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- Total Volume of 106.5 Million Contracts Up 7% From June, Down 2% From Year Ago
- ADV of 4.8 Million Contracts, Up 7% From June,
Down 2% From Year Ago
CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that total trading volume in July for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options Exchange (C2) and futures contracts on CBOE Futures Exchange (CFE®) was 106.5 million contracts, an increase of 7 percent from June 2015 and a decrease of 2 percent from July 2014.
Total options and futures average daily volume (ADV) at CBOE Holdings for July was 4.8 million contracts, an increase of 7 percent from June 2015 and a decrease of 2 percent from July 2014.
|
CBOE Holdings Consolidated Trading Volume |
Year-To-Date |
|||||||
|
(Contracts in thousands) |
July |
July |
% Chg |
June |
% Chg |
July |
July |
% Chg |
|
Trading Days |
22 |
22 |
|
22 |
|
146 |
146 |
|
|
Total Contracts (options & futures) |
106,476.4 |
108,885.7 |
-2% |
99,180.8 |
7% |
673,054.8 |
756,133.3 |
-11% |
|
Total Options Contracts |
101,457.7 |
104,543.6 |
-3% |
94,539.0 |
7% |
645,080.3 |
728,965.7 |
-12% |
|
Total Futures Contracts |
5,018.7 |
4,342.1 |
16% |
4,641.8 |
8% |
27,974.5 |
27,167.6 |
3% |
|
|
|
|
|
|
|
|
|
|
|
Total ADV |
4,839.8 |
4,949.4 |
-2% |
4,508.2 |
7% |
4,610.0 |
5,179.0 |
-11% |
|
Total Options ADV |
4,611.7 |
4,752.0 |
-3% |
4,297.2 |
7% |
4,418.4 |
4,992.9 |
-12% |
|
Total Futures ADV |
228.1 |
197.4 |
16% |
211.0 |
8% |
191.6 |
186.1 |
3% |
CBOE Trading Volume and Market Share
CBOE Volume: July
- CBOE’s ADV for the month was 4.3 million contracts, up 7 percent from June 2015 and down 4 percent from July 2014. Exchangewide trading volume totaled 93.9 million contracts, an increase of 7 percent from the previous month and a decrease of 4 percent from a year ago.
- July ADV in index options rose 8 percent, exchange-traded product (ETP) options increased 3 percent, and equity options increased 10 percent from June 2015.
- 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) |
July |
July |
% Chg |
June |
% Chg |
July |
July |
% Chg |
|
Trading Days |
22 |
22 |
|
22 |
|
146 |
146 |
|
|
Total Exchange |
93,889.8 |
97,665.5 |
-4% |
87,656.2 |
7% |
597,580.4 |
685,679.9 |
-13% |
|
Total Exchange ADV |
4,267.7 |
4,439.3 |
-4% |
3,984.4 |
7% |
4,093.0 |
4,696.4 |
-13% |
|
Equity Options |
31,497.6 |
42,011.1 |
-25% |
28,686.0 |
10% |
226,249.5 |
282,918.5 |
-20% |
|
Equity Options ADV |
1,431.7 |
1,909.6 |
-25% |
1,303.9 |
10% |
1,549.7 |
1,937.8 |
-20% |
|
Index Options |
38,387.4 |
31,527.7 |
22% |
35,564.6 |
8% |
214,161.4 |
230,772.5 |
-7% |
|
Index Options ADV |
1,744.9 |
1,433.1 |
22% |
1,616.6 |
8% |
1,466.9 |
1,580.6 |
-7% |
|
ETP Options |
24,004.8 |
24,126.7 |
-1% |
23,405.6 |
3% |
157,169.6 |
171,988.8 |
-9% |
|
ETP Options ADV |
1,091.1 |
1,096.7 |
-1% |
1,063.9 |
3% |
1,076.5 |
1,178.0 |
-9% |
CBOE Market Share: July
- CBOE’s market share of total U.S. options industry volume was 24.8 percent in July, a decrease of 1.4 percentage points from June 2015 and a decrease of 2.7 percentage points from July 2014.
|
CBOE Market Share Current Month |
Year-To-Date |
|||||||
|
|
July 2015 |
July 2014 |
% Pt. Chg |
June 2015 |
% Pt. Chg |
July 2015 |
July 2014 |
% Pt. Chg |
|
Total Exchange |
24.8% |
27.5% |
-2.7% |
26.2% |
-1.4% |
25.6% |
28.1% |
-2.5% |
|
Equity Options |
15.6% |
20.0% |
-4.4% |
16.8% |
-1.2% |
17.7% |
20.7% |
-3.0% |
|
Index Options |
98.3% |
95.5% |
2.8% |
98.6% |
-0.3% |
97.5% |
96.5% |
1.0% |
|
ETP Options |
17.4% |
21.6% |
-4.2% |
18.3% |
-0.9% |
18.8% |
20.7% |
-1.9% |
C2 Trading Volume and Market Share
C2 Volume: July
- C2’s July trading volume totaled 7.6 million contracts, an increase of 10 percent from June 2015 and an increase of 10 percent from July 2014. ADV was 343,996 contracts, a 10-percent increase from June 2015 and a 10-percent increase from July 2014.
|
C2 Trading Volume Current Month |
Year-To-Date |
|||||||
|
(contracts in thousands) |
July 2015 |
July 2014 |
% Chg |
June |
% Chg |
July |
July |
% Chg |
|
Trading Days |
22 |
22 |
|
22 |
|
146 |
146 |
|
|
Total Exchange |
7,567.9 |
6,878.1 |
10% |
6,882.8 |
10% |
47,499.9 |
43,285.9 |
10% |
|
Total Exchange ADV |
344.0 |
312.6 |
10% |
312.9 |
10% |
325.3 |
296.5 |
10% |
|
Equity Options |
2,210.5 |
985.4 |
124% |
1,891.3 |
17% |
14,133.5 |
5,896.3 |
140% |
|
Equity Options ADV |
100.5 |
44.8 |
124% |
86.0 |
17% |
96.8 |
40.4 |
140% |
|
Index Options |
180.1 |
40.3 |
347% |
168.3 |
7% |
798.8 |
249.0 |
221% |
|
Index Options ADV |
8.2 |
1.8 |
347% |
7.7 |
7% |
5.5 |
1.7 |
221% |
|
ETP Options |
5,177.3 |
5,852.4 |
-12% |
4,823.2 |
7% |
32,567.6 |
37,140.6 |
-12% |
|
ETP Options ADV |
235.3 |
266.0 |
-12% |
219.2 |
7% |
223.1 |
254.4 |
-12% |
C2 Market Share: July
- C2 market share of total industry volume in July was 2.0 percent, a decrease of 0.1 percentage points from June 2015 and up 0.1 of a percentage point from July 2014.
|
C2 Market Share Current Month |
Year-To-Date |
|||||||
|
|
July 2015 |
July 2014 |
% Pt. Chg |
June 2015 |
% Pt. Chg |
July 2015 |
July 2014 |
% Pt. Chg |
|
Total Exchange |
2.0% |
1.9% |
0.1% |
2.1% |
-0.1% |
2.0% |
1.8% |
0.2% |
|
Equity Options |
1.1% |
0.5% |
0.6% |
1.1% |
-- |
1.1% |
0.4% |
0.7% |
|
Index Options |
0.5% |
0.1% |
0.4% |
0.5% |
-- |
0.4% |
0.1% |
0.3% |
|
ETP Options |
3.8% |
5.2% |
-1.4% |
3.8% |
-- |
3.9% |
4.5% |
-0.6% |
CBOE Futures Exchange (CFE) Trading Volume
CFE Volume: July
- Total ADV at CFE was 228,123 contracts in July, an 8-percent increase from June 2015 and up 16 percent from July 2014. Total volume at CFE during the month was 5.0 million contracts, an increase of 8 percent from the previous month and 16 percent from the year-ago total.
- July average daily volume in CBOE Volatility Index® (VIX® Index) futures was 227,970 contracts, an increase of 8 percent from June 2015 and up 16 percent from July 2014. Total volume in VIX futures for July was 5.0 million contracts, an increase of 8 percent from the previous month and 16 percent from a year ago.
- July’s total and average daily volumes for VIX futures rank second in terms of all-time monthly records, trailing only the 7.4 million total and 323,761 ADV traded in October 2014.
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: |
Jun-15 |
May-15 |
Apr-15 |
Mar-15 |
|
Equity Options |
$0.093 |
$0.087 |
$0.077 |
$0.077 |
|
Index Options |
$0.697 |
$0.701 |
$0.707 |
$0.712 |
|
ETP Options |
$0.117 |
$0.114 |
$0.115 |
$0.118 |
|
Total Options Average Revenue Per Contract |
$0.308 |
$0.290 |
$0.280 |
$0.284 |
|
Futures |
$1.758 |
$1.775 |
$1.762 |
$1.705 |
|
Total Average Revenue Per Contract |
$0.368 |
$0.348 |
$0.336 |
$0.340 |
