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- Index Options ADV of 1.5 Million Contracts, Up 15% from 2015
- VIX Futures ADV Up 36% from April 2015
- SPX Options ADV Up 9% from April 2015
- Total ADV of 4.2 Million Contracts, Down 4% from April 2015
CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that April average daily volume (ADV) for options contracts traded on Chicago Board Options Exchange® (CBOE®) and C2 Options Exchange (C2), and futures contracts traded on CBOE Futures Exchange (CFE®) was 4.2 million contracts, a decrease of 4 percent from April 2015 and March 2016.
Trading Volume Highlights: April
- Index options traded at CBOE had an ADV of 1.5 million contracts in April, an increase of 15 percent from April 2015.
- S&P 500® Index (SPX) options were the most actively-traded index option for the month with an ADV of 818,243 contracts, up 9 percent from the 751,515 contracts traded in April 2015.
- CBOE Volatility Index® (VIX® Index) options at CBOE had an April ADV of 561,491 contracts, up 29 percent from the 435,659 contracts traded in April 2015.
- VIX futures traded on CFE had an April ADV of 219,282 contracts, up 36 percent from a year ago.
- April VIX futures ADV in extended trading hours (ETH) at CFE was 22,491 contracts, representing 10 percent of all CFE ADV for the month, compared to 9 percent in April 2015.
- SPX and VIX options in ETH at CBOE had an April ADV of 3,194 contracts, up from 1,286 contracts inApril 2015.
Business Developments: April
- On April 28, CBOE announced the launch of a new website, CBOE Livevol Data Shop, which offers clients a full suite of uniquely customizable market data sets, press release.
- Stellar Trading Systems, a multi-asset trading software and services specialist, established connectivity with CFE as an approved independent software vendor on April 21, press release.
- CBOE began overnight dissemination of the VIX Index on April 15, press release.
- Since April 1, CBOE has provided daily values on 13 "Buffer Protect Indexes," which measure the performance of a hypothetical portfolio of S&P 500 Index (SPX) FLexible EXchange® (FLEX) options designed to provide annual targeted returns, press release.
CBOE Holdings Trading Volume Tables: April
|
CBOE Holdings Consolidated Trading Volume Current Month |
Year-To-Date |
|||||||
|
(contracts in thousands) |
Apr |
Apr |
% |
Mar |
% |
Apr |
Apr |
% |
|
Trading Days |
21 |
21 |
22 |
82 |
82 |
|||
|
Total Contracts (options & futures) |
87,810.2 |
91,426.5 |
-4% |
95,332.4 |
-8% |
379,059.1 |
382,110.7 |
-1% |
|
Total Options Contracts (CBOE & C2) |
83,204.7 |
88,040.5 |
-5% |
91,391.6 |
-9% |
361,252.0 |
367,296.1 |
-2% |
|
Total Futures Contracts (CFE) |
4,605.5 |
3,385.9 |
36% |
3,940.8 |
17% |
17,807.2 |
14,814.6 |
20% |
|
Total ADV (options & futures) |
4,181.4 |
4,353.6 |
-4% |
4,333.3 |
-4% |
4,622.7 |
4,659.9 |
-1% |
|
Total Options ADV (CBOE & C2) |
3,962.1 |
4,192.4 |
-5% |
4,154.2 |
-5% |
4,405.5 |
4,479.2 |
-2% |
|
Total Futures ADV (CFE) |
219.3 |
161.2 |
36% |
179.1 |
22% |
217.2 |
180.7 |
20% |
|
CBOE Trading Volume Current Month* |
Year-To-Date |
|||||||
|
(contracts in thousands) |
Apr |
Apr |
% |
Mar |
% |
Apr |
Apr |
% |
|
Trading Days |
21 |
21 |
22 |
82 |
82 |
|||
|
Total Exchange |
77,144.5 |
81,067.7 |
-5% |
85,398.0 |
-10% |
335,716.4 |
340,721.7 |
-1% |
|
Total Exchange ADV |
3,673.5 |
3,860.4 |
-5% |
3,881.7 |
-5% |
4,094.1 |
4,155.1 |
-1% |
|
Equity Options |
28,451.0 |
33,421.0 |
-15% |
26,928.0 |
6% |
111,796.5 |
138,092.9 |
-19% |
|
Equity Options ADV |
1,354.8 |
1,591.5 |
-15% |
1,224.0 |
11% |
1,363.4 |
1,684.1 |
-19% |
|
Index Options |
30,753.8 |
26,778.4 |
15% |
37,502.9 |
-18% |
140,482.4 |
111,938.2 |
25% |
|
Index Options ADV |
1,464.5 |
1,275.2 |
15% |
1,704.7 |
-14% |
1,713.2 |
1,365.1 |
25% |
|
ETP Options |
17,939.7 |
20,868.3 |
-14% |
20,967.1 |
-14% |
83,437.5 |
90,690.6 |
-8% |
|
ETP Options ADV |
854.3 |
993.7 |
-14% |
953.1 |
-10% |
1,017.5 |
1,106.0 |
-8% |
*Expanded volume information for CBOE index and ETP options is available at:www.cboe.com/data/monthlyvolume.aspx.
|
C2 Trading Volume Current Month |
Year-To-Date |
|||||||
|
(contracts in thousands) |
Apr |
Apr |
% |
Mar |
% |
Apr |
Apr |
% |
|
Trading Days |
21 |
21 |
22 |
82 |
82 |
|||
|
Total Exchange |
6,060.2 |
6,972.8 |
-13% |
5,993.5 |
1% |
25,535.6 |
26,574.5 |
-4% |
|
Total Exchange ADV |
288.6 |
332.0 |
-13% |
272.4 |
6% |
311.4 |
324.1 |
-4% |
|
Equity Options |
1,817.7 |
2,473.6 |
-27% |
1,704.0 |
7% |
6,878.2 |
8,092.1 |
-15% |
|
Equity Options ADV |
86.6 |
117.8 |
-27% |
77.5 |
12% |
83.9 |
98.7 |
-15% |
|
Index Options |
199.3 |
129.8 |
54% |
235.1 |
-15% |
973.6 |
312.5 |
212% |
|
Index Options ADV |
9.5 |
6.2 |
54% |
10.7 |
-11% |
11.9 |
3.8 |
212% |
|
ETP Options |
4,043.2 |
4,369.3 |
-7% |
4,054.4 |
--- |
17,683.8 |
18,169.8 |
-3% |
|
ETP Options ADV |
192.5 |
208.1 |
-7% |
184.3 |
4% |
215.7 |
221.6 |
-3% |
|
CFE Trading Volume Current Month* |
Year-To-Date |
|||||||
|
Apr |
Apr |
% |
Mar |
% |
Apr |
Apr |
% |
|
|
Trading Days |
21 |
21 |
22 |
82 |
82 |
|||
|
VIX Index Futures |
||||||||
|
Total |
4,604,918 |
3,384,298 |
36% |
3,940,544 |
17% |
17,805,538 |
14,804,405 |
20% |
|
ADV |
219,282 |
161,157 |
36% |
179,116 |
22% |
217,141 |
180,542 |
20% |
|
CFE Total Exchange |
||||||||
|
Total |
4,605,471 |
3,385,940 |
36% |
3,940,812 |
17% |
17,807,159 |
14,814,560 |
20% |
|
ADV |
219,308 |
161,235 |
36% |
179,128 |
22% |
217,160 |
180,665 |
20% |
*Volume numbers for 2016 now include VIX Weeklys futures totals.
|
CBOE Holdings Market Share Current Month |
Year-To-Date |
|||||||
|
Apr |
Apr |
% Pt. |
Mar |
% Pt. |
Apr |
Apr |
% Pt. |
|
|
Total Exchange (CBOE & C2) |
25.1% |
26.9% |
-1.8% |
26.3% |
-1.2% |
26.3% |
27.8% |
-1.5% |
|
CBOE |
23.2% |
24.7% |
-1.5% |
24.6% |
-1.4% |
24.4% |
25.8% |
-1.4% |
|
C2 |
1.8% |
2.1% |
-0.3% |
1.7% |
0.1% |
1.9% |
2.0% |
-0.1% |
|
Total Equity Options (CBOE & C2) |
17.2% |
18.9% |
-1.7% |
17.2% |
--- |
17.6% |
19.8% |
-2.2% |
|
Total Index Options (CBOE & C2) |
99.1% |
98.7% |
0.4% |
99.1% |
--- |
99.0% |
96.8% |
2.2% |
|
Total ETF Options (CBOE & C2) |
17.6% |
22.9% |
-5.3% |
17.6% |
--- |
18.1% |
23.4% |
-5.3% |
CBOE Holdings Average Revenue Per Contract
The following represents average revenue per contract based on a three-month rolling average, reported on a one-month lag. The average revenue per contract represents total transaction fees for CBOE, C2 and 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) |
Three-Month Period Ended |
|||
|
Product: |
Mar |
Feb |
Jan |
Dec |
|
Equity Options |
$0.085 |
$0.092 |
$0.095 |
$0.097 |
|
Index Options |
$0.720 |
$0.733 |
$0.738 |
$0.726 |
|
ETP Options |
$0.117 |
$0.131 |
$0.138 |
$0.143 |
|
Total Options Average Revenue Per Contract |
$0.346 |
$0.351 |
$0.351 |
$0.349 |
|
Futures |
$1.643 |
$1.623 |
$1.636 |
$1.686 |
|
Total Average Revenue Per Contract |
$0.405 |
$0.413 |
$0.412 |
$0.408 |
