CHICAGO, Oct. 5, 2022
/PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading
provider of global market infrastructure and tradable products,
today reported September monthly trading volume statistics across
its global business lines and provided guidance for selected
revenue per contract/net revenue capture metrics for the third
quarter of 2022.
The data sheet "Cboe Global Markets Monthly Volume & RPC/Net
Revenue Capture Report" contains an overview of certain September
trading statistics and market share by business segment, volume in
select index products, and RPC/net capture, which is reported on a
one-month lag, across business lines.
Average Daily
Trading Volume (ADV) by Month
|
Year-To-Date
|
|
|
|
|
|
|
|
|
|
Sept
2022
|
Sept
2021
|
%
Chg
|
Aug
2022
|
%
Chg
|
Sept
2022
|
Sept
2021
|
%
Chg
|
Multiply-listed options
(contracts, k)
|
11,277
|
10,092
|
11.7 %
|
10,464
|
7.8 %
|
10,649
|
9,932
|
7.2 %
|
Index options
(contracts, k)
|
3,453
|
2,228
|
55.0 %
|
2,715
|
27.2 %
|
2,676
|
1,904
|
40.6 %
|
Futures (contracts,
k)
|
237
|
259
|
-8.6 %
|
192
|
23.6 %
|
227
|
231
|
-1.8 %
|
U.S. Equities -
On-Exchange (matched shares, mn)
|
1,511
|
1,436
|
5.2 %
|
1,409
|
7.2 %
|
1,664
|
1,684
|
-1.2 %
|
U.S. Equities -
Off-Exchange (matched shares, mn)
|
79
|
72
|
8.8 %
|
84
|
-6.9 %
|
94
|
83
|
13.4 %
|
Canadian
Equities1 (matched shares, k)
|
113,199
|
42,801
|
164.5 %
|
115,819
|
-2.3 %
|
76,198
|
52,096
|
46.3 %
|
European Equities (€,
mn)
|
10,629
|
8,180
|
29.9 %
|
8,377
|
26.9 %
|
11,107
|
7,343
|
51.3 %
|
EuroCCP Cleared
Trades2 (k)
|
124,220
|
112,404
|
10.5 %
|
105,537
|
17.7 %
|
1,152,338
|
899,111
|
28.2 %
|
EuroCCP Net
Settlements2 (k)
|
859
|
844
|
1.8 %
|
883
|
-2.7 %
|
7,851
|
7,275
|
7.9 %
|
Australian
Equities3 (AUD, mn)
|
760
|
887
|
-14.3 %
|
706
|
7.6 %
|
806
|
N/A
|
|
Japanese
Equities3 (JPY, bn)
|
155
|
107
|
44.9 %
|
164
|
-5.5 %
|
153
|
N/A
|
|
Global FX ($,
mn)
|
46,909
|
34,890
|
34.4 %
|
38,031
|
23.3 %
|
40,957
|
33,956
|
20.6 %
|
1Canadian
Equities data include MATCHNow and NEO from June 2022 onwards.
Before June 2022 it included MATCHNow only. "Net capture
per 10,000 touched shares" refers to transaction fees divided by
the product of one-ten thousandth ADV of shares for NEO and
MATCHNow
and the number of trading days for the period.
|
2 EuroCCP
figures are totals (not ADV) for the months and
years-to-date.
|
3 Australian
Equities and Japanese Equities data reflects Cboe's acquisition of
Cboe Asia Pacific (formerly Chi-X Asia Pacific) effective on
July 1, 2021.
|
September and Third-Quarter 2022 Trading Volume
Highlights
U.S. Options
- For the second consecutive month, total U.S. options volume
reached an all-time high with volume across all four Cboe options
exchanges of 309.3 million contracts in September, up two percent
from the previous record in August.
- Trading in S&P 500 Index (SPX) options reached an all-time
high, setting multiple records, including:
-
- A new monthly volume record of 59.2 million contracts, up 15
percent from the previous record in August.
- Average Daily Volume (ADV) in September also reached a new
all-time high of 2.8 million contracts.
- A new single-day volume record on September 23 with 3.8 million contracts traded,
beating the previous record of 3.6 million on February 28, 2020.
- SPX Weeklys Tuesdays and Thursdays options saw a total 14.6
million contracts traded, the highest monthly volume since
launch.
- In addition, records were set in SPX options expiring on the
trade date (zero-days-to-expiry), including:
-
- A new monthly ADV record of 1.2 million contracts, up 26
percent from the previous record in August.
- A new single-day volume record on September 2 with 1.5 million contracts traded,
surpassing the previous high of 1.3 million on August 26.
- ADV in Mini-S&P 500 Index (XSP) options surpassed 40,000
contracts, the highest month since March
2020.
- ADV in Cboe Volatility Index (VIX) Weeklys options reached
36,000 contracts, a new monthly record since March 2020.
Global FX
- ADV of $45.8 billion in Spot was
the highest month this year and $990
million on Cboe SEF (NDFs) was the highest month on
record.
European Equities and Derivatives
- Cboe Europe Equities had an overall market share of 24.9
percent in September, its highest market share since January 2016, making it Europe's largest stock exchange for the third
consecutive month.
- Cboe BIDS Europe, Cboe's European block trading platform, had a
record 36 percent share of the LIS (large-in-scale) market, making
it the largest platform of its type for the sixth consecutive month
(Source: big xyt).
- EuroCCP, Cboe's pan-European clearing house, cleared a record
6.5 million sides on Euronext's stock exchanges in Amsterdam, Brussels, Paris and Lisbon under the preferred clearing model,
beating the previous high of 6.1 million sides cleared in
July 2022.
Australian Equities
- Cboe Australia's continuous market share was 17.4 percent, its
best month since February 2020.
- Cboe Australia's continuous market share in the Australian ETF
market was 35.4 percent, its highest on record, and total market
share was 41.7 percent, its second highest month on record.
Third-Quarter 2022 RPC/Net Revenue Capture Guidance
The projected RPC/net capture metrics for the third-quarter of
2022 are estimated, preliminary and may change. There can be no
assurance that our final RPC for the three months ended
September 30, 2022, will not differ
materially from these projections.
|
(In USD unless
stated otherwise)
|
|
Two-Months
Ended
|
Three-Months
Ended
|
Product:
|
3Q
Projection
|
Aug-22
|
Aug-22
|
Jul-22
|
Jun-22
|
Multiply-Listed Options
(per contract)
|
0.063
|
0.061
|
0.061
|
0.064
|
0.066
|
Index
Options
|
0.897
|
0.895
|
0.892
|
0.884
|
0.883
|
Total
Options
|
0.244
|
0.233
|
0.236
|
0.238
|
0.233
|
Futures (per
contract)
|
1.709
|
1.708
|
1.699
|
1.677
|
1.677
|
U.S. Equities -
Exchange (per 100 touched shares)
|
0.023
|
0.023
|
0.024
|
0.022
|
0.020
|
U.S. Equities -
Off-Exchange (per 100 touched shares)
|
0.113
|
0.115
|
0.111
|
0.108
|
0.108
|
Canadian Equities (per
10,000 touched shares)
|
CAD 4.32
|
CAD 4.36
|
CAD 4.17
|
CAD 4.80
|
CAD 5.67
|
European Equities (per
matched notional value)
|
0.231
|
0.226
|
0.226
|
0.229
|
0.231
|
Australian Equities
(per matched notional value)
|
0.168
|
0.168
|
0.169
|
0.171
|
0.171
|
Japanese Equities (per
matched notional value)
|
0.259
|
0.256
|
0.261
|
0.261
|
0.258
|
Global FX (per one
million dollars traded)
|
2.683
|
2.724
|
2.713
|
2.704
|
2.704
|
EuroCCP Fee per Trade
Cleared
|
0.008
|
0.009
|
0.009
|
0.009
|
0.009
|
EuroCCP Net Fee per
Settlement
|
0.848
|
0.852
|
0.856
|
0.825
|
0.808
|
The above represents average revenue per contract (RPC) or net
capture based on a three-month rolling average. For options and
futures, the average RPC represents total net transaction fees
recognized for the period divided by total contracts traded during
the period for options exchanges: BZX Options, Cboe Options, C2
Options and EDGX Options; futures include contracts traded on Cboe
Futures Exchange, LLC (CFE). For U.S. Equities –
On-Exchange, "net capture per 100 touched shares" refers to
transaction fees less liquidity payments and routing and clearing
costs divided by the product of one-hundredth ADV of touched shares
on BZX, BYX, EDGX and EDGA and the number of trading days for the
period. For U.S. Equities – Off-Exchange, "net capture
per 100 touched shares" refers to transaction fees less OMS/EMS
costs and clearing costs divided by the product of one-hundredth
ADV of touched shares on BIDS Trading and the number of trading
days for the period. For Canadian Equities, "net capture per 10,000
touched shares" refers to transaction fees divided by the product
of one-ten thousandth ADV of shares for MATCHNow and the number of
trading days for the period and includes revenue from NEO from
June 2022. For European Equities,
"net capture per matched notional value" refers to transaction fees
less liquidity payments in British pounds divided by the product of
ADNV in British pounds of shares matched on Cboe Europe Equities
and the number of trading days. For EuroCCP, "Fee per Trade
Cleared" refers to clearing fees divided by number of
non-interoperable trades cleared and "Net Fee per Settlement"
refers to settlement fees less direct costs incurred to settle
divided by the number of settlements executed after netting. For
Australian Equities, "net capture per matched notional value"
refers to transaction fees less liquidity payments in Australian
Dollars divided by the product of ADNV in Australian Dollars of
shares matched on Cboe Australia and the number of trading days.
For Japanese Equities, "net capture per matched notional value"
refers to transaction fees less liquidity payments in Japanese Yen
divided by the product of ADNV in Japanese Yen of shares matched on
Cboe Japan and the number of trading days. For Global FX, "net
capture per one million dollars traded" refers to
transaction fees less liquidity payments, if any, divided by the
Spot and SEF products of one-thousandth of ADNV traded on the Cboe
FX markets and the number of trading days, divided by two, which
represents the buyer and seller that are both charged on the
transaction. 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.
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE), a leading provider of market
infrastructure and tradable products, delivers cutting-edge
trading, clearing and investment solutions to market participants
around the world. The company is committed to operating a trusted,
inclusive global marketplace, providing leading products,
technology and data solutions that enable participants to define a
sustainable financial future. Cboe provides trading solutions and
products in multiple asset classes, including equities,
derivatives, FX and digital assets, across North America, Europe and Asia
Pacific. To learn more, visit www.cboe.com.
Media
Contacts
|
|
Analyst
Contact
|
Angela
Tu
|
Tim
Cave
|
|
Kenneth Hill,
CFA
|
|
+1-646-856-8734
|
+44 (0)
7593-506-719
|
|
+1-312-786-7559
|
|
atu@cboe.com
|
tcave@cboe.com
|
|
khill@cboe.com
|
|
CBOE-V
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Options involve risk and are not suitable for all market
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involves the risk of loss. That risk of loss can be substantial and
can exceed the amount of money deposited for a futures position.
You should, therefore, carefully consider whether futures trading
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SOURCE Cboe Global Markets, Inc.