- Cboe to become the preferred third-party distributor of all
Morningstar-branded indices
- Agreement expected to help broaden access to Morningstar
indices for investors globally
- Cboe Global Indices Feed is publishing an initial 50
Morningstar-branded indices beginning July
1, with plans to offer the full index suite in the fourth
quarter
CHICAGO, June 2, 2022 /PRNewswire/ -- Cboe Global Markets,
Inc. (Cboe: CBOE), a leading provider of global market
infrastructure and tradable products, today announced it has
entered into an agreement with Morningstar Indexes, a leading
global index provider, to begin publishing real-time, intraday
values for Morningstar-branded indices on its Cboe Global Indices
Feed. With this agreement, Cboe will become the preferred
third-party distributor of Morningstar's full range of branded
indices.
![(PRNewsfoto/Cboe Global Markets, Inc.) (PRNewsfoto/Cboe Global Markets, Inc.)](https://mma.prnewswire.com/media/622233/Cboe_Logo.jpg)
Morningstar offers more than 25,000 indices
calculated1 across all major asset classes, styles and
strategies for making asset allocation decisions, benchmarking
investment performance and creating index-linked investable
products. Under the new collaboration, Cboe Global Indices
Feed will be designed to provide market participants globally
with seamless and efficient access to all Morningstar indices
through a secure global network, delivered both on-premise and
through Cboe Global Cloud, a premier real-time cloud-based data
streaming service. Cboe Global Indices Feed is also expected
to help broaden distribution of Morningstar Indexes to new data
customers around the world.
Cboe Global Indices Feed, previously known as Cboe Streaming
Market Indices (CSMI), is a streaming data service that delivers
more than 400 real-time index values to customers globally. Under
the agreement, Cboe will distribute real-time values for an initial
50 Morningstar indices, including Morningstar's range of well-known
thematic, Economic Moat Focus and ESG indices, as well as the
recently introduced Morningstar Broad Style Indexes. This initial
dissemination will begin on July 1
via the MSTAR Channel, with additional indices being launched on
the MSTARC Channel at a later date. Additional indices are planned
to migrate to Cboe Global Indices Feed in a phased rollout over the
coming months. With the completion of this migration, planned for
the fourth quarter, Morningstar's complete suite of branded indices
will be available through Cboe Global Indices Feed.
"We are pleased to deepen our relationship with Morningstar
Indexes through this agreement and provide the global investment
community with enhanced access to the critical tools and solutions
to help them gain transparency into the markets and drive informed
investing decisions," said Catherine
Clay, Executive Vice President, Data and Access Solutions at
Cboe Global Markets. "Cboe's global and comprehensive data
streaming service covers some of the world's most innovative and
widely followed financial benchmarks. We are excited to expand our
offerings with the addition of all of Morningstar's indices and
look forward to helping extend the tremendous utility of these
products to an even broader base of customers
globally."
Enhanced by Morningstar's intellectual property (IP),
Morningstar Indexes' range of index solutions provide unmatched
value and flexibility for navigating long-term opportunities across
all major asset classes, styles and strategies. Morningstar's
IP-driven index solutions draw from Morningstar's leading-edge
research and ratings systems, including world-class intelligence
from Morningstar Equity Research, Sustainalytics and PitchBook and,
in the case of the Morningstar® Broad Style IndexesSM,
alignment with the Morningstar Style BoxTM.
"We're incredibly excited to expand on our collaboration with
Cboe Global Markets to make our unique, world-class index
approaches available to an even broader range of investors
globally," said Ron Bundy, president
of Morningstar Indexes Group at Morningstar. "As one of the fastest
growing global index providers, we are working hard to extend our
capabilities to a much larger span of investors and clients. Our
deepening alignment with Cboe Global Markets will help accelerate
access to our industry-leading indexes to help further empower
investors."
Cboe Global Indices is a leader in the creation and
dissemination of volatility and derivatives-based indices. Its
offerings include index design, implementation, calculation,
maintenance, administration and data distribution services for a
suite of custom indices and benchmarks.
Access to Cboe Global Indices Feed is available directly from
Cboe and through most large industry vendors. For more information
on the new Morningstar index channels and plans for the migration
of Morningstar's indices to Cboe Global Indices Feed, please see
Cboe's Trade Desk notice.
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.
About Morningstar, Inc.
Morningstar, Inc. is a leading
provider of independent investment research in North America, Europe, Australia, and Asia. The Company offers an extensive line of
products and services for individual investors, financial advisors,
asset managers and owners, retirement plan providers and sponsors,
and institutional investors in the debt and private capital
markets. Morningstar provides data and research insights on a wide
range of investment offerings, including managed investment
products, publicly listed companies, private capital markets, debt
securities, and real-time global market data. Morningstar also
offers investment management services through its investment
advisory subsidiaries, with approximately $265 billion in assets under advisement and
management as of March 31, 2022. The
Company has operations in 29 countries.
About Morningstar Indexes
Morningstar Indexes was built to keep up with the evolving needs of
investors—and to be a leading-edge advocate for them. Our rich
heritage as a transparent, investor-focused leader in data and
research uniquely equips us to support individuals, institutions,
wealth managers and advisors in navigating investment opportunities
across all major asset classes, styles and strategies. From
assessing risk and return with traditional benchmarks to helping
investors effectively incorporate ESG objectives into their
investment process, our range of index solutions spans an
investment landscape as diverse as investors themselves. We help
investors answer today's increasingly complex questions so that
they can more easily reach tomorrow's goals.
Cboe
Media Contact
|
Morningstar Media
Contact
|
Analyst
Contact
|
Angela Tu
|
Tim Benedict
|
Kenneth Hill,
CFA
|
+1-646-856-8734
|
+1 203-339-1912
|
1-312-786-7559
|
atu@cboe.com
|
tim.benedict@morningstar.com
|
khill@cboe.com
|
CBOE-E
CBOE-OE
Cboe®, Cboe Global Markets®, Cboe Volatility Index®, CFE®, and
VIX® are registered trademarks and Cboe Futures
ExchangeSM is a service mark of Cboe Exchange, Inc. All
other trademarks and service marks are the property of their
respective owners.
Morningstar-branded indexes ("Morningstar Indexes") are the
intellectual property of Morningstar, Inc. ("Morningstar") and have
been licensed to Cboe Global Markets ("Cboe") for further
distribution to its clients. Morningstar makes no
representation or warranty, express or implied, to the clients of
Cboe or any member of the public regarding the ability of the
Morningstar Indexes to track the performance of the market or any
particular security or group of securities or the advisability of
using indexes as the basis for making any investment.
Morningstar expressly disclaims any representation or warranty
around the accuracy, completeness and/or timeliness of any
Morningstar Index or any related data and Morningstar shall have no
liability for any errors, omissions or interruptions
therein.
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
Morningstar. Investors should undertake their own due diligence
regarding their securities, futures and investment practices. This
press release speaks only as of this date. Cboe 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 Morningstar indices to track the performance of
the general market or any segment thereof, 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
Morningstar indices and shall not in any way be liable for any
inaccuracies or errors.
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 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
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parties; fluctuations to currency exchange rates; factors that
impact the quality and integrity of our indices; the impact of the
novel coronavirus ("COVID-19") pandemic, including changes to
trading behavior broadly in the market; 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 minimize the risks, including our
credit and default risks, associated with operating a European
clearinghouse; our ability to accommodate trading and clearing
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we clear transactions; challenges to our use of open source
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including managing potential conflicts between our regulatory
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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
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goodwill, long-lived assets, investments or intangible assets; the
accuracy of our estimates and expectations; litigation risks and
other liabilities; and operating a digital asset business. 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, 2021 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.
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1 Source:
Morningstar, as of January 2022
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SOURCE Cboe Global Markets, Inc.