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- Total ADV of 4.3 Million Contracts, Unchanged from March 2015
- Index Options ADV of 1.7 Million Contracts, Up 35% from Year Ago
- VIX Futures ADV Up 7% from March 2015
CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that March 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 4.3 million contracts, relatively unchanged from March 2015 and a decrease of 7 percent from February 2016.
Trading Volume Highlights: March*
- Index options traded on CBOE had an ADV of 1.7 million contracts in March, an increase of 35 percent from March 2015.
- SPX Wednesday Weeklys reached an all-time daily volume high of 97,204 contracts on Wednesday, March 16. SPX Wednesday Weeklys were launched on February 23, and had an ADV of 63,064 contracts in March.
- CBOE Volatility Index® (VIX® Index) futures traded on CFE had a March ADV of 179,116 contracts, up 7 percent from a year ago.
- March VIX futures ADV in extended trading hours (from 2:00 a.m. to 8:15 a.m. CT) was 18,518 contracts, representing 10 percent of all CFE ADV for the month, compared to 8 percent in March 2015.
Business Developments: March
- CBOE began listing options on the FTSE 100 and FTSE China 50 Mini-Indexes on March 29, 2016,press release.
- Since March 21, CBOE has offered FLEX index options with Asian and Cliquet style settlement, press release.
- CBOE received two honors at the EQDerivatives Global Equity & Volatility Derivatives Awards onMarch 14 in New York City: "U.S. Exchange of the Year" and "Listed Product Launch of the Year" for VIX Weeklys futures and options, press release.
*Note: Beginning this month, March 2016, CBOE Holdings, Inc., will not publish a separate monthly volume release for the CBOE Futures Exchange (CFE). Complete volume data from all CBOE Holdings exchanges – Chicago Board Options Exchange (CBOE), C2 Options Exchange (C2) and CFE -- are included in this release.
CBOE Holdings Trading Volume Tables: March
|
CBOE Holdings Consolidated Trading Volume Current Month |
Year-To-Date |
|||||||
|
(contracts in thousands) |
Mar |
Mar |
% Chg |
Feb |
% |
Mar |
Mar |
% Chg |
|
Trading Days |
22 |
22 |
20 |
61 |
61 |
|||
|
Total Contracts |
95,332.4 |
94,937.1 |
--- |
92,922.1 |
3% |
291,24.0 |
290,684.3 |
--- |
|
Total Options Contracts |
91,391.6 |
91,248.7 |
--- |
88,829.6 |
3% |
278,047.3 |
279,255.7 |
--- |
|
Total Futures Contracts |
3,940.8 |
3,688.4 |
7% |
4,092.5 |
-4% |
13,201.7 |
11,428.6 |
16% |
|
Total ADV |
4,333.3 |
4,315.4 |
--- |
4,646.1 |
-7% |
4,774.6 |
4,765.4 |
--- |
|
Total Options ADV |
4,154.2 |
4,147.7 |
--- |
4,441.5 |
-6% |
4,558.2 |
4,578.0 |
--- |
|
Total Futures ADV |
179.1 |
167.7 |
7% |
204.6 |
-12% |
216.4 |
187.4 |
16% |
|
CBOE Trading Volume Current Month* |
Year-To-Date |
|||||||
|
(contracts in thousands) |
Mar |
Mar |
% Chg |
Feb |
% Chg |
Mar |
Mar |
% Chg |
|
Trading Days |
22 |
22 |
20 |
61 |
61 |
|||
|
Total Exchange |
85,398.0 |
84,445.3 |
1% |
82,336.5 |
4% |
258,571.9 |
259,654.0 |
--- |
|
Total Exchange ADV |
3,881.8 |
3,838.4 |
1% |
4,116.8 |
-6% |
4,238.9 |
4,256.6 |
--- |
|
Equity Options |
26,928.0 |
33,439.1 |
-19% |
27,002.0 |
--- |
83,345.5 |
104,671.8 |
-20% |
|
Equity Options ADV |
1,224.0 |
1,520.0 |
-19% |
1,350.1 |
-9% |
1,366.3 |
1,715.9 |
-20% |
|
Index Options |
37,502.9 |
27,682.4 |
35% |
34,599.2 |
8% |
109,728.5 |
85,159.8 |
29% |
|
Index Options ADV |
1,704.7 |
1,258.3 |
35% |
1,730.0 |
-1% |
1,798.8 |
1,396.1 |
29% |
|
ETP Options |
20,967.1 |
23,323.8 |
-10% |
20,735.3 |
1% |
65,497.8 |
69,822.3 |
-6% |
|
ETP Options ADV |
953.1 |
1,060.2 |
-10% |
1,036.8 |
-8% |
1,073.7 |
1,144.6 |
-6% |
*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) |
Mar |
Mar |
% Chg |
Feb |
% Chg |
Mar |
Mar |
% Chg |
|
Trading Days |
22 |
22 |
20 |
61 |
61 |
|||
|
Total Exchange |
5,993.5 |
6,803.4 |
-12% |
6,493.1 |
-8% |
19,475.4 |
19,601.7 |
-1% |
|
Total Exchange ADV |
272.4 |
309.2 |
-12% |
324.7 |
-16% |
319.3 |
321.3 |
-1% |
|
Equity Options |
1,704.0 |
1,923.0 |
-11% |
1,750.7 |
-3% |
5,060.6 |
5,618.5 |
-10% |
|
Equity Options ADV |
77.5 |
87.4 |
-11% |
87.5 |
-12% |
83.0 |
92.1 |
-10% |
|
Index Options |
235.1 |
72.5 |
224% |
247.4 |
-5% |
774.2 |
182.7 |
324% |
|
Index Options ADV |
10.7 |
3.3 |
224% |
12.4 |
-14% |
12.7 |
3.0 |
324% |
|
ETP Options |
4,054.4 |
4,807.8 |
-16% |
4,495.0 |
-10% |
13,640.6 |
13,800.5 |
-1% |
|
ETP Options ADV |
184.3 |
218.5 |
-16% |
224.7 |
-18% |
223.6 |
226.2 |
-1% |
|
CFE Monthly Volume Summary* |
Year-To-Date |
|||||||
|
Mar |
Mar |
% Chg |
Feb |
% Chg |
Mar |
Mar |
% |
|
|
Trading Days |
22 |
22 |
20 |
61 |
61 |
|||
|
VIX Index Futures |
||||||||
|
Total |
3,940,544 |
3,686,993 |
7% |
4,092,187 |
-4% |
13,200,620 |
11,420,107 |
16% |
|
ADV |
179,116 |
167,591 |
7% |
204,609 |
-12% |
216,404 |
187,215 |
16% |
|
CFE Total Exchange |
||||||||
|
Total |
3,940,812 |
3,688,432 |
7% |
4,092,473 |
-4% |
13,201,688 |
11,428,620 |
16% |
|
ADV |
179,128 |
167,656 |
7% |
204,624 |
-12% |
216,421 |
187,354 |
16% |
*Volume numbers for 2016 now include VIX Weeklys futures totals.
|
CBOE Holdings Market Share Current Month
(of total U.S. options industry volume)
|
Year-To-Date |
|||||||
|
Mar 2016 |
Mar 2015 |
% Pt. |
Feb 2016 |
% Pt. |
Mar 2016 |
Mar 2015 |
% Pt. |
|
|
Total Exchange |
26.3% |
27.1% |
-0.8% |
26.8% |
-0.5% |
26.6% |
28.1% |
-1.5% |
|
CBOE |
24.6% |
25.1% |
-0.5% |
24.8% |
-0.2% |
24.8% |
26.2% |
-1.4% |
|
C2 |
1.7% |
2.0% |
-0.3% |
2.0% |
-0.3% |
1.9% |
2.0% |
-0.1% |
|
Total Equity Options |
17.2% |
19.7% |
-2.5% |
17.8% |
-0.6% |
17.7% |
20.1% |
-2.4% |
|
Total Index Options |
99.1% |
96.3% |
2.8% |
98.9% |
0.2% |
99.0% |
96.3% |
2.7% |
|
Total ETF Options |
17.6% |
21.9% |
-4.3% |
18.7% |
-1.1% |
18.3% |
23.5% |
-5.2% |
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: |
Feb |
Jan |
Dec |
Nov |
|
Equity Options |
$0.092 |
$0.095 |
$0.097 |
$0.098 |
|
Index Options |
$0.733 |
$0.738 |
$0.726 |
$0.718 |
|
ETP Options |
$0.131 |
$0.138 |
$0.143 |
$0.144 |
|
Total Options Average Revenue Per Contract |
$0.351 |
$0.351 |
$0.349 |
$0.357 |
|
Futures |
$1.623 |
$1.636 |
$1.686 |
$1.686 |
|
Total Average Revenue Per Contract |
$0.413 |
$0.412 |
$0.408 |
$0.417 |
