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- Total Volume of 98.8 Million Contracts
- Down 5% From September, 39% From Record October 2014
- ADV of 4.5 Million Contracts
- Down 9% From September, 37% From Record October 2014
CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that total trading volume in October for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options Exchange (C2) and futures contracts on CBOE Futures Exchange (CFE®) was 98.8 million contracts, with an average daily volume (ADV) of 4.5 million contracts, decreases of 5 percent and 9 percent, respectively, from September 2015.
When compared to the October 2014 records of 163.1 million total options and futures contracts and ADV of 7.1 million contracts, total volume and ADV during October 2015 declined 39 percent and 37 percent, respectively.
|
CBOE Holdings Consolidated Trading Volume Current Month |
Year-To-Date |
|||||||||
|
(Contracts in thousands) |
Oct 2015 |
Oct 2014 |
% Chg |
Sept 2015 |
% Chg |
Oct 2015 |
Oct 2014 |
% Chg |
||
|
Trading Days |
22 |
23 |
21 |
210 |
211 |
|||||
|
Total Contracts (options & futures) |
98,841.0 |
163,075.5 |
-39% |
103,998.7 |
-5% |
1,001,138.0 |
1,127,257.1 |
-11% |
||
|
Total Options Contracts (CBOE & C2) |
94,842.3 |
155,616.8 |
-39% |
98,719.8 |
-4% |
957,477.1 |
1,084,305.7 |
-12% |
||
|
Total Futures Contracts (CFE) |
3,998.7 |
7,458.7 |
-46% |
5,278.9 |
-24% |
43,660.9 |
42,951.4 |
2% |
||
|
Total ADV |
4,492.8 |
7,090.2 |
-37% |
4,952.3 |
-9% |
4,767.3 |
5,342.5 |
-11% |
||
|
Total Options ADV (CBOE & C2) |
4,311.0 |
6,765.9 |
-36% |
4,700.9 |
-8% |
4,559.4 |
5,138.9 |
-11% |
||
|
Total Futures ADV (CFE) |
181.8 |
324.3 |
-44% |
251.4 |
-28% |
207.9 |
203.6 |
2% |
||
CBOE Trading Volume and Market Share
CBOE Volume: October
- CBOE's ADV for the month was 4.0 million contracts and total volume was 88.8 million contracts, decreases of 8 percent and 4 percent, respectively, from September 2015. When compared to October 2014's records in ADV and total volume, October 2015 ADV declined 36 percent and total volume declined 39 percent.
- October ADV in equity options increased 16 percent from September 2015 and decreased 33 percent from October 2014.
- October ADV in exchange-traded product (ETP) options decreased 21 percent from September 2015and 51 percent versus October 2014.
- October ADV in index options decreased 16 percent from September 2015 and 26 percent from the record ADV in October 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) |
Oct 2015 |
Oct 2014 |
% Chg |
Sept 2015 |
%Chg |
Oct |
Oct |
%Chg |
|
Trading Days |
22 |
23 |
21 |
210 |
211 |
|||
|
Total Exchange |
88,809.9 |
144,549.1 |
-39% |
92,552.0 |
-4% |
890,011.1 |
1,015,807.6 |
-12% |
|
Total Exchange ADV |
4,036.8 |
6,284.7 |
-36% |
4,407.2 |
-8% |
4,238.1 |
4,814.3 |
-12% |
|
Equity Options |
31,210.1 |
48,592.1 |
-36% |
25,793.2 |
21% |
314,413.0 |
404,978.5 |
-22% |
|
Equity Options ADV |
1,418.6 |
2,112.7 |
-33% |
1,228.2 |
16% |
1,497.2 |
1,919.3 |
-22% |
|
Index Options |
37,271.9 |
52,751.9 |
-29% |
42,159.6 |
-12% |
345,328.3 |
346,365.4 |
0% |
|
Index Options ADV |
1,694.2 |
2,293.6 |
-26% |
2,007.6 |
-16% |
1,644.4 |
1,641.5 |
0% |
|
ETP Options |
20,327.9 |
43,205.1 |
-53% |
24,599.3 |
-17% |
230,269.8 |
264,463.7 |
-13% |
|
ETP Options ADV |
924.0 |
1,878.5 |
-51% |
1,171.4 |
-21% |
1,096.5 |
1,253.4 |
-13% |
CBOE Market Share: October
- CBOE's market share of total U.S. options industry volume was 24.5 percent in October, a decrease of 1.6 percentage points from September 2015 and 4.9 percentage points from October 2014.
|
CBOE Market Share Current Month |
Year-To-Date |
|||||||
|
Oct 2015 |
Oct 2014 |
% Pt. Chg |
Sept 2015 |
% Pt. Chg |
Oct 2015 |
Oct 2014 |
% Pt. Chg |
|
|
Total Exchange |
24.5% |
29.4% |
-4.9% |
26.1% |
-1.6% |
25.6% |
28.1% |
-2.5% |
|
Equity Options |
16.3% |
20.6% |
-4.3% |
16.4% |
0.1% |
17.2% |
20.4% |
-3.2% |
|
Index Options |
98.0% |
96.7% |
1.3% |
98.4% |
-0.4% |
97.7% |
96.5% |
1.2% |
|
ETP Options |
15.3% |
21.5% |
-6.2% |
15.9% |
-0.6% |
17.8% |
20.8% |
-3.0% |
C2 Trading Volume and Market Share
C2 Volume: October
- C2's ADV for the month was 274,198 contracts and total volume was 6.0 million contracts, decreases of 7 percent and 2 percent, respectively, from September 2015.
- When compared to October 2014's records in ADV and total volume, October 2015 ADV declined 43 percent and total volume declined 45 percent.
|
C2 Trading Volume Current Month |
Year-To-Date |
|||||||
|
(contracts in thousands) |
Oct 2015 |
Oct |
% Chg |
Sept 2015 |
% Chg |
Oct 2015 |
Oct 2014 |
% Chg |
|
Trading Days |
22 |
23 |
21 |
210 |
211 |
|||
|
Total Exchange |
6,032.4 |
11,067.8 |
-45% |
6,167.8 |
-2% |
67,466.0 |
68,498.2 |
-2% |
|
Total Exchange ADV |
274.2 |
481.2 |
-43% |
293.7 |
-7% |
321.3 |
324.6 |
-1% |
|
Equity Options |
1,928.8 |
1,395.0 |
38% |
1,499.0 |
29% |
19,888.1 |
9,354.5 |
113% |
|
Equity Options ADV |
87.7 |
60.7 |
45% |
71.4 |
23% |
94.7 |
44.3 |
114% |
|
Index Options |
195.8 |
108.3 |
81% |
182.8 |
7% |
1,385.5 |
432.1 |
221% |
|
Index Options ADV |
8.9 |
4.7 |
89% |
8.7 |
2% |
6.6 |
2.0 |
222% |
|
ETP Options |
3,907.7 |
9,564.5 |
-59% |
4,486.0 |
-13% |
46,192.4 |
58,711.6 |
-21% |
|
ETP Options ADV |
177.6 |
415.8 |
-57% |
213.6 |
-17% |
220.0 |
278.3 |
-21% |
C2 Market Share: October
- C2 market share of total industry volume in October was 1.7 percent, unchanged from September 2015and a decrease of 0.6 percentage points from October 2014.
|
C2 Market Share Current Month |
Year-To-Date |
|||||||
|
Oct 2015 |
Oct 2014 |
% Pt. Chg |
Sept 2015 |
% Pt. Chg |
Oct 2015 |
Oct 2014 |
% Pt. Chg |
|
|
Total Exchange |
1.7% |
2.3% |
-0.6% |
1.7% |
-- |
1.9% |
1.9% |
-- |
|
Equity Options |
1.0% |
0.6% |
0.4% |
1.0% |
-- |
1.1% |
0.5% |
0.6% |
|
Index Options |
0.5% |
0.2% |
0.3% |
0.4% |
0.1% |
0.4% |
0.1% |
0.3% |
|
ETP Options |
2.9% |
4.8% |
-1.9% |
2.9% |
-- |
3.6% |
4.6% |
-1.0% |
CBOE Futures Exchange (CFE) Trading Volume
CFE Volume: October
- Total ADV at CFE was 181,760 contracts in October, a decrease of 28 percent from September 2015and 44 percent from the record ADV in October 2014. Total volume at CFE for the month was 4.0 million contracts, down 24 percent from September 2015 and 46 percent from the record total volume a year ago.
- Total volume in CBOE Volatility Index® (VIX® Index) futures for October was 4.0 million contracts, down 24 percent from September 2015 and 46 percent from October 2014's all-time high. October VIX futures' ADV was 181,562 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: |
Sept 2015 |
Aug 2015 |
July 2015 |
June |
|
Equity Options |
$0.106 |
$0.104 |
$0.098 |
$0.093 |
|
Index Options |
$0.709 |
$0.703 |
$0.702 |
$0.697 |
|
ETP Options |
$0.143 |
$0.133 |
$0.123 |
$0.117 |
|
Total Options Average Revenue Per Contract |
$0.368 |
$0.352 |
$0.328 |
$0.308 |
|
Futures |
$1.647 |
$1.661 |
$1.712 |
$1.758 |
|
Total Average Revenue Per Contract |
$0.431 |
$0.416 |
$0.391 |
$0.368 |
