Cboe Global Markets' Ed Tilly to Serve as Chairman of the World Federation of Exchanges

CHICAGO, Sept. 9, 2021 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading provider of global market infrastructure and tradable products, today announced that its Chairman, President and CEO Ed Tilly has been appointed Chairman of the World of Federation of Exchanges (WFE), the global industry group for exchanges and clearinghouses (CCPs) around the world. Mr. Tilly was previously Vice Chairman of the WFE from 2018 to 2021 and began serving a two-year term as Chairman of the WFE on  September 9.

As Chairman of the WFE, Mr. Tilly will work with WFE CEO Nandini Sukumar and its board and members to advance the organization's mission to  foster well-functioning capital markets, reinforce systemic stability, support developing markets and educate on the role exchanges and clearinghouses play in the global economy. Additionally, together with its members, the WFE creates and agrees on best practices and standards for the industry. Mr. Tilly was elected Chairman by the WFE membership during its 60^th Annual Meeting, hosted by the Shenzhen Stock Exchange, which was held virtually today. 

"I am deeply honored to have the privilege to serve as the new Chairman of the WFE," said Ed Tilly, Chairman, President and CEO of Cboe Global Markets. "Cboe has been a longstanding member of the WFE and shares a common vision for promoting markets that serve all investors. I look forward to working even more closely with Nandini and the WFE board and its members as a collective force to ensure the integrity of global markets, advocate for smart and efficient regulation, support measures that facilitate global capital flow, drive the transition towards an inclusive and sustainable economy, and speak as one clear and powerful voice for our industry." 

Nandini Sukumar, CEO of the WFE, said: "We are pleased to welcome Ed as Chairman of the WFE. Ed brings many years of industry experience and a passion and commitment to our mission, and we look forward to furthering our progress under his chairmanship. We would like to also express immense gratitude to Dr. Urs Rüegsegger, the outgoing chairman, who has been a great champion of our industry and of the WFE. He has been instrumental in making us the voice of the industry. Exchanges and CCPs will continue to play a vital role in fostering a sustainable financial system and in ensuring the integrity and stability of our markets. As market infrastructure continues to evolve globally, the WFE remains committed to its mission of maintaining resilient, open and interconnected markets across the world."

Dr. Urs Rüegsegger, Chairman of SIX Swiss Exchange and outgoing Chairman of the WFE, said: "I have enjoyed working with Ed during our tenures at the WFE and wish him the best of luck as he takes the helm as Chairman. I have no doubt that he and Nandini will continue to successfully guide the WFE board in its work to further promote the development of well-regulated and transparent markets, serve its members, and position the WFE as the world's most important advocacy group for exchanges and CCPs globally."

The WFE represents more than 250 market-infrastructures ranging from those that operate the largest financial centers to those that run frontier markets. Of its members, 37 percent are spread across the Asia-Pacific region, 43 percent in Europe, Middle East and Africa, and 20 percent are the Americas. Members include over 50 distinct CCP clearing services, among them stand-alone CCPs. WFE exchanges are home to 47,919 listed companies, and the market capitalization of these entities is over $109 trillion.

Mr. Tilly will draw on his 30 years of experience as an integral member of the Cboe community to serve the WFE. Prior to being named CEO in 2013, Mr. Tilly was Cboe President and Chief Operating Officer, served as Cboe Executive Vice Chairman and as Cboe's Member Vice Chairman – the highest member-elected position at the Exchange. He started as a trading floor clerk in 1987, eventually trading as both a market-maker and a designated primary market-maker (DPM) until joining Cboe's executive management team in 2006. 

As Chairman, President and CEO of Cboe, Mr. Tilly has guided the company in expanding its role as a market leader in providing cutting-edge trading and investment solutions to investors worldwide. As a result of his leadership, Cboe offers trading across a diverse range of products in multiple asset classes and geographies. Most recently, the company expanded its global footprint with the acquisitions of MATCHNow in Canada and Chi-X Asia Pacific, as well as with the launch of its Cboe Europe Derivatives exchange. In November, the company plans to expand global trading hours for its S&P 500 Index (SPX) and Cboe Volatility Index® (VIX®) options to nearly 24 hours a day, five days per week, subject to regulatory review.

About Cboe Global Markets, Inc.

Cboe Global Markets (Cboe: CBOE), a leading provider of market infrastructure and tradable products, delivers cutting-edge trading, clearing and investment solutions to market participants around the world. The company is committed to operating a trusted, inclusive global marketplace, providing leading products, technology and data solutions that enable participants to define a sustainable financial future. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives and FX, across North America, Europe and Asia Pacific. To learn more, visit www.cboe.com.

CBOE-C
CBOE-OE

Cboe®, Cboe Global Markets®, Cboe Volatility Index®, and VIX® are registered trademarks of Cboe Exchange, Inc.  Standard & Poor's®, S&P®, and S&P 500®  are registered trademarks of Standard & Poor's Financial Services, LLC, and have been licensed for use by Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.

Any products that have the S&P Index or Indexes as their underlying interest are not sponsored, endorsed, sold or promoted by Standard & Poor's or Cboe and neither Standard & Poor's nor Cboe make any representations or recommendations concerning the advisability of investing in products that have S&P indexes as their underlying interests. All other trademarks and service marks are the property of their respective owners.

Options involve risk and are not suitable for all market participants. Prior to buying or selling an option, a person should review the  Characteristics and Risks of Standardized Options (ODD), which is required to be provided to all such persons.  Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606.

Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P. Investors should undertake their own due diligence regarding their securities, futures and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.  Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.

Cboe Global Markets, Inc.  and  its  affiliates, to the maximum extent permitted by applicable law,  make  no  warranty,  expressed  or  implied,  including,  without  limitation,  any  warranties  as  of  merchantability,  fitness  for  a particular  purpose,  accuracy,  completeness  or  timeliness,  the  results to  be  obtained  by  recipients  of  the  products  and  services  described  herein, or as to the ability of the S&P 500 index to track the performance of its strategy, and shall not in any way be liable for any inaccuracies or errors.  Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release. 

Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as "may," "might," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.

We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

Some factors that could cause actual results to differ include: the impact of the novel coronavirus ("COVID-19") pandemic, including changes to trading behavior broadly in the market; the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes; our ability to protect our systems and communication networks from security risks, cybersecurity risks, insider threats and unauthorized disclosure of confidential information; increasing competition by foreign and domestic entities; our dependence on and exposure to risk from third parties; fluctuations to currency exchange rates; our index providers' ability to maintain the quality and integrity of their indices and to perform under our agreements; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to attract and retain skilled management and other personnel; our ability to minimize the risks, including our credit and default risks, associated with operating a European clearinghouse; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing potential conflicts between our regulatory responsibilities and our for-profit status; our ability to maintain BIDS Trading as an independently managed and operated trading venue, separate from and not integrated with our registered national securities exchanges; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; our ability to manage our growth and strategic acquisitions or alliances effectively; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; and the accuracy of our estimates and expectations. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2020 and other filings made from time to time with the SEC.

We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

View original content to download multimedia:https://www.prnewswire.com/news-releases/cboe-global-markets-ed-tilly-to-serve-as-chairman-of-the-world-federation-of-exchanges-301372479.html

SOURCE Cboe Global Markets, Inc.