Cboe Global Markets Reports Trading Volume For December And Full Year 2019

• Cboe reports 2019 ADV growth for total options trading at C2 and EDGX Options Exchanges
• Cboe Mini-SPX (XSP) and FLEX options set new annual trading volume records
• Futures ADV up 3.7% and Global FX ADNV up 5% over November 2019

Cboe Global Markets, Inc. (Cboe: CBOE), one of the world's largest exchange holding companies, today reported December monthly and full-year 2019 trading volume, and provided selected revenue per contract (RPC) guidance for the fourth quarter of 2019.

The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of certain December and full-year 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.   

Trading Records Set in 2019
Several trading records were set for the year. ADV in total options trading at C2 Options Exchange (C2) reached a new all-time high in 2019 with more than 681,000 contracts, up nearly 13 percent from 2018. EDGX Options Exchange (EDGX) also set a trading record in 2019 with ADV of more than 531,000 contracts, up 12 percent from 2018.

ADV in Mini-SPX options trading set a new record in 2019 with more than 68,800 contracts, nearly three times higher than the previous record of roughly 19,400 contracts set in 2018. 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.

FLEX options trading at Cboe Options Exchange set a new record with more than 67,700 contracts trading per day, surpassing 2015's record of just over 18,800 contracts traded per day. FLEX Options, created by Cboe in 1993, offer investors the ability to customize a variety of contract terms. Cboe lists FLEX options on indexes, equities and exchange traded products (ETPs). For more information, visit www.cboe.com/products/flex-cflex.

Fourth-Quarter 2019 Selected RPC Guidance
The company currently expects RPC for total options for the fourth quarter of 2019 to be 0.5 to 1.5 percent higher than the amounts noted below for the two months ended November 30, 2019. The RPC for multi-listed options for the fourth quarter is expected to be 1.0 to 2.0 percent above the two-month average, reflecting a mix shift and lower volume-related rebates. The RPC for index options is expected to be in line with the two-month average noted below. The fourth-quarter options RPC also reflects a fee reclassification effective October 7, 2019, post the Cboe Options Exchange technology migration, which includes approximately $1.3 million of revenue now reported as transaction fees, with a corresponding decrease of $1.3 million in access and capacity fees due to the fee classification.  The RPC for futures is expected to be in line with the two-month average noted below. These expectations are estimated, preliminary and may change. There can be no assurance that our final RPC for the three months ended December 31, 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.