By Dean Seal


Cboe Global Markets plans to wind down the operations of its spot digital asset trading platform as it pulls crypto operations into its existing derivatives and clearing business lines.

The Chicago-based markets infrastructure company said Thursday the wind-down of the Cboe Digital Spot Market is planned for the third quarter.

Cboe intends to fully integrate the digital asset derivatives currently offered by Cboe Digital into its existing Global Derivatives and Clearing units, creating efficiencies for both Cboe and its clients, the company said.

The transition comes as part of a strategic review by Cboe and takes into account the "lack of regulatory clarity in the digital space," the company said.

David Howson, Cboe's global president, said the company expects to see greater demand for exchange-traded derivatives to help manage crypto exposures and hedge risk.

The wind-down of the digital spot market is expected to have an immaterial impact on revenue and cut $2 million to $4 million in expenses in 2024.


Write to Dean Seal at dean.seal@wsj.com


(END) Dow Jones Newswires

04-25-24 0938ET