{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"LOGO Quicktakes","title":"CME & CBOE The House Always Wins.","html":"","width":"100%","height":180,"duration":359,"description":"CME Group and Cboe Global Markets represent the financial market equivalent of toll roads, collecting fees every time investors, institutions, hedge funds, or corporations trade, hedge, or speculate across global markets. These businesses sit at the center of rising volatility, growing derivatives usage, and the increasing complexity of global finance, benefiting whether markets rise, fall, or simply become more active. CME dominates futures and interest-rate trading globally, making it a major beneficiary of inflation volatility, shifting Federal Reserve expectations, commodity swings, and macro uncertainty. Cboe owns some of the most important options exchanges in the world, including the VIX ecosystem, and benefits from the structural growth in retail options trading, institutional hedging, and volatility products. Both companies possess extraordinary competitive moats because liquidity tends to concentrate on dominant exchanges, creating network effects that are incredibly difficult to replicate. Recent market pullbacks and concerns around slowing trading activity may be obscuring the larger long-term trend that modern markets are becoming more hedged, more algorithmic, more volatile, and increasingly dependent on derivatives infrastructure. For long-term portfolios, CME and Cboe offer a rare combination of recurring fee-based revenue, high margins, strong free cash flow, and durable participation in the continued financialization of the global economy.Important InformationInvestors should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. This and other information can be found in the Fund’s statutory and summary prospectuses, which may be obtained at LogoETF.com. Read the prospectus carefully before investing. ","thumbnail_url":"https://img.transistorcdn.com/R4VvMu_F-xl5HoXkpa6EENzVY4NVOEPav505vjIpcwg/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS84OTI5/MGMyYTczNTViYjFm/MWI4YjU3MDMyYTRj/NmM4MS5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}