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CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that September trading volume for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options Exchange (C2SM) and futures contracts on CBOE Futures ExchangeSM (CFE®) totaled 95.48 million contracts. Average daily volume (ADV) was 4.77 million contracts, a three-percent increase from August 2013 and a two-percent decrease from September 2012.
Year to date, CBOE Volatility Index® (VIX® Index) futures trading volume through September was 86 percent higher than for the same period a year ago.
|
CBOE Holdings Consolidated Trading Volume |
Year-To-Date |
|||||||
|
(trades in thousands) |
Sep-13 |
Sep-12 |
% Chg |
Aug-13 |
% Chg |
Sep-13 |
Sep-12 |
% Chg |
|
Trading Days |
20 |
19 |
22 |
188 |
188 |
|||
|
Total Contracts (options & futures) |
95,479.1 |
92,870.4 |
3% |
101,716.9 |
-6% |
874,690.5 |
878,568.7 |
-- |
|
Total Options Contracts (CBOE & C2) |
92,502.5 |
90,459.9 |
2% |
98,189.2 |
-6% |
844,465.4 |
862,316.6 |
-2% |
|
Total Futures Contracts (CFE) |
2,976.6 |
2,410.5 |
23% |
3,527.7 |
-16% |
30,225.1 |
16,252.1 |
86% |
|
Total ADV (options & futures) |
4,774.0 |
4,887.9 |
-2% |
4,623.5 |
3% |
4,652.6 |
4,673.2 |
0% |
|
Total Options ADV (CBOE & C2) |
4,625.2 |
4,761.0 |
-3% |
4,463.2 |
4% |
4,491.8 |
4,586.8 |
-2% |
|
Total Futures ADV (CFE) |
148.8 |
126.9 |
17% |
160.3 |
-7% |
160.8 |
86.4 |
86% |
CBOE Trading Volume and Market Share
CBOE Trading Volume:
- CBOE's September trading volume totaled 87.21 million contracts. ADV in September was 4.36 million contracts, a five-percent decrease from September 2012 and a four-percent increase from August 2013.
- Index options ADV was 1.47 million contracts, a six-percent increase from September 2012 and an eight-percent increase from August 2013. Year to date through September, index options ADV is up 24 percent from a year ago.
- Exchange trade product (ETP) options ADV was 1.11 million contracts, a six-percent decrease from September 2012 and one-percent decrease from August 2013.
- Equity options ADV was 1.78 million contracts, an 11-percent decrease from September 2012 and a five-percent increase from August 2013.
- The five most actively traded index and ETP options at CBOE in September were S&P 500® Index (SPXSM) options, CBOE Volatility Index® (VIX® Index) options Standard & Poor's Depositary Receipt (SPY) options, iShares Trust - Russell 2000® Index Fund (IWM) options and iPath S&P 500 VIX Short-Term Futures ETN (VXX) options.
|
CBOE Trading Volume Current Month |
Year-To-Date |
|||||||
|
(trades in thousands) |
Sep-13 |
Sep-12 |
% Chg |
Aug-13 |
% Chg |
Sep-13 |
Sep-12 |
% Chg |
|
Trading Days |
20 |
19 |
22 |
188 |
188 |
|||
|
Total Exchange |
87,208.4 |
86,948.4 |
-- |
91,948.5 |
-5% |
787,004.5 |
824,658.1 |
-5% |
|
Total Exchange ADV |
4,360.4 |
4,576.2 |
-5% |
4,179.5 |
4% |
4,186.2 |
4,386.5 |
-5% |
|
Equity Options |
35,685.8 |
38,213.5 |
-7% |
37,329.6 |
-4% |
300,222.9 |
378,966.3 |
-21% |
|
Equity Options ADV |
1,784.3 |
2,011.2 |
-11% |
1,696.8 |
5% |
1,596.9 |
2,015.8 |
-21% |
|
Index Options |
29,319.5 |
26,394.3 |
11% |
29,996.6 |
-2% |
276,893.0 |
223,016.1 |
24% |
|
Index Options ADV |
1,466.0 |
1,389.2 |
6% |
1,363.5 |
8% |
1,472.8 |
1,186.3 |
24% |
|
ETP Options |
22,203.1 |
22,340.6 |
-1% |
24,622.3 |
-10% |
209,888.5 |
222,675.7 |
-6% |
|
ETP Options ADV |
1,110.2 |
1,175.8 |
-6% |
1,119.2 |
-1% |
1,116.4 |
1,184.4 |
-6% |
Expanded full-year and September 2013 volume information for CBOE index and ETP options is available at: www.cboe.com/data/monthlyvolume.aspx.
CBOE Market Share:
CBOE's market share of total U.S. options industry volume was 27.6 percent in September 2013, an increase of 1.2 percentage points from September 2012 and a decrease of one percentage point from August 2013.
|
CBOE Market Share Current Month |
Year-To-Date |
|||||||
|
Sep-13 |
Sep-12 |
% Pt. Chg |
Aug-13 |
% Pt. Chg |
Sep-13 |
Sep-12 |
% Pt. Chg |
|
|
Total Exchange |
27.6% |
26.4% |
1.2% |
28.6% |
-1.0% |
25.6% |
27.2% |
-1.6% |
|
Equity Options |
20.6% |
21.2% |
-0.6% |
21.1% |
-0.5% |
17.9% |
22.0% |
-4.1% |
|
Index Options |
97.5% |
93.6% |
3.9% |
97.5% |
-- |
96.3% |
94.0% |
2.3% |
|
ETP Options |
19.8% |
18.5% |
1.3% |
21.6% |
-1.8% |
18.9% |
20.8% |
-1.9% |
C2 Trading Volume and Market Share
C2 Trading Volume:
- C2's September trading volume totaled 5.29 million contracts. ADV was 264,700 contracts, a 43-percent increase from September 2012 and a seven-percent decrease fromAugust 2013.
- Year to date through September, ADV increased 53 percent from the same period a year ago, with ETPs options ADV -- up 113 percent -- driving year-to-date increases.
- On September 3, C2 listed Russell 2000 Index options for trading.
|
C2 Trading Volume Current Month |
Year-To-Date |
|||||||
|
(trades in thousands) |
Sep-13 |
Sep-12 |
% Chg |
Aug-13 |
% Chg |
Sep-13 |
Sep-12 |
% Chg |
|
Trading Days |
20 |
19 |
22 |
188 |
188 |
|||
|
Total Exchange |
5,294.0 |
3,511.5 |
51% |
6,240.8 |
-15% |
57,460.9 |
37,658.5 |
53% |
|
Total Exchange ADV |
264.7 |
184.8 |
43% |
283.7 |
-7% |
305.6 |
200.3 |
53% |
|
Equity Options |
938.4 |
1,362.0 |
-31% |
1,217.5 |
-23% |
11,703.2 |
15,101.0 |
-23% |
|
Equity Options ADV |
46.9 |
71.7 |
-35% |
55.4 |
-15% |
62.3 |
80.3 |
-23% |
|
Index Options* |
14.7 |
99.7 |
nm |
-- |
nm |
151.0 |
1,104.8 |
nm |
|
Index Options ADV* |
0.7 |
5.2 |
nm |
-- |
nm |
0.8 |
5.9 |
nm |
|
ETP Options |
4,340.9 |
2,049.8 |
112% |
5,023.3 |
-14% |
45,606.8 |
21,452.7 |
113% |
|
ETP Options ADV |
217.0 |
107.9 |
101% |
228.3 |
-5% |
242.6 |
114.1 |
113% |
*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
C2 Market Share:
C2 market share of total industry volume in September 2013 was 1.7 percent, a 0.6-percentage- point increase from September 2012 and a 0.2-percentage-point decrease from August 2013.
|
C2 Market Share Current Month |
Year-To-Date |
|||||||
|
Sep-13 |
Sep-12 |
% Pt. Chg |
Aug-13 |
% Pt. Chg |
Sep-13 |
Sep-12 |
% Pt. Chg |
|
|
Total Exchange |
1.7% |
1.1% |
0.6% |
1.9% |
-0.2% |
1.9% |
1.2% |
0.7% |
|
Equity Options |
0.5% |
0.8% |
-0.3% |
0.7% |
-0.2% |
0.7% |
0.9% |
-0.2% |
|
Index Options* |
0.1% |
0.4% |
-0.3% |
-- |
0.1% |
0.1% |
0.5% |
-0.4 |
|
ETP Options |
3.9% |
1.7% |
1.9% |
4.4% |
-0.5% |
4.1% |
2.0% |
2.1% |
*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.
CBOE Futures Exchange Trading Volume and Highlights
- September trading volume for VIX futures totaled 2.96 million contracts. Average daily trading volume in VIX futures was 148,039 contracts, a 17-percent increase fromSeptember 2012 and a seven-percent decrease from August 2013.
- Year to date through September, VIX futures volume totaled over 30 million contracts, an 86-percent increase from the same period in 2012.
- Announced yesterday:
- CFE will launch the first phase of its extended trading hours initiative for VIX futures on Monday, October 21, with the second phase to follow on Monday, October 28. For more information, see http://www.cboe.com/AboutCBOE/MediaHub/press-releases.aspx.
- CFE will launch trading on CBOE Russell 2000® Volatility Index (RVX) futures (ticker symbol VU) on Wednesday, October 30. For more information, seehttp://www.cboe.com/RVX and http://www.cboe.com/AboutCBOE/MediaHub/press-releases.aspx.
CBOE Holdings Average Revenue Per Contract
The following represents the 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 on all three exchanges during the period. Average revenue 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-13 |
Jul-13 |
Jun-13 |
May-13 |
|
Equity Options |
$0.081 |
$0.082 |
$0.090 |
$0.094 |
|
Index Options |
$0.671 |
$0.670 |
$0.675 |
$0.674 |
|
ETP Options |
$0.122 |
$0.121 |
$0.119 |
$0.119 |
|
Total Options Average Revenue Per Contract |
$0.278 |
$0.282 |
$0.289 |
$0.295 |
|
Futures |
$1.533 |
$1.544 |
$1.544 |
$1.594 |
|
Total Average Revenue Per Contract |
$0.321 |
$0.324 |
$0.334 |
$0.341 |
