- Total Volume of 82.8 Million Contracts
- Down 16% From October 2015, 3% From November 2014
- ADV of 4.1 Million Contracts
- Down 8% From October 2015 and November 2014
CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that total trading volume in November for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options Exchange (C2) and futures contracts on CBOE Futures Exchange (CFE®) was 82.8 million contracts, with an average daily volume (ADV) of 4.1 million contracts, decreases of 16 percent and 8 percent, respectively, from October 2015.
When compared to November 2014's 85.6 million total options and futures contracts and ADV of 4.5 million contracts, total volume and ADV during November 2015 declined 3 percent and 8 percent, respectively.
|
CBOE Holdings Consolidated Trading Volume Current Month |
Year-To-Date |
|||||||||
|
(contracts in thousands) |
Nov 2015 |
Nov 2014 |
% |
Oct 2015 |
% |
Nov 2015 |
Nov 2014 |
% |
||
|
Trading Days |
20 |
19 |
22 |
230 |
230 |
|||||
|
Total Contracts (options & futures) |
82,767.2 |
85,574.4 |
-3% |
98,841.0 |
-16% |
1,083,905.2 |
1,212,831.6 |
-11% |
||
|
Total Options Contracts (CBOE & C2) |
79,286.0 |
82,903.4 |
-4% |
94,842.3 |
-16% |
1,036,763.1 |
1,167,209.2 |
-11% |
||
|
Total Futures Contracts (CFE) |
3,481.2 |
2,671.0 |
30% |
3,998.7 |
-13% |
47,142.2 |
45,622.4 |
3% |
||
|
Total ADV (options & futures) |
4,138.4 |
4,503.9 |
-8% |
4,492.8 |
-8% |
4,712.6 |
5,273.2 |
-11% |
||
|
Total Options ADV (CBOE & C2) |
3,964.3 |
4,363.3 |
-9% |
4,311.0 |
-8% |
4,507.7 |
5,074.8 |
-11% |
||
|
Total Futures ADV (CFE) |
174.1 |
140.6 |
24% |
181.8 |
-4% |
205.0 |
198.4 |
3% |
||
CBOE Trading Volume and Market Share
CBOE Volume: November
- CBOE's ADV for the month was 3.7 million contracts and total volume was 74.2 million contracts, decreases of 8 percent and 16 percent, respectively, from October 2015. When compared to November 2014's ADV and total volume, November 2015 ADV declined 8 percent and total volume declined 4 percent.
- November ADV in equity options increased 4 percent from October 2015 and decreased 18 percent from November 2014.
- November ADV in index options decreased 15 percent from October 2015, but increased 14 percent from ADV in November 2014.
- November ADV in exchange-traded product (ETP) options decreased 15 percent from October 2015 and 19 percent versus November 2014.
- Expanded volume information for CBOE index and ETP options is available at:www.cboe.com/data/monthlyvolume.aspx.
|
CBOE Trading Volume Current Month |
Year-To-Date |
|||||||
|
(contracts in thousands) |
Nov 2015 |
Nov 2014 |
% |
Oct 2015 |
% |
Nov 2015 |
Nov 2014 |
% |
|
Trading Days |
20 |
19 |
22 |
230 |
230 |
|||
|
Total Exchange |
74,221.6 |
77,043.6 |
-4% |
88,809.9 |
-16% |
964,232.7 |
1,092,851.1 |
-12% |
|
Total Exchange ADV |
3,711.1 |
4,054.9 |
-8% |
4,036.8 |
-8% |
4,192.3 |
4,751.5 |
-12% |
|
Equity Options |
29,618.2 |
34,328.1 |
-14% |
31,210.1 |
-5% |
344,031.2 |
439,306.6 |
-22% |
|
Equity Options ADV |
1,480.9 |
1,806.7 |
-18% |
1,418.6 |
4% |
1,495.8 |
1,910.0 |
-22% |
|
Index Options |
28,813.2 |
24,112.6 |
19% |
37,271.9 |
-23% |
374,141.5 |
370,478.0 |
1% |
|
Index Options ADV |
1,440.7 |
1,269.1 |
14% |
1,694.2 |
-15% |
1,626.7 |
1,610.8 |
1% |
|
ETP Options |
15,790.2 |
18,602.9 |
-15% |
20,327.9 |
-22% |
246,060.0 |
283,066.5 |
-13% |
|
ETP Options ADV |
789.5 |
979.1 |
-19% |
924.0 |
-15% |
1,069.8 |
1,230.7 |
-13% |
CBOE Market Share: November
- CBOE's market share of total U.S. options industry volume was 23 percent in November, a decrease of 1.5 percentage points from October 2015 and 3.1 percentage points from November 2014.
|
CBOE Market Share Current Month |
Year-To-Date |
|||||||
|
Nov 2015 |
Nov 2014 |
% Pt. Chg |
Oct 2015 |
% Pt. Chg |
Nov 2015 |
Nov 2014 |
% Pt. Chg |
|
|
Total Exchange |
23.0% |
26.1% |
-3.1% |
24.5% |
-1.5% |
25.3% |
27.9% |
-2.6% |
|
Equity Options |
15.8% |
19.5% |
-3.7% |
16.3% |
-0.5% |
17.0% |
20.3% |
-3.3% |
|
Index Options |
97.7% |
97.2% |
0.5% |
98.0% |
-0.3% |
97.7% |
96.5% |
1.2% |
|
ETP Options |
14.9% |
19.7% |
-4.8% |
15.3% |
-0.4% |
17.5% |
20.7% |
-3.2% |
C2 Trading Volume and Market Share
C2 Volume: November
- C2's ADV for the month was 253,222 contracts and total volume was 5.1 million contracts, decreases of 8 percent and 16 percent, respectively, from October 2015.
- When compared to November 2014's ADV and total volume, November 2015 ADV declined 18 percent and total volume declined 14 percent.
|
C2 Trading Volume Current Month |
Year-To-Date |
|||||||
|
(contracts in thousands) |
Nov |
Nov |
% |
Oct 2015 |
% Chg |
Nov 2015 |
Nov 2014 |
% Chg |
|
Trading Days |
20 |
19 |
22 |
230 |
230 |
|||
|
Total Exchange |
5,064.4 |
5,859.9 |
-14% |
6,032.4 |
-16% |
72,530.4 |
74,358.1 |
-2% |
|
Total Exchange ADV |
253.2 |
308.4 |
-18% |
274.2 |
-8% |
315.3 |
323.3 |
-2% |
|
Equity Options |
1,430.8 |
1,063.5 |
35% |
1,928.8 |
-26% |
21,318.9 |
10,418.0 |
105% |
|
Equity Options ADV |
71.5 |
56.0 |
28% |
87.7 |
-18% |
92.7 |
45.3 |
105% |
|
Index Options |
187.8 |
46.2 |
307% |
195.8 |
-4% |
1,573.3 |
478.3 |
229% |
|
Index Options ADV |
9.4 |
2.4 |
286% |
8.9 |
5% |
6.8 |
2.1 |
229% |
|
ETP Options |
3,445.9 |
4,750.2 |
-27% |
3,907.7 |
-12% |
49,638.3 |
63,461.8 |
-22% |
|
ETP Options ADV |
172.3 |
250.0 |
-31% |
177.6 |
-3% |
215.8 |
275.9 |
-22% |
C2 Market Share: November
- C2's market share of total industry volume in November was 1.6 percent, a decrease of 0.1 percentage points from October 2015 and 0.4 percentage points from November 2014.
|
C2 Market Share Current Month |
Year-To-Date |
|||||||
|
Nov 2015 |
Nov 2014 |
% Pt. Chg |
Oct 2015 |
% Pt. Chg |
Nov 2015 |
Nov 2014 |
% Pt. Chg |
|
|
Total Exchange |
1.6% |
2.0% |
-0.4% |
1.7% |
-0.1% |
1.9% |
1.9% |
-- |
|
Equity Options |
0.8% |
0.6% |
0.2% |
1.0% |
-0.2% |
1.1% |
0.5% |
0.6% |
|
Index Options |
0.6% |
0.2% |
0.4% |
0.5% |
0.1% |
0.4% |
0.1% |
0.3% |
|
ETP Options |
3.3% |
5.0% |
-1.7% |
2.9% |
0.4% |
3.5% |
4.6% |
-1.1% |
CBOE Futures Exchange (CFE) Trading Volume
CFE Volume: November
- Total ADV at CFE was 174,061 contracts in November, an increase of 24 percent from November 2014and a decrease of 4 percent from October 2015. Total volume at CFE for the month was 3.5 million contracts, up 30 percent from total volume a year ago and down 13 percent from October 2015.
- Total volume in CBOE Volatility Index® (VIX® Index) futures for November was 3.5 million contracts, down 13 percent from October 2015 and up 30 percent from November 2014. November VIX futures' ADV was 173,790 contracts.
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: |
Oct 2015 |
Sept |
Aug 2015 |
July 2015 |
|
Equity Options |
$0.105 |
$0.106 |
$0.104 |
$0.098 |
|
Index Options |
$0.706 |
$0.709 |
$0.703 |
$0.702 |
|
ETP Options |
$0.146 |
$0.143 |
$0.133 |
$0.123 |
|
Total Options Average Revenue Per Contract |
$0.370 |
$0.368 |
$0.352 |
$0.328 |
|
Futures |
$1.662 |
$1.647 |
$1.661 |
$1.712 |
|
Total Average Revenue Per Contract |
$0.432 |
$0.431 |
$0.416 |
$0.391 |
