CBOE · 10-Q · 2026Q3 · Full report

Strategic Realignment Actions

Cboe Global Markets, Inc. · 2026-10-30 · Importance 59 · Surprise 82

On May 1, 2026, Cboe announced additional strategic realignment actions to optimize resource allocation, with substantial completion expected by the end of 2026. Strategic realignment costs were $16.7 million in the third quarter of 2026, compared with $7.0 million in the prior-year quarter, and totaled $45.5 million for the first nine months, compared with $24.6 million. Nine-month 2026 costs included $36.3 million in compensation and benefits, $6.1 million in professional fees and outside services, $1.9 million in technology support services, and $1.4 million in asset impairment, partially offset by a $0.2 million reversal in other expenses. No specific headcount reduction amount is stated in this section.

Key facts

• Cboe expected its strategic realignment actions announced May 1, 2026 to be substantially completed by the end of 2026. source
• For the nine months ended September 30, 2026, severance related to Cboe's strategic realignment increased $24.6 million, partially accrued bonuses increased $11.5 million, and equity compensation related to executive transitions increased $7.4 million. source
• Cboe initiated the wind down of its Japanese equities business in 2025, including cessation of Cboe Japan’s proprietary trading system and Cboe BIDS Japan block trading platform. source
• Cboe Japan's assets were impaired by $4.5 million in the three months ended September 30, 2025 following the wind down of Cboe's Japanese equities business. source
• Cboe recorded a $1.4 million impairment charge for intangible assets associated with FT Options and Trade Alert following the wind down of operations in the three months ended September 30, 2026. source
• Cboe formally initiated the wind down of the CEDX exchange service in January 2026, and decommissioned it effective February 23, 2026. source
• The company’s strategic realignment costs were $16.7 million in the third quarter of 2026 and $45.5 million for the first nine months of 2026. source
• Cboe’s nine-month 2026 strategic realignment costs included $36.3 million in compensation and benefits, $6.1 million in professional fees, $1.9 million in technology support services, and $1.4 million in impairment charges, partially offset by a $0.2 million reversal in other expenses. source