Exchange operator Cboe writes down bulk of ErisX acquisition

Published by
Reuters UK

(Reuters) -Cboe Global Markets Inc on Friday reported second-quarter profit slightly below Wall Street expectations as compensation costs rose, and also said it took a $460 million writedown on its recent purchase of digital asset exchange ErisX. The global exchange operator’s net income, excluding one-time items, rose to $1.67 per share, in the three months ended June 30, which was 2 cents below the consensus estimate of analysts, according to Refinitiv IBES data. The miss was driven by higher-than-expected compensation expenses, Jefferies analyst Daniel Fannon said in a client note. Includin…

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