:https://www.prnewswire.com/news-releases/cboe-global-markets-reports-results-for-first-quarter-2026-and-continued-execution-of-strategic-realignment-302759891.html SOURCE Cboe Global Markets, Inc.