Nov 1 (Reuters) - Cboe Global Markets ( CBOE ) reported

a rise in third-quarter profit on Friday, driven by strong

options trading as investors actively hedged against

geopolitical and economic uncertainties.

A robust equities market, shifts in the U.S. Federal

Reserve's key policy rates and the potential economic fallout

from the conflict in the Middle East have investors and

portfolio managers on edge, prompting them to hedge their

positions.

Cboe'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 S&P 500 index options were also higher,

with third-quarter ADV increasing to 4.23 million contracts from

3.74 million contracts.

Cboe's third-quarter total revenue, less cost, rose 11% to

$532 million from a year earlier, while revenue from North

America equities rose 3% to $98 million.

The exchange operator's net income allocated to common

shareholders came in at $217.4 million, or $2.07 per share, in

the three months ended Sept. 30, compared with $207.1 million,

or $1.95 apiece in the year-ago period.

Cboe's shares have gained 19.6% so far in 2024,

outperforming peer CME Group ( CME ), but below the Nasdaq

and NYSE-parent Intercontinental Exchange ( ICE ).