Cboe Board Approves Share Buyback of Up to $250 Million

Cboe Global Markets, Inc. announced today in Chicago that its Board of Directors have authorised the company to commence a new share repurchase program, in which it will repurchase up to an additional $250 million of its outstanding common stock.

The new buyback program is effective immediately and, according to the statement released by the Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term holding company, does not have an expiration date. Under the program, Cboe is permitted to purchase its shares through a variety of methods, such as in the open market or via privately negotiated transactions.

As of the 10th of June 2020, with the additional repurchasing of its own common stock, the US options giant has $347.6 million of availability remaining under its share repurchase program. Year to date up until the 10th of June, Cboe has repurchased 1.9 million of its own shares, for a total price of around $201.6 million.

Cboe to invest in growth of business

Commenting on the new share buyback program, Ed Tilly, Chairman, President and Chief Executive Officer, Cboe Global Markets said in the statement: "The capital allocation actions we have taken year-to-date, including our strategic acquisitions, share repurchase activity and increased share repurchase authorization, reinforce our capital allocation priorities of investing in the growth of our business, maintaining a strong and flexible balance sheet, and returning excess cash to shareholders through dividends and share repurchases.

“These actions also demonstrate our Board of Directors’ support and confidence in the company's future cash flow generation capabilities."

According to the statement from the US options company, the new program approved by the Board does not require the firm to repurchase its own stock at any specific time or situation.

In fact, the exchange operator said today that it will repurchase its shares depending on market conditions, share price, Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term targets, regulatory requirements and other factors.