Cboe Global Markets is considering moving its Loop headquarters, though the Chicago Board Options Exchange parent would not leave Chicago and it would leave its trading floor where it is.
During a conference call today with analysts about its fourth-quarter earnings release, the company's chief financial officer, Brian Schell, mentioned the possible move, without providing details. He was explaining a nearly 50 percent increase in capital expenditures forecast for this year, when he referenced the possibility of the move.
"A significant driver of the increase in our forecast is an assumption that we will spend additional capital for the possible relocation and leasing of our Chicago corporate office headquarters,” Schell said on the conference call. “We have no definitive plans to share at this point, but if we do decide to relocate, we would not expect to incur the increased capital expenditures until second half of 2019, at which time we would likely be able to provide more clarity.”
Cboe has cut back its Chicago workforce since its $3.2 billion merger with the electronic exchange Bats, with some technological operations shifting to the one-time Bats headquarters in Lenexa, Kan. While Bats was all-electronic, Cboe still operates a few floor-trading pits.
Cboe spokeswoman Suzanne Cosgrove said the company is "absolutely not considering relocating Cboe's headquarters outside of the Chicago area," and noted the trading floor would not leave its current location. The headquarters is at 400 S. LaSalle St.
CEO Ed Tilly recently consolidated power when he added the title of president after the exit last month of Chris Concannon, who had held that post and was formerly the CEO of Bats.
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