Cboe Global Markets, Inc. (Cboe: CBOE), one of the world's largest exchange holding companies, today reported June monthly trading volume and provided selected revenue per contract (RPC) guidance for the second quarter of 2019.
The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of June and year-to-date trading statistics and market share by business segment, volume in select index products, and RPC, which is reported on a one-month lag, across business lines.
|
MONTHLY TRADING VOLUME |
Year-To-Date |
|||||||
|
June |
June |
% |
May |
% |
June |
June |
% |
|
|
2019 |
2018 |
Chg |
2019 |
Chg |
2019 |
2018 |
Chg |
|
|
OPTIONS (contracts, thousands) |
Year-To-Date |
|||||||
|
Trading Days |
20 |
21 |
22 |
124 |
125 |
|||
|
Total Volume |
141,989 |
148,155 |
-4.2% |
178,540 |
-20.5% |
888,274 |
1,008,700 |
-11.9% |
|
Total ADV |
7,099 |
7,055 |
0.6% |
8,115 |
-12.5% |
7,163 |
8,070 |
-11.2% |
|
FUTURES (contracts, thousands) |
Year-To-Date |
|||||||
|
Trading Days |
20 |
21 |
22 |
124 |
125 |
|||
|
Total Volume |
4,132 |
5,661 |
-27.0% |
7,514 |
-45.0% |
30,326 |
38,941 |
-22.1% |
|
Total ADV |
207 |
270 |
-23.4% |
342 |
-39.5% |
245 |
312 |
-21.5% |
|
U.S. EQUITIES (shares, millions) |
Year-To-Date |
|||||||
|
Trading Days |
20 |
21 |
22 |
124 |
125 |
|||
|
Total Volume |
22,039 |
27,028 |
-18.5% |
25,199 |
-12.5% |
142,148 |
172,938 |
-17.8% |
|
Total ADV |
1,102 |
1,287 |
-14.4% |
1,145 |
-3.8% |
1,146 |
1,384 |
-17.1% |
|
EUROPEAN EQUITIES (€ millions) |
Year-To-Date |
|||||||
|
Trading Days |
20 |
21 |
23 |
126 |
127 |
|||
|
Total Notional Value |
€ 157,399 |
€ 228,970 |
-31.3% |
€ 186,892 |
-15.8% |
€ 1,101,199 |
€ 1,353,588 |
-18.6% |
|
Total ADNV |
€ 7,870 |
€ 10,903 |
-27.8% |
€ 8,126 |
-3.1% |
€ 8,740 |
€ 10,658 |
-18.0% |
|
GLOBAL FX ($ millions) |
Year-To-Date |
|||||||
|
Trading Days |
20 |
21 |
23 |
128 |
129 |
|||
|
Total Notional Value |
$661,640 |
$793,695 |
-16.6% |
$760,188 |
-13.0% |
$4,414,111 |
$5,157,063 |
-14.4% |
|
Total ADNV |
$33,082 |
$37,795 |
-12.5% |
$33,052 |
0.1% |
$34,485 |
$39,977 |
-13.7% |
|
ADV= average daily volume |
|
ADNV= average daily notional value |
Mini-SPX Options Trading Records Set in June
The Cboe Mini-SPX option contract (ticker symbol XSP), is an index option product designed to track the underlying S&P 500 Index. Mini-SPX options trading set a new monthly record in June 2019 with more than 2.15 million contracts traded, surpassing the previous record set in May 2019of 1.55 million contracts. Average daily volume (ADV) also reached a new all-time high in June 2019with 107,745 contracts, up 50.8 percent from the previous high set in April 2019. Open interest for the product reached a new all-time high of 3.02 million contracts in June 2019, continuing the upward trend from May 2019's previous record of 2.35 million.
Mini-SPX options are 1/10th the size of the standard S&P 500 Index (SPX) options contract. Cboe lists Mini-SPX options on both Cboe Options Exchange and Cboe EDGX Options Exchange. For more information, visit www.cboe.com/XSP.
Second-Quarter 2019 Selected RPC Guidance
The company currently expects average RPC for total options and multi-listed options for the second quarter of 2019 to be in line with the amounts noted below for the two months ended May 31, 2019. RPC for index options for the second quarter is expected to be 0.5 percent to 1.0 percent above the two-month average noted below, reflecting a higher mix of SPX options contracts in June relative to the volume mix for the two months ended May 31, 2019. The RPC for futures for the second quarter is expected to be in 0.5 percent to 1.0 percent higher than the two-month average noted below, reflecting lower volume-related rebates in June. These expectations are estimated, preliminary and may change. There can be no assurance that our final RPC for the three months ended June 30, 2019, will not differ materially from these expectations.
The following represents average RPC based on a two-month and a three-month rolling average, reported on a one-month lag. The average RPC represents total transaction fees for Cboe, C2, BZX, EDGX Options Exchanges and Cboe Futures Exchange (CFE) recognized for the period divided by total contracts traded during the period. Average transaction fees per contract can be affected by various factors, including exchange fee rates, volume-based discounts and transaction mix by contract type and product type.
|
(In Dollars) |
Two- |
2Q19 Guidance |
Three-Months Ended |
|||
|
Product: |
May-19 |
May-19 |
Apr-19 |
Mar-18 |
Feb-18 |
|
|
Multiply-Listed Options (Cboe, C2, BZX, EDGX) |
$0.058 |
In line |
$0.059 |
$0.061 |
$0.067 |
$0.074 |
|
Index Options (Cboe and C2) |
$0.731 |
0.5% to 1.0% above |
$0.728 |
$0.724 |
$0.730 |
$0.745 |
|
Total Options Average Revenue Per Contract |
$0.239 |
In line |
$0.238 |
$0.233 |
$0.240 |
$0.262 |
|
Futures (CFE) |
$1.731 |
0.5% to 1.0% above |
$1.731 |
$1.761 |
$1.739 |
$1.735 |
Debt Repayment
The company stated that it repaid $300 million in aggregate principal amount of its 1.950% Senior Notes, maturing on June 28, 2019, with cash on hand.
