- Second-Best Year for CBOE Holdings Volume
- CBOE Cash Index, SPX and VIX Options Set All-Time Annual Volume Records
- CFE and VIX Futures Set Volume Records for Fourth Straight Year
CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that 2013 marked its second-best year in total trading volume and average daily volume (ADV).
CBOE Holdings consolidated trading volume for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options ExchangeSM (C2SM) and futures contracts on CBOE Futures ExchangeSM (CFE®) totaled nearly 1.19 billion contracts. Average daily volume (ADV) in 2013 was 4.71 million contracts, an increase of four percent from 2012.
CBOE reported record ADV of 1.48 million contracts for its cash index options in 2013, an increase of 22 percent from a year earlier, led by record volume in CBOE'sS&P 500® Index options (SPXSM) and CBOE Volatility Index® (VIX Index®) options. SPX ADV was 823,369 contracts, a 19-percent increase from 2012, and VIX options ADV was 567,460 contracts, a 29-percent increase.
CBOE Futures Exchange reported its fourth consecutive year of record trading in VIX futures in 2013 when VIX futures ADV was 159,498 contracts, up 67 percent from 2012.
|
CBOE Holdings Consolidated Trading Volume |
Year-To-Date |
|||||||
|
(trades in thousands) |
Dec-13 |
Dec-12 |
% Chg |
Nov-13 |
% Chg |
Dec-13 |
Dec-12 |
% Chg |
|
Trading Days |
21 |
20 |
20 |
252 |
250 |
|||
|
Total Contracts (options & futures) |
94,805.6 |
78,594.1 |
21% |
91,904.6 |
3% |
1,187,642.6 |
1,134,316.7 |
5% |
|
Total Options Contracts (CBOE & C2) |
91,604.4 |
76,147.6 |
20% |
89,343.2 |
3% |
1,147,449.2 |
1,110,424.5 |
3% |
|
Total Futures Contracts (CFE) |
3,201.2 |
2,446.5 |
31% |
2,561.4 |
25% |
40,193.4 |
23,892.2 |
68% |
|
Total ADV (options & futures) |
4,514.5 |
3,929.7 |
15% |
4,595.3 |
-2% |
4,712.9 |
4,537.3 |
4% |
|
Total Options ADV (CBOE & C2) |
4,362.1 |
3,807.4 |
15% |
4,467.2 |
-2% |
4,553.4 |
4,441.7 |
3% |
|
Total Futures ADV (CFE) |
152.4 |
122.3 |
25% |
128.1 |
19% |
159.5 |
95.6 |
67% |
CBOE Trading Volume and Market Share
CBOE Volume:
- CBOE's 2013 ADV was 4.25 million contracts, even with 2012 ADV.
- December ADV was 4.09 million contracts, a 14-percent increase from December 2012 and a two-percent decrease from November 2013.
|
CBOE Trading Volume Current Month |
Year-To-Date |
|||||||
|
(trades in thousands) |
Dec-13 |
Dec-12 |
% Chg |
Nov-13 |
% Chg |
Dec-13 |
Dec-12 |
% Chg |
|
Trading Days |
21 |
20 |
20 |
252 |
250 |
|||
|
Total Exchange |
85,875.1 |
71,937.6 |
19% |
83,669.8 |
3% |
1,070,865.5 |
1,059,404.1 |
1% |
|
Total Exchange ADV |
4,089.3 |
3,596.9 |
14% |
4,183.5 |
-2% |
4,249.5 |
4,237.6 |
0% |
|
Equity Options |
35,579.9 |
27,931.0 |
27% |
38,089.9 |
-7% |
419,858.5 |
473,708.5 |
-11% |
|
Equity Options ADV |
1,694.3 |
1,396.5 |
21% |
1,904.5 |
-11% |
1,666.1 |
1,894.8 |
-12% |
|
Index Options |
29,487.0 |
25,628.9 |
15% |
25,911.5 |
14% |
372,455.6 |
302,878.7 |
23% |
|
Index Options ADV |
1,404.1 |
1,281.4 |
10% |
1,295.6 |
8% |
1,478.0 |
1,211.5 |
22% |
|
ETP Options |
20,808.2 |
18,377.8 |
13% |
19,668.5 |
6% |
278,551.4 |
282,816.9 |
-2% |
|
ETP Options ADV |
990.9 |
918.9 |
8% |
983.4 |
1% |
1,105.4 |
1,131.3 |
-2% |
Expanded December 2013 and full-year volume information for CBOE index and ETP options is available at: www.cboe.com/data/monthlyvolume.aspx.
CBOE Market Share:
CBOE's December market share of total U.S. options industry volume was 26.8 percent, an increase of 3.8 percentage points from December 2012 and an increase of 0.2 of a percentage point from November 2013.
|
CBOE Market Share Current Month |
Year-To-Date |
|||||||
|
Dec-13 |
Dec-12 |
% Pt. Chg |
Nov-13 |
% Pt. Chg |
Dec-13 |
Dec-12 |
% Pt. Chg |
|
|
Total Exchange |
26.8% |
23.0% |
3.8% |
26.6% |
0.2% |
26.0% |
26.5% |
-0.5% |
|
Equity Options |
19.8% |
16.8% |
3.0% |
19.9% |
-0.1% |
18.5% |
20.9% |
-2.4% |
|
Index Options |
97.6% |
94.9% |
2.7% |
97.5% |
0.1% |
96.6% |
94.1% |
2.5% |
|
ETP Options |
18.9% |
15.4% |
3.5% |
20.3% |
-1.4% |
19.2% |
20.0% |
-0.8% |
C2 Trading Volume and Market Share
|
C2 Trading Volume Current Month |
Year-To-Date |
|||||||
|
(trades in thousands) |
Dec-13 |
Dec-12 |
% Chg |
Nov-13 |
% Chg |
Dec-13 |
Dec-12 |
% Chg |
|
Trading Days |
21 |
20 |
20 |
252 |
250 |
|||
|
Total Exchange |
5,729.3 |
4,210.0 |
36% |
5,673.4 |
1% |
76,583.8 |
51,020.4 |
50% |
|
Total Exchange ADV |
272.8 |
210.5 |
30% |
283.7 |
-4% |
303.9 |
204.1 |
49% |
|
Equity Options |
641.6 |
1,815.1 |
-65% |
994.2 |
-35% |
14,627.6 |
20,594.5 |
-29% |
|
Equity Options ADV |
30.6 |
90.8 |
-66% |
49.7 |
-39% |
58.0 |
82.4 |
-30% |
|
Index Options* |
20.4 |
119.3 |
NM |
18.4 |
11% |
212.8 |
1,472.6 |
NM |
|
Index Options ADV* |
1.0 |
6.0 |
NM |
0.9 |
6% |
0.8 |
5.9 |
NM |
|
ETP Options |
5,067.3 |
2,275.7 |
123% |
4,660.8 |
9% |
61,743.4 |
28,953.3 |
113% |
|
ETP Options ADV |
241.3 |
113.8 |
112% |
233.0 |
4% |
245.0 |
115.8 |
112% |
*Russell 2000 Index options began trading on C2 on September 3, 2013. Prior period and year-to-date index options include SPXpmSM, which was moved to CBOE from C2 on February 17, 2013.
NM — not meaningful
C2 Volume:
- 2013 was a record volume year for C2. ADV was 303,900 contracts, a 49-percent increase from 2012.
- December ADV was 272,800 contracts — a 30-percent increase from December 2012 and a four-percent decrease from November 2013.
C2 Market Share:
|
C2 Market Share Current Month |
Year-To-Date |
|||||||
|
Dec-13 |
Dec-12 |
% Pt. Chg |
Nov-13 |
% Pt. Chg |
Dec-13 |
Dec-12 |
% Pt. Chg |
|
|
Total Exchange |
1.8% |
1.4% |
0.4% |
1.8% |
-- |
1.9% |
1.3% |
0.6% |
|
Equity Options |
0.4% |
1.1% |
-0.7% |
0.5% |
-0.1% |
0.6% |
0.9% |
-0.3% |
|
Index Options |
0.1% |
0.4% |
NM |
0.1% |
-- |
0.1% |
0.5% |
NM |
|
ETP Options |
4.6% |
1.9% |
2.7% |
4.8% |
-0.2% |
4.3% |
2.1% |
2.2% |
C2's December market share of total U.S. options industry volume was 1.8 percent, an increase of 0.4 of a percentage point from December 2012 and even withNovember 2013.
*Russell 2000 Index options began trading on C2 on September 3, 2013. Prior period and year-to-date index options include SPXpm, which was moved to CBOE from C2 on February 17, 2013.
NM — not meaningful
CBOE Futures Exchange Trading Volume
- In 2013, VIX futures achieved new records in daily, monthly, quarterly and annual volumes.
- The top ten highest volume trading months in CFE history all occurred during 2013.
- December VIX ADV was 152,155 contracts, a 25-percent increase from December 2012 and a 21-percent increase from November 2013.
CBOE Holdings Average Transaction Fee Per Contract
The following represents average transaction fee per contract based on a three-month rolling average, reported on a one-month lag. The average transaction fee 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: |
Nov-13 |
Oct-13 |
Sep-13 |
Aug-13 |
|
Equity Options |
$0.076 |
$0.076 |
$0.077 |
$0.081 |
|
Index Options |
$0.666 |
$0.666 |
$0.669 |
$0.671 |
|
ETP Options |
$0.126 |
$0.124 |
$0.123 |
$0.122 |
|
Total Options Average Revenue Per Contract |
$0.275 |
$0.278 |
$0.273 |
$0.278 |
|
Futures |
$1.561 |
$1.548 |
$1.559 |
$1.533 |
|
Total Average Revenue Per Contract |
$0.315 |
$0.320 |
$0.315 |
$0.321 |
