May 3 (Reuters) - Cboe Global Markets ( CBOE ) reported

a rise in first-quarter profit on Friday, as strong demand for

hedging products amid market volatility helped boost the

exchange operator's options trading volumes.

Geopolitical risks and macroeconomic uncertainties have

fueled volatility in the markets, prompting investors and

portfolio managers to hedge their positions.

Average daily volumes in total company options increased to

14.83 million contracts in the quarter ended March 31 from 14.66

million a year earlier.

Net revenue from Cboe's options rose 10% to $307.4 million.

This helped its adjusted net income to grow to $227.7

million, or $2.15 per share, from $201.8 million, or $1.90 per

share, a year earlier.

Shares of the company were up about 1.9% in thin volumes

premarket.

Cboe said last month it plans to wind down operations of

Cboe Digital Spot Market, its spot trading platform for

cryptocurrencies, in the third quarter in a bid to refocus its

business, citing lack of regulatory clarity in the industry.

The company also plans to fully integrate its digital asset

derivatives business into its existing Global Derivatives and

Clearing businesses as a part of strategic review.

Its first-quarter net revenue rose 7% to $502.1 million from

a year earlier, while revenue from North America equities

dropped 1% to $92.6 million, compared with a 10% fall in the

segment in the previous quarter.