CLEARING OPERATION (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Total Margin Deposits, Clearing Funds, and Interoperability Fund Deposits

The details of margin deposits, clearing funds, and interoperability funds as of September 30, 2025 and December 31, 2024, are as follows (in millions):


	September 30, 2025
	Margin Deposits		Clearing Funds		Interoperability Funds		Total
Cboe Clear Europe central bank account	$	528.7	$	9.5	$	61.2	$	599.4
Cboe Clear Europe reverse repurchase and other (1)	322.1		249.9		468.4		1,040.4
Cboe Clear U.S. customer bank deposits	1.0		—		—		1.0
Total cash margin deposits, clearing funds, and interoperability funds	$	851.8	$	259.4	$	529.6	$	1,640.8


	September 30, 2025
	Margin Deposits		Clearing Funds		Interoperability Funds		Total
Cboe Clear Europe non-cash contributions (2)	$	881.7	$	94.5	$	298.3	$	1,274.5


	December 31, 2024
	Margin Deposits		Clearing Funds		Interoperability Funds		Total
Cboe Clear Europe central bank account	$	378.4	$	173.7	$	289.3	$	841.4
Cboe Clear Europe reverse repurchase and other	—		—		—		—
Cboe Clear U.S. customer bank deposits	4.1		—		—		4.1
Total cash margin deposits, clearing funds, and interoperability funds	$	382.5	$	173.7	$	289.3	$	845.5


	December 31, 2024
	Margin Deposits		Clearing Funds		Interoperability Funds		Total
Cboe Clear Europe non-cash contributions (2)	$	691.4	$	80.1	$	225.9	$	997.4

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(1)These amounts consist of reverse repurchase transactions with overnight maturities. Reverse repurchase transactions are valued daily and are subject to collateral provisions based on which the counterparty must provide additional collateral if the underlying securities decrease in value, in an amount sufficient to maintain collateralization of at least 102%. Collateral received from the respective counterparties consists of sovereign bonds, consistent with Cboe Clear Europe's investment policy.

(2)These amounts are not reflected in the condensed consolidated balance sheets, as Cboe Clear Europe does not have the ability to sell or repledge the amounts absent a clearing participant default.