Nov 1 Reuters Cboe Global Markets reported better than expected thirdquarter profit on Friday, helped by strong options trading as investors actively hedged against geopolitical and economic uncertainties.

A robust equities market, shifts in the U.S. Federal Reserve39;s key policy rates and the potential economic fallout from the Middle East conflict have investors and portfolio managers on edge, prompting them to hedge their positions.

Cboe39;s options trading business revenue grew 10 compared with last year, while futures revenue climbed 17.

Average daily volumes in total company options increased to 14.88 million contracts in the quarter ended Sept. 30, from 14.59 million a year earlier.

Volumes in SP 500 index options were also higher, with thirdquarter ADV increasing to 4.23 million contracts from 3.74 million contracts. Meanwhile, options linked to the VIX volatility index, increased 33 yearoveryear.

Given the secular and cyclical tailwinds in place, we believe we39;re well positioned as investors continue to utilize options in their portfolios and trading strategies, Chief Executive Fredric Tomczyk told an analysts39; call.

Tomczyk was appointed CEO after Edward Tilly resigned over failures to disclose personal relationships with colleagues. Among his priorities were effective capital allocation and talent and succession management.

Over the past year, Tomczyk has been more deliberate about how the exchange allocates capital and resources to support its…