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Chicago Board Options Exchange (CBOE)’s fee hike in the third quarter resulted in a 53% growth in total revenue, the exchange said in its latest report for the three month period ending 30 September.
Total revenue for the quarter was $96.8m compare to $63.4m in 2006, a 53% increase. The growth was the result of “higher transaction fees generated by strong growth in contracts traded,” the exchange said.
CBOE saw a 152% rise in quarterly pre tax profits reporting $41.2m for the three month period ending 30 September versus $16.3m in the same period last year.
Net income for the quarter also saw a substantial rise moving to £22.7m compared to $9.1m in 2006. ADV for the three month period was 4.1m a significant increase on the 2.5m in the equivalent 2006 period.
“Not all algo trading is HFT, but all HFT is algo trading. We shouldn’t throw the baby out with the bathwater when choosing to regulate HFT.”
CME's Bob Ray at Derivatives World London 2010