Cboe Global Markets sees FY19 adjusted operating expenses $420M-$428M
Adjusted operating expenses FY19 outlook represents a projected decline of 2% to a nominal increase compared to 2018's adjusted operating expenses of $426.M. The guidance excludes the amortization of acquired intangible assets of $138M, which the company plans to include in its non-GAAP reconciliation. Depreciation and amortization expense, which is included in adjusted operating expenses above, is expected to be in the range of $35M-$40M, excluding the amortization of acquired intangible assets of $138M. Sees FY19 effective tax rate on adjusted earnings 27%-29%. Significant changes in trading volume, expenses, federal, state and local tax laws or rates and other items could materially impact this expectation. Sees FY19 Capital expenditures $50M-$55M.