CBOE sees its profits tumble

CBOE Holdings, which runs the Chicago Board Options Exchange, reported lower-than-expected earnings yesterday, with second-quarter net income falling 11 per cent to $24.9m (£15.7m).

But the firm called the results – its first since its $339m initial public offering in June – “solid,” and pledged to keep control over expenses in future quarters. However the firm, led by chief executive William Brodsky, did forecast that core expenses would by rise three per cent to five per cent annually.