The Chicago Board Options Exchange (CBOE) announced that its unaudited pre-tax profit for the three-month period ending June 30, 2007 was $32.2 million, compared to pre-tax profit of $23.7 million during the same period a year ago.
Net income for the second quarter was $18.7 million, compared to $14.2 million during the second quarter in 2006. CBOE’s average daily volume during April, May and June was 3.5 million contracts, compared to 2.9 million contracts during the same three-month period of 2006.
Year-to-date, CBOE is reporting a pre-tax profit of $62.5 million on average daily volume of 3.4 million contracts per day. During the same period last year, CBOE reported a pre-tax profit of $32.0 million on average daily volume of 2.7 million contracts per day.
“We are very pleased with our financial results for the first half of 2007, which show a 95 percent increase in pre-tax profits compared to the same period last year, and a 26 percent increase in volume,” says CBOE Chairman and CEO William J. Brodsky. “We are also especially gratified with the significant volume increase in CBOE Volatility Index options, which added more than 7.7 million contracts to CBOE’s total volume during the first six months of the year.”
During the second quarter of 2007, CBOE recorded revenues of $84.6 million, compared to $70.5 million for the same quarter last year. The $14.1 million increase resulted from higher trading volumes, which increased transaction fees by $11.3 million.