CBOE · 10-Q · 2026Q3 · Full report

Operating Cash Flow Trends

Cboe Global Markets, Inc. · 2026-10-30 · Importance 69 · Surprise 64

Net cash provided by operating activities for the nine months ended September 30, 2026 was $2,273.9 million, up $873.4 million, or 62.4%, from $1,400.5 million in the prior-year period. The increase primarily reflected changes in Cboe Clear Europe margin deposits, default fund and interoperability fund, customer bank deposits, higher net income, and Section 31 fees payable. These increases were partly offset by changes in accounts payable and accrued liabilities, accounts receivable, and income taxes receivable and payable.

Key facts

• Net cash provided by operating activities was $2,273.9 million for the nine months ended September 30, 2026, compared with $1,400.5 million for the same period in 2025. source
• For the nine months ended September 30, 2026, net cash provided by operating activities was $1,106.9 million higher than net income; the variance included a $1,420.2 million change in margin deposits, default fund, interoperability fund and customer bank deposits related to Cboe Clear Europe. source
• Cboe recognized a $14.0 million incremental reserve for collectability of notes receivable related to funding the Consolidated Audit Trail in the three and nine months ended September 30, 2026. source