CHICAGO, Oct. 4,
2023 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe:
CBOE), the world's leading derivatives and securities exchange
network, 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 2023.
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
|
|
|
|
|
|
|
|
|
|
Sep
2023
|
Sep
2022
|
%
Chg
|
Aug
2023
|
%
Chg
|
Sep
2023
|
Sep
2022
|
%
Chg
|
Multiply-listed options
(contracts, k)
|
10,477
|
11,277
|
-7.1 %
|
11,007
|
-4.8 %
|
10,844
|
10,649
|
1.8 %
|
Index options
(contracts, k)
|
3,949
|
3,453
|
14.3 %
|
3,825
|
3.2 %
|
3,674
|
2,676
|
37.3 %
|
Futures (contracts,
k)
|
236
|
237
|
-0.3 %
|
240
|
-1.7 %
|
220
|
227
|
-3.0 %
|
U.S. Equities -
On-Exchange (matched shares, mn)
|
1,267
|
1,511
|
-16.2 %
|
1,346
|
-5.9 %
|
1,398
|
1,664
|
-16.0 %
|
U.S. Equities -
Off-Exchange (matched shares, mn)
|
72
|
79
|
-8.0 %
|
72
|
0.8 %
|
80
|
94
|
-14.7 %
|
Canadian
Equities1 (matched
shares, k)
|
145,392
|
113,199
|
28.4 %
|
118,919
|
22.3 %
|
134,229
|
76,198
|
76.2 %
|
European Equities (€,
mn)
|
8,471
|
10,629
|
-20.3 %
|
7,242
|
17.0 %
|
9,523
|
11,107
|
-14.3 %
|
Cboe Clear Europe
Cleared Trades2 (k)
|
86,594
|
124,766
|
-30.6 %
|
85,010
|
1.9 %
|
890,090
|
1,157,425
|
-23.1 %
|
Cboe Clear Europe Net
Settlements2 (k)
|
814
|
859
|
-5.2 %
|
858
|
-5.1 %
|
7,533
|
7,851
|
-4.0 %
|
Australian Equities
(AUD, mn)
|
683
|
760
|
-10.1 %
|
661
|
3.4 %
|
697
|
806
|
-13.5 %
|
Japanese Equities (JPY,
bn)
|
187
|
155
|
21.3 %
|
176
|
6.3 %
|
172
|
153
|
12.6 %
|
Global FX ($,
mn)
|
46,417
|
46,909
|
-1.0 %
|
42,139
|
10.2 %
|
43,960
|
40,957
|
7.3 %
|
|
1 Canadian
Equities data includes MATCHNow and NEO (now operating as Cboe
Canada) from June 2022 onwards. Before June 2022 it included
MATCHNow only.
2 Cboe Clear Europe figures are totals (not ADV)
for the months and years-to-date. As of April 2023, data has been
restated to reflect both On-Book and Off-Book cleared
trades.
|
September and Third Quarter 2023 Trading Volume
Highlights
U.S. Options
- Cboe's proprietary product suite reported several new volume
records for the month and quarter, including:
- Combined monthly ADV of more than 3.9 million
contracts
- Combined quarterly ADV of 3.7 million contracts
- Monthly ADV of 3.0 million contracts for S&P 500 Index
(SPX) options
- Quarterly ADV of 2.9 million contracts for SPX
options
Third-Quarter 2023 RPC/Net Revenue Capture Guidance
The projected RPC/net capture metrics for the third quarter of
2023 are estimated, preliminary and may change. There can be no
assurance that our final RPC for the three months ended
September 30, 2023, will not differ
materially from these projections.
(In USD unless
stated otherwise)
|
|
Three-Months
Ended
|
Product:
|
Q3
Projection
|
Aug-2023
|
Jul-2023
|
Jun-2023
|
Multiply-Listed Options
(per contract)
|
0.055
|
0.054
|
0.059
|
0.061
|
Index
Options
|
0.897
|
0.886
|
0.876
|
0.877
|
Total
Options
|
0.271
|
0.263
|
0.263
|
0.271
|
Futures (per
contract)
|
1.766
|
1.790
|
1.830
|
1.826
|
U.S. Equities -
Exchange (per 100 touched shares)
|
0.022
|
0.021
|
0.021
|
0.021
|
U.S. Equities -
Off-Exchange (per 100 touched shares)
|
0.129
|
0.129
|
0.125
|
0.122
|
Canadian Equities (per
10,000 touched shares)
|
CAD
4.003
|
CAD 4.000
|
CAD 4.100
|
CAD 4.055
|
European Equities (per
matched notional value)
|
0.229
|
0.231
|
0.231
|
0.230
|
Australian Equities
(per matched notional value)
|
0.159
|
0.158
|
0.164
|
0.160
|
Japanese Equities (per
matched notional value)
|
0.257
|
0.260
|
0.258
|
0.256
|
Global FX (per one
million dollars traded)
|
2.656
|
2.641
|
2.647
|
2.665
|
Cboe Clear Europe Fee
per Trade Cleared
|
€
0.009
|
€ 0.010
|
€ 0.010
|
€ 0.009
|
Cboe Clear Europe Net
Fee per Settlement
|
€
0.895
|
€ 0.926
|
€ 0.894
|
€ 0.887
|
The above represents average revenue per contract (RPC) or net
capture is based on a three-month rolling average, reported on a
one-month lag. 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, "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 (now
operating as Cboe Canada) 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 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
Cboe Clear Europe, "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 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), the world's leading
derivatives and securities exchange network, delivers cutting-edge
trading, clearing and investment solutions to people around the
world. Cboe provides trading solutions and products in multiple
asset classes, including equities, derivatives, FX, and digital
assets, across North America,
Europe and Asia Pacific. Above all, we are committed to
building a trusted, inclusive global marketplace that enables
people to pursue a sustainable financial future. To learn more
about the Exchange for the World Stage, 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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You should, therefore, carefully consider whether futures trading
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SOURCE Cboe Global Markets, Inc.