May 3 (Reuters) - Cboe Global Markets 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.
Cboe's adjusted net income climbed to $227.7 million, or $2.15 per share, from $201.8 million, or $1.90 per share, a year earlier. (Reporting by Pritam Biswas in Bengaluru; Editing by Shinjini Ganguli)
