Aug 1 (Reuters) - Derivatives exchange Cboe Global

Markets ( CBOE ) beat Wall Street estimates for second-quarter

profit on Friday, as looming economic uncertainties fueled

market turmoil and boosted options trading.

Investors and portfolio managers rushed to hedge their

positions during the period, responding to a spike in market

volatility fueled by renewed geopolitical tensions in the Middle

East and unpredictable tariff policies.

Cboe's options trading business revenue jumped 19% to $364.8

million, while Europe and Asia-Pacific revenue climbed 30% to

$70 million.

The company has "achieved another quarter of record net

revenue and strong adjusted earnings growth, highlighting the

durability across our exchange ecosystem", said Chief Financial

Officer Jill Griebenow.

Cboe wrapped up a strong quarter for U.S. exchanges such as

CME Group ( CME ), Nasdaq and Intercontinental Exchange ( ICE )

. Heightened market volatility lifted trading volumes,

marking a robust period of activity for the industry.

Average daily volume in index options hit 4.7 million

contracts during the quarter ended June 30, compared with 4

million a year earlier.

Cboe's adjusted net income rose to $257.8 million, or $2.46

per share, from $226.2 million, or $2.15 per share, a year

earlier. Analysts on average estimated $2.42 per share,

according to data compiled by LSEG.

The company's net revenue rose 14% to a record high of

$587.3 million, also beating the estimate of $576.2 million.

Last week, Cboe announced plans to wind down its Japanese

equities business, citing challenges to financial

sustainability.

Its shares have risen 23.4% this year, compared with a gain

of 19.8% and 24%, for CME and NYSE-parent Intercontinental

Exchange ( ICE ), respectively.