Is Cboe Global Markets (CBOE) stock halal?
Screened against AAOIFI Shari’ah Standard 21
No. Cboe Global Markets (CBOE) does not pass the AAOIFI Shari’ah Standard 21 screen. Prohibited income, interest included, is 45.9% of total revenue. AAOIFI’s limit is 5% (Shari'ah Standard 21, 3/4/4). Last checked 17 September 2026.
Cboe Global Markets is not compliant under Halal / Islamic guidelines
AAOIFI Shari’ah Standard 21 Financial Audit
Figures from the latest annual report (the SEC filing or, for European companies, the ESEF annual report, where one exists, checked against Yahoo Finance) and a 36-month average market value.
| Test | Standard Limit | Actual Figure | Status |
|---|---|---|---|
| Main business | — | — | Pass |
| Interest-bearing debt | 30% | 6.05% | Pass |
| Cash and interest-bearing investments | 30% | 9.44% | Pass |
| Prohibited income | 5% | 45.90% | Fail |
| Not just cash and debts | 90% | 28.41% | Pass |
Key Findings & Observations
- 44.9% of revenue comes from futures and options trading (a documented estimate: https://www.sec.gov/Archives/edgar/data/1374310/000162828026010013/cboe-20251231.htm).Source: Business check
- Prohibited income, interest included, is 45.9% of total revenue. AAOIFI’s limit is 5% (Shari'ah Standard 21, 3/4/4).Source: AAOIFI Shari'ah Standard 21
- Primary operations in options and futures trading raise concerns of gharar and maysir under Sharia law.Source: News Analyzer
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Frequently Asked Questions about Cboe Global Markets, Inc. (CBOE)
Is Cboe Global Markets (CBOE) stock halal?▾
No. Cboe Global Markets (CBOE) does not pass the AAOIFI Shari’ah Standard 21 screen. Prohibited income, interest included, is 45.9% of total revenue. AAOIFI’s limit is 5% (Shari'ah Standard 21, 3/4/4). Last checked 17 September 2026.
What is Cboe Global Markets's debt ratio under Islamic finance standards?▾
Under AAOIFI Shari’ah Standard 21, interest-bearing debt must stay under 30% of a company's 36-month average market value. Cboe Global Markets's ratio is about 6.0%.
How much dividend purification is required for Cboe Global Markets (CBOE) stock?▾
Cboe Global Markets does not pass the screen, so purification does not apply: the standard does not permit holding it.
Does Cboe Global Markets operate in prohibited business activities?▾
AAOIFI Shari’ah Standard 21 excludes companies whose main business is prohibited, such as alcohol, pork, gambling, conventional interest-based finance and adult entertainment. Cboe Global Markets's main business is checked against these. For companies that file with the US SEC, revenue by division is also read from the filing, so a division in a prohibited business is counted. Where the check cannot be settled, the result is shown as Needs Review rather than guessed.
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