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The Global Sources app is your all-in-one B2B trade app for sourcing, exhibitor search, show planning and on-site visits.

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Instantly trade on the go with the user-friendly, award-winning OANDA forex trading app. Trade major and minor forex pairs, such as EUR/USD, USD/CAD, USD/JPY, AUD/USD and GBP/USD. Get instant quotes a

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Operating with integrity and transparency to maintain the trust of market participants, regulators, and stakeholders. We prioritize market quality, fair access, and robust risk management in all our operations.

Trust

Continuously redefining the future of the investment landscape through cutting-edge products, advanced technology platforms, and data solutions that create value for our marketplace, customers, investors, and employees.

Innovation

Building a workforce that reflects the world in which we operate and fostering a culture where every associate feels welcome, safe, and empowered to contribute their best work and ideas.

Inclusion

Encouraging creative and collaborative problem-solving where participation from all associates is valued and everyone has a voice in shaping our future success.

Collaboration

Providing associates the freedom to work in ways and places that best suit them and their role through our flexible hybrid environment, enabling them to choose when to work in-office based on business needs.

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Supporting associates' excellence through robust and holistic benefits, competitive compensation, and a company culture that prioritizes connection, collaboration, and inclusivity across our global operations.

Excellence

Cboe Global Markets is a leading provider of market infrastructure and tradable products, operating exchanges for options, equities, futures, and foreign exchange across North America, Europe, and Asia-Pacific.

Craig Donohue

Chief Executive Officer

Fredric J. Tomczyk

Former CEO & Board Member

William M. Farrow III

Non-Executive Chairman of the Board

Jill M. Griebenow

Executive Vice President & Chief Financial Officer

Chris Isaacson

Executive Vice President & Chief Operating Officer

David Howson

Executive Vice President, Global President

Catherine Clay

Executive Vice President, Head of Global Leadership

Natan Tiefenbrun

Global Head of Cash Equities

Kenneth Hill, CFA

Senior Vice President, Treasurer & Head of Investor Relations

Cboe Global Markets, Inc. is an American financial exchange operator headquartered in Chicago. It owns and operates a portfolio of exchanges and trading venues across equities, options, futures, and digital assets. Founded in 1973 as the Chicago Board Options Exchange, the company also owns the stock exchange operator BATS Global Markets. Cboe is known for products such as the VIX volatility index for operating markets in North America, Europe, and Asia-Pacific.

https://en.wikipedia.org/wiki/Cboe_Global_Markets

The flagship CBOE Volatility Index (VIX), known as Wall Street's "fear gauge," measures market expectations of near-term volatility from S&P 500 options. The comprehensive VIX suite includes futures, options, and exchange-traded products enabling investors to hedge volatility risk and implement sophisticated trading strategies.

VIX Volatility Index & Derivatives

Cash-settled options on the S&P 500 Index providing efficient exposure to U.S. equity markets for institutional and retail investors. SPX options enable risk management, hedging, asset allocation, and income generation with flexible contract sizes and expirations including zero-day-to-expiry (0DTE) contracts.

SPX S&P 500 Index Options

Comprehensive equity options marketplace across four U.S. options exchanges offering trading in thousands of listed equity and ETF options. Cboe achieved record average daily volume of 14.95 million contracts in 2024, representing the fifth consecutive year of volume growth.

U.S. Equity Options Trading

Futures exchange offering volatility futures (VIX), interest rate products, and plans to transition cash-settled bitcoin and ether futures from digital spot markets in 2025. Provides electronic trading infrastructure for derivatives on non-traditional underlying assets.

Cboe Futures Exchange (CFE)

Equity cash trading across multiple U.S. equities exchanges acquired through BATS Global Markets, providing high-performance electronic trading infrastructure with competitive pricing and advanced order types for stocks and ETFs.

Cash Equities Trading (BATS)

European derivatives trading platform offering index options, equity options, and futures across pan-European markets. Provides access to European equity and index volatility products with standardized contracts and central clearing.

Cboe Europe Derivatives

Comprehensive market data, analytics, and indices including Cboe LiveVol platforms offering real-time options analytics, trading activity analysis, and opportunity identification tools. Provides actionable insights from Cboe's market intelligence team and proprietary data feeds.

Data Vantage Analytics & Indices

Foreign exchange trading solutions and infrastructure supporting spot, forward, and options trading in major currency pairs across global FX markets with institutional-grade execution capabilities.

Global FX Trading

Cash-settled bitcoin and ether derivatives products including index options in collaboration with FTSE Russell. Transitioning to CFE platform in 2025 to leverage expertise in derivatives and clearing while focusing on regulated cryptocurrency exposure.

Digital Asset Derivatives

Cboe reported record full-year 2024 net revenue of $2.1 billion (up 8% YoY) and record adjusted diluted EPS of $8.61 (up 10% YoY), with all three business segments—Derivatives Markets, Data Vantage, and Cash and Spot Markets—contributing to growth. The company provided 2025 guidance expecting mid-single digit organic revenue growth.

Cboe Global Markets Reports Results for Fourth Quarter 2024 and Full Year

Craig Donohue was named CEO of Cboe Global Markets effective May 7, 2025, succeeding Fredric Tomczyk who transitioned to an advisory role through June 2025 and remains a member of the board of directors.

Cboe Global Markets Announces Leadership Transition - Craig Donohue Named CEO

Cboe Global Markets announced it would begin trading Options on Cboe Volatility Index (VIX) Futures starting Monday, October 14, 2024, providing market participants with additional tools to trade and hedge volatility of volatility.

Cboe Announces Options on VIX Futures Trading

Cboe announced plans to refocus its digital asset business to leverage core strengths in derivatives, technology, and product innovation by transitioning digital asset derivatives into existing Global Derivatives and Clearing businesses while winding down the Cboe Digital Spot Market in Q3 2024.

Cboe Global Markets Realigns Digital Asset Business

Cboe expanded its collaboration with FTSE Russell to drive product innovation in digital assets, leveraging combined expertise to develop new derivatives products potentially including cash-settled index options tied to the FTSE Bitcoin Index and FTSE Ethereum Index.

Cboe Announces Expanded Collaboration with FTSE Russell for Digital Asset Derivatives

Cboe Europe Derivatives achieved significant growth in 2024 with record volumes across its pan-European derivatives platform, demonstrating continued expansion of Cboe's international footprint and product offerings in European markets.

Cboe Europe Derivatives 2024 Recap Shows Strong Growth

Cboe announced it began publishing intraday values for the new Cboe 20+ Year Treasury Bond ETF Volatility Basis Point Index on August 12, 2024, expanding its suite of volatility indices beyond equities into fixed income markets.

Cboe Launches 20+ Year Treasury Bond Volatility Index

Hard to believe, but: Cboe Global, $CBOE, is in talks with retail brokerages to relaunch “all-or-nothing” options contracts for individual investors that would look to compete with prediction markets, per WSJ

Cboe Global Markets Announces Date of First-Quarter 2026 Earnings Release and Conference Call

Cboe Global Markets Reports Trading Volume for February 2026

4 Filing: Cboe Global Markets, Inc.

Cboe Global Markets Declares First-Quarter 2026 Dividend

Cboe Global Markets Reports Results for Fourth Quarter 2025 and Full Year

Cboe Global Markets Reports Trading Volume for January 2026

Cboe Global Markets, Inc.

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Security & Commodity Brokers, Dealers, Exchanges & Services

The Chicago Board Options Exchange began trading standardized stock options on April 26, 1973, from a converted smoking lounge with 911 contracts on 16 stocks traded the first day. This pioneering moment created the modern exchange-traded options industry.

CBOE Founded and Begins Trading

On January 19, 1993, CBOE introduced the CBOE Volatility Index (VIX), created by Vanderbilt professor Robert E. Whaley to measure 30-day implied volatility of S&P 100 options. VIX would become Wall Street's premier "fear gauge" and market sentiment indicator.

VIX Volatility Index Introduced

CBOE changed the underlying benchmark for the VIX from the S&P 100 to the broader S&P 500 index, enhancing its relevance as a measure of broad market volatility expectations.

VIX Methodology Updated to S&P 500

CBOE began trading VIX futures in early 2004, providing market participants with tools to directly trade and hedge volatility, opening new dimensions in risk management and trading strategies.

VIX Futures Trading Launched

CBOE launched VIX options in 2006, further expanding the suite of volatility trading products and enabling more sophisticated strategies for managing market uncertainty and portfolio risk.

VIX Options Introduced

Following demutualization, CBOE Holdings completed its initial public offering on June 18, 2010, and began trading on the NASDAQ stock exchange, transitioning from member ownership to a publicly-traded company.

CBOE Holdings Initial Public Offering

CBOE completed its $3.2 billion acquisition of BATS Global Markets on February 28, 2017. BATS was the second-largest U.S. stock exchange by shares traded and brought advanced trading technology and significant equity market infrastructure.

BATS Global Markets Acquisition Completed

On October 16, 2017, the company changed its legal name from CBOE Holdings, Inc. to Cboe Global Markets, Inc., reflecting its evolution into a global multi-asset class exchange operator following the BATS acquisition.

Rebranding to Cboe Global Markets

Cboe Futures Exchange became the first of Cboe's exchange subsidiaries to migrate onto the BATS technology platform in February 2018, beginning the technological integration following the acquisition.

Cboe Futures Exchange Migrates to BATS Technology

Cboe delisted its shares from NASDAQ and began trading exclusively on its own Cboe BZX Exchange, demonstrating confidence in its market infrastructure and joining elite exchanges that list their own shares.

Self-Listing on Cboe Exchange

Fredric J. Tomczyk was appointed CEO in September 2023, succeeding Edward T. Tilly. William M. Farrow III was simultaneously named non-executive Chairman of the Board, establishing new executive leadership.

Leadership Transition to Fredric Tomczyk

Cboe announced a strategic realignment of its digital asset business in April 2024, winding down the Cboe Digital Spot Market to focus on digital asset derivatives and clearing, leveraging core competencies in derivatives infrastructure.

Digital Asset Business Realignment

On August 12, 2024, Cboe began publishing intraday values for the new Cboe 20+ Year Treasury Bond ETF Volatility Basis Point Index, expanding its suite of volatility measurement tools to fixed income markets.

20+ Year Treasury Bond Volatility Index Launch

On October 14, 2024, Cboe began trading Options on VIX Futures, providing market participants with additional tools to express views on volatility of volatility and implement sophisticated hedging strategies.

Options on VIX Futures Launched

Cboe achieved record full-year 2024 net revenue of $2.1 billion (up 8% YoY) and record adjusted diluted EPS of $8.61 (up 10% YoY), with all three business segments contributing to growth and fifth consecutive year of record options volumes.

Record Annual Financial Results

Craig Donohue was named CEO of Cboe Global Markets effective May 7, 2025, succeeding Fredric Tomczyk who transitioned to an advisory role and remained on the board of directors.

Craig Donohue Named CEO

The official American Express App for iPhone allows you to access your Account from anywhere. Track spending & rewards, find offers, review your balance, pay your bill and enjoy features only availabl

Turn travel dreams into dream vacations by booking through Amex Travel. Whether exploring new places or finding the right hotel, the Amex Travel App can help you get there. 

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GET A CLEARER PICTURE OF YOUR CASH FLOW 
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Henry Wells

William G. Fargo

John Butterfield

James C. Fargo

Ralph Reed

Kenneth Chenault

0day vulnerability full disclosure: American Express

American Express fails miserably at basic security

American Express will give all parents 20 weeks of paid leave

Why Discover is no American Express

Obfuscated JavaScript, scam emails, and American Express

American Express Company is an American bank holding company and multinational financial services corporation that specializes in payment cards. It is headquartered at 200 Vesey Street, also known as American Express Tower, in the Battery Park City neighborhood of Lower Manhattan. Amex is the fourth-largest card network globally based on purchase volume, behind China UnionPay, Visa, and Mastercard. 141.2 million Amex cards were in force worldwide as of December 31, 2023, with an average annual spend per card member of US$24,059. That year, Amex handled over $1.7 trillion in purchase volume on its network. Amex is the 16th largest US bank, with a total of US$270 billion in assets or 1.1% of all assets insured by the FDIC. It is ranked 58th on the Fortune 500 and 28th on the list of the most valuable brands by Forbes. In 2023, it was ranked 63rd in the Forbes Global 2000. American Express National Bank is a direct bank owned by Amex.

https://en.wikipedia.org/wiki/American_Express

American multinational financial services corporation

American Express Company reported $60.5 billion in revenue for 2024, up 9% year-over-year, driven by strong consumer spending among affluent cardmembers and growing merchant acceptance. Company had 143 million cards in force globally (U.S. 71M, international 72M) with 58 million active cardmember accounts. Average spending per cardmember reached $25,000 annually (vs. Visa/Mastercard average $8,000), reflecting premium customer base skewing toward high-income households ($100K+ annual income representing 60%+ of volumes). Net income $8.4 billion (14% margin). Stock NYSE:AXP traded at $245, market cap $175 billion. However, merchant acceptance remained challenge—AmEx accepted at 99% of U.S. locations where credit cards accepted but lower internationally due to higher merchant fees (2.5-3.5% vs. Visa/Mastercard 1.5-2.5%).

American Express Reports $60.5B Revenue in 2024, 143M Cards in Force Globally

American Express raised Platinum Card annual fee from $550 to $695 in 2024 (sixth increase since 1984 launch at $250), positioning as ultra-premium travel card competing with Chase Sapphire Reserve, Capital One Venture X. Fee increases justified by enhanced benefits: $200 airline fee credit, $200 Uber credit, $200 hotel credit, $189 CLEAR credit, $240 digital entertainment credit (Disney+, Hulu, Peacock, NYT), airport lounge access (Centurion Lounges, Priority Pass), hotel elite status (Marriott Gold, Hilton Gold). Annual benefits totaled $1,000+ value if fully utilized. Despite fee hikes, Platinum Card membership grew 8% to 13M+ cardmembers globally. Affluent consumers viewed card as essential lifestyle accessory, status symbol. Average Platinum cardmember spent $50,000+ annually.

AmEx Platinum Card Annual Fee Rises to $695, Premium Benefits Justify Cost for Affluent

American Express operated 30 Centurion Lounges globally in 2024 (up from 15 in 2020), exclusive airport lounges for Platinum, Centurion (Black Card) cardmembers. Lounges featured chef-curated menus, premium open bars, espresso service, private workspaces, showers, spa treatments—far exceeding typical airline clubs. Locations included major hubs (New York JFK, LAX, London Heathrow, Tokyo Haneda, Hong Kong). However, overcrowding became issue as Platinum membership surged—lounges frequently at capacity, turned away cardmembers during peak hours. AmEx responded by restricting guest access, considering paid entry for lower-tier cards, building larger facilities. Lounges represented $500M+ annual investment but critical differentiation—competitors (Chase, Capital One) building rival lounges.

American Express Centurion Lounges Expand to 30 Airports, Differentiate Premium Experience

American Express Membership Rewards program enrolled 100+ million members globally in 2024, earning points on purchases (1-5x depending on category, card) redeemable for travel, statement credits, gift cards, merchandise. Strategic partnerships with Delta Air Lines (exclusive credit card issuer since 1996), Hilton Hotels (co-brand cards), Marriott Bonvoy strengthened value proposition. Membership Rewards points valued at 1.5-2 cents each when transferred to airline/hotel partners vs. 0.6-1 cent for cash redemption, incentivizing travel spending. Points liability (outstanding unredeemed points) exceeded $20 billion on balance sheet, managed through expiration policies, redemption encouragement. Loyalty program created switching costs—cardmembers with large point balances reluctant to cancel cards despite high fees.

AmEx Membership Rewards: 100M+ Members, Partnerships with Delta, Hilton Drive Loyalty

American Express achieved 99% merchant acceptance rate in U.S. (locations accepting credit cards) in 2024, up from 90% in 2015, closing historical gap with Visa/Mastercard (both 99%+). Acceptance improvements resulted from fee negotiations with large merchants (Costco previously excluded AmEx 2016-2021, now accepts), OptBlue program allowing third-party processors to handle AmEx transactions (reducing merchant integration costs), and consumer demand pressure. However, international acceptance lagged: 85% in Canada/UK, 70% in Europe, 50% in Asia-Pacific. Higher merchant discount rates (2.5-3.5% vs. Visa/Mastercard 1.5-2.5%) deterred small international merchants. Limited acceptance remained competitive disadvantage vs. Visa/Mastercard's near-universal reach.

American Express Merchant Acceptance Reaches 99% in U.S., International Remains Gap

American Express Centurion Card (unofficially 'Black Card') remained most exclusive credit card globally in 2024: invitation-only, $10,000 initiation fee, $5,000 annual fee (plus $5,000 per authorized user). Estimated 100,000-120,000 Centurion cardmembers worldwide (exact number undisclosed). Requirements: spend $250,000+ annually on Platinum Card, receive invitation, demonstrate $1M+ net worth or $500K+ annual income. Benefits: dedicated concierge (24/7 personal assistant booking restaurants, travel, tickets), access to exclusive events, hotel upgrades, airport transfers, no preset spending limit. Card made from anodized titanium (literally heavy metal card). Centurion represented 2-3% of AmEx revenue but outsized brand prestige—ultimate status symbol for ultra-wealthy. Competitors (JP Morgan Palladium, Citi Chairman) struggled to match mystique.

American Express Centurion 'Black Card': $10K Initiation, $5K Annual Fee, Ultra-Exclusive

American Express Dominates Premium Credit Cards with $60B Revenue, Affluent Customer Base, and Closed-Loop Network

TIL con artist Anthony Gignac once convinced American Express to issue him a platinum card with a $200 million credit limit under the name of an actual Saudi prince by claiming that failing to supply him with new card would anger his supposed dad, the king.

Johnson: "Last time I checked, Americans have more freedom right now to express themselves and speak their minds after Republicans took over and ended the years of Americans voices silenced during the lefts cancel culture. it's the Republicans who restored your right to share and speak your mind."

Trump support in 2024 linked to White Americans’ perception of falling to the bottom of the racial hierarchy. These individuals also expressed the strongest opposition to Diversity, Equity, and Inclusion (DEI) initiatives.

Study reveal that 16% of the population expresses discomfort about the prospect of a female president. Furthermore, the result is consistent across demographic groups. These results underscore the continued presence of gender-based biases in American political attitudes.

Teenager Blades Brown shoots 60, ties Scottie Scheffler for lead at The American Express

Alex Pretti and Renee Nicole Good were Americans with the same right to live and to express their views as Charlie Kirk. Choosing to not condemn the Minneapolis ICE Murders after being outraged by Kirk’s Murder is having no Morals.

Amex canceled my Platinum &amp; Centurion accounts after 28 yrs w/ no explanation

what's the deal with american express?

New Wave American Express Shutdowns

Why people think amex is rich people card?

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AMERICAN EXPRESS CO

Henry Wells, William Fargo, John Butterfield merged competing express companies, forming American Express Company in Buffalo, NY on March 18, 1850. Express freight, money, valuables delivery.

When AmEx refused California expansion, Wells and Fargo founded separate Wells Fargo (1852) serving West Coast. American Express remained East/Midwest. Companies coexisted for decades.

American Express dominated express freight industry—shipping cash, gold, securities, documents via stagecoach, rail. Armed guards protected valuables. Premium service for time-sensitive shipments.

Entered financial services—money orders, cash transfers competing with Western Union. Built reputation for secure financial transactions beyond physical freight.

President James C. Fargo commissioned Marcellus Berry to create Traveler's Cheque (launched July 7, 1891) solving international cash access problem. Pre-purchased, dual-signed checks accepted globally. Revolutionary travel finance product.

Traveler's Cheques became most profitable product—generating billions in float (cash held between purchase and redemption). American Express synonymous with international travel.

Sold express delivery operations to Railway Express Agency. Fully transitioned to financial services—Traveler's Cheques, money orders, travel services. End of original freight business.

Introduced American Express Card (green card) in October 1958 responding to Diners Club, BankAmericard. Charge card (full balance due monthly), premium positioning, higher merchant fees, travel focus. Status symbol.

Built global network of travel offices booking flights, hotels, tours. American Express offices in major cities became traveler resources worldwide.

Introduced Gold Card—higher credit limits, travel insurance, emergency services. Created premium tier above Green Card. Annual fee $50 (vs. Green's $20).

Launched Platinum Card with $250 annual fee (unprecedented at time). Targeted ultra-affluent, offered luxury travel benefits, concierge service, airport lounge access. Redefined premium cards.

Introduced Membership Rewards points program—earn points on purchases, redeem for travel, merchandise. Created loyalty, switching costs. Became $20B+ liability on balance sheet.

Debuted invitation-only Centurion Card (Black Card): $10K initiation, $5K annual fee, invitation-only, titanium construction. Ultimate status symbol for ultra-wealthy. Estimated 100K-120K members globally.

Kenneth Chenault became CEO—third Black Fortune 500 CEO. Led through 9/11 (headquarters near WTC), 2008 financial crisis. Grew revenue $23B→$37B, stock +200%. Retired 2018.

During 2008 crisis, American Express obtained bank holding company charter, accessed TARP bailout funds ($3.4B). Allowed direct consumer deposits, expanded banking services. Repaid TARP 2009.

Opened first Centurion Lounge (San Francisco SFO) offering premium airport lounge experience with chef menus, open bars, spa. Expanded to 30+ global locations by 2024.

Costco ended exclusive AmEx partnership (since 1999), switched to Citi/Visa due to lower fees. Lost 10%+ U.S. cardmembers. Returned to Costco acceptance 2021 but without co-brand card.

Kenneth Chenault retired, succeeded by Stephen Squeri (AmEx veteran since 1985). Focused on digital transformation, millennial/Gen Z acquisition, premium positioning.

Pandemic decimated travel spending—AmEx's core market. Revenue declined 17% (2020). Pivoted marketing to everyday spending categories (groceries, gas). Travel recovered 2021-2022.

Generated $60.5B revenue (+9%), 143M cards globally (71M U.S., 72M international), 58M accounts. Average spending $25K per cardmember (vs. Visa/MC $8K). Net income $8.4B (14% margin). Platinum Card 13M+ members ($695 annual fee, sixth increase since 1984 launch). Centurion Lounges 30 airports. Membership Rewards 100M+ members, $20B+ points liability. Merchant acceptance 99% U.S. (85% Canada/UK, 70% Europe, 50% Asia due to higher merchant fees 2.5-3.5% vs. Visa/MC 1.5-2.5%). Stock NYSE:AXP $245, $175B market cap. Closed-loop network (issue, process, recruit merchants). Premium customer base: 60%+ earn $100K+ income. Headquarters New York. Originated as 1850 express delivery company, transformed to global premium card leader.

Cboe Global Markets vs American Express

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