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CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that total trading volume in September for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options Exchange (C2) and futures contracts on CBOE Futures Exchange (CFE®) was 104.0 million contracts, a decrease of 5 percent from September 2014 and 17 percent from August 2015.
Total options and futures average daily volume (ADV) at CBOE Holdings for September was 5.0 million contracts, a decrease of 5 percent from September 2014 and 17 percent from August 2015.
|
CBOE Holdings Consolidated Trading Volume Current Month |
Year-To-Date |
|||||||
|
(Contracts in thousands) |
Sept 2015 |
Sept 2014 |
% Chg |
Aug 2015 |
% Chg |
Sept 2015 |
Sept 2014 |
% Chg |
|
Trading Days |
21 |
21 |
|
21 |
|
188 |
188 |
|
|
Total Contracts (options & futures) |
103,998.7 |
108,943.4 |
-5% |
125,243.6 |
-17% |
902,297.0 |
964,181.6 |
-6% |
|
Total Options Contracts (CBOE & C2) |
98,719.8 |
105,184.6 |
-6% |
118,834.7 |
-17% |
862,634.8 |
928,688.9 |
-7% |
|
Total Futures Contracts (CFE) |
5,278.9 |
3,758.8 |
40% |
6,408.9 |
-18% |
39,662.2 |
35,492.7 |
12% |
|
|
|
|
|
|
|
|
|
|
|
Total ADV (options & futures) |
4,952.3 |
5,187.8 |
-5% |
5,964.0 |
-17% |
4,799.5 |
5,128.6 |
-6% |
|
Total Options ADV (CBOE & C2) |
4,700.9 |
5,008.8 |
-6% |
5,658.8 |
-17% |
4,588.5 |
4,939.8 |
-7% |
|
Total Futures ADV (CFE) |
251.4 |
179.0 |
40% |
305.2 |
-18% |
211.0 |
188.8 |
12% |
CBOE Trading Volume and Market Share
CBOE Volume: September
- CBOE’s ADV for the month was 4.4 million contracts, a decrease of 5 percent from September 2014 and 17 percent from August 2015. Trading volume totaled 92.6 million contracts, a decrease of 5 percent from a year ago and 17 percent from August 2015.
- September ADV in index options increased 36 percent, while exchange-traded product (ETP) options decreased 7 percent and equity options decreased 36 percent versus September 2014. When compared to August 2015, ADV in index options, equity options and ETP options decreased 19 percent, 17 percent and 13 percent, respectively.
- 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) |
Sept 2015 |
Sept 2014 |
% Chg |
Aug 2015 |
% Chg |
Sept 2015 |
Sept 2014 |
% Chg |
|
Trading Days |
21 |
21 |
|
21 |
|
188 |
188 |
|
|
Total Exchange |
92,552.0 |
97,558.0 |
-5% |
111,068.7 |
-17% |
801,201.2 |
871,258.5 |
-8% |
|
Total Exchange ADV |
4,407.2 |
4,645.6 |
-5% |
5,289.0 |
-17% |
4,261.7 |
4,634.4 |
-8% |
|
Equity Options |
25,793.2 |
40,307.4 |
-36% |
31,160.2 |
-17% |
283,202.9 |
356,386.4 |
-21% |
|
Equity Options ADV |
1,228.2 |
1,919.4 |
-36% |
1,483.8 |
-17% |
1,506.4 |
1,895.7 |
-21% |
|
Index Options |
42,159.6 |
30,906.4 |
36% |
51,735.4 |
-19% |
308,056.4 |
293,613.5 |
5% |
|
Index Options ADV |
2,007.6 |
1,471.7 |
36% |
2,463.6 |
-19% |
1,638.6 |
1,561.8 |
5% |
|
ETP Options |
24,599.3 |
26,344.3 |
-7% |
28,173.1 |
-13% |
209,941.9 |
221,258.6 |
-5% |
|
ETP Options ADV |
1,171.4 |
1,254.5 |
-7% |
1,341.6 |
-13% |
1,116.7 |
1,176.9 |
-5% |
CBOE Market Share: September
- CBOE’s market share of total U.S. options industry volume was 26.1 percent in September, a decrease of 0.6 percentage points from September 2014 and unchanged from August 2015.
|
CBOE Market Share Current Month |
Year-To-Date |
|||||||
|
|
Sept 2015 |
Sept 2014 |
% Pt. Chg |
Aug 2015 |
% Pt. Chg |
Sept 2015 |
Sept 2014 |
% Pt. Chg |
|
Total Exchange |
26.1% |
26.7% |
-0.6% |
26.1% |
--- |
25.7% |
27.9% |
-2.2% |
|
Equity Options |
16.4% |
19.8% |
-3.4% |
15.5% |
0.9% |
17.3% |
20.4% |
-3.1% |
|
Index Options |
98.4% |
95.7% |
2.7% |
98.1% |
0.3% |
97.7% |
96.4% |
1.3% |
|
ETP Options |
15.9% |
20.2% |
-4.3% |
16.3% |
-0.4% |
18.0% |
20.7% |
-2.7% |
C2 Trading Volume and Market Share
C2 Volume: September
- C2’s September trading volume totaled 6.2 million contracts, a decrease of 19 percent from September 2014 and 21 percent from August 2015. ADV was 293,704 contracts, a decrease of 19 percent from September 2014 and 21 percent from August 2015.
|
C2 Trading Volume Current Month |
Year-To-Date |
|||||||
|
(contracts in thousands) |
Sept |
Sept |
% Chg |
Aug 2015 |
% Chg |
Sept 2015 |
Sept 2014 |
% Chg |
|
Trading Days |
21 |
21 |
|
21 |
|
188 |
188 |
|
|
Total Exchange |
6,167.8 |
7,626.6 |
-19% |
7,766.0 |
-21% |
61,433.6 |
57,430.4 |
7% |
|
Total Exchange ADV |
293.7 |
363.2 |
-19% |
369.8 |
-21% |
326.8 |
305.5 |
7% |
|
Equity Options |
1,499.0 |
1,156.4 |
30% |
2,326.7 |
-36% |
17,959.3 |
7,959.5 |
126% |
|
Equity Options ADV |
71.4 |
55.1 |
30% |
110.8 |
-36% |
95.5 |
42.3 |
126% |
|
Index Options |
182.8 |
36.3 |
404% |
208.1 |
-12% |
1,189.7 |
323.8 |
267% |
|
Index Options ADV |
8.7 |
1.7 |
404% |
9.9 |
-12% |
6.3 |
1.7 |
267% |
|
ETP Options |
4,486.0 |
6,433.8 |
-30% |
5,231.1 |
-14% |
42,284.7 |
49,147.1 |
-14% |
|
ETP Options ADV |
213.6 |
306.4 |
-30% |
249.1 |
-14% |
224.9 |
261.4 |
-14% |
C2 Market Share: September
- C2 market share of total industry volume in September was 1.7 percent, a decrease of 0.4 percentage points from September 2014 and 0.1 of a percentage point from August 2015.
|
C2 Market Share Current Month |
Year-To-Date |
|||||||
|
|
Sept 2015 |
Sept 2014 |
% Pt. Chg |
Aug 2015 |
% Pt. Chg |
Sept 2015 |
Sept 2014 |
% Pt. Chg |
|
Total Exchange |
1.7% |
2.1% |
-0.4% |
1.8% |
-0.1% |
2.0% |
1.8% |
0.2% |
|
Equity Options |
1.0% |
0.6% |
0.4% |
1.2% |
-0.2% |
1.1% |
0.5% |
0.6% |
|
Index Options |
0.4% |
0.1% |
0.3% |
0.4% |
--- |
0.4% |
0.1% |
0.3% |
|
ETP Options |
2.9% |
4.9% |
-2.0% |
3.0% |
-0.1% |
3.6% |
4.6% |
-1.0% |
CBOE Futures Exchange (CFE) Trading Volume
CFE Volume: September
- Total ADV at CFE was 251,376 contracts in September, an increase of 40 percent from September 2014 and a decrease of 18 percent from August 2015. Total volume at CFE for the month was 5.3 million contracts, up 40 percent from the year-ago total and down 18 percent from August 2015.
- Total volume in CBOE Volatility Index® (VIX® Index) futures for September was 5.3 million contracts, up 41 percent from September 2014, but down 17 percent from August 2015. September VIX futures’ ADV was 251,207 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: |
Aug 2015 |
July 2015 |
June 2015 |
May 2015 |
|
Equity Options |
$0.104 |
$0.098 |
$0.093 |
$0.087 |
|
Index Options |
$0.703 |
$0.702 |
$0.697 |
$0.701 |
|
ETP Options |
$0.133 |
$0.123 |
$0.117 |
$0.114 |
|
Total Options Average Revenue Per Contract |
$0.352 |
$0.328 |
$0.308 |
$0.290 |
|
Futures |
$1.661 |
$1.712 |
$1.758 |
$1.775 |
|
Total Average Revenue Per Contract |
$0.416 |
$0.391 |
$0.368 |
$0.348 |
