CBOE Holdings Reports February 2016 Trading Volume

- Total ADV of 4.6 Million Contracts, Unchanged From February 2015

- Index Options ADV of 1.7 Million Contracts, Up 26% From Year Ago

Mar 01, 2016, 16:25 ET from CBOE Holdings, Inc.

CHICAGO, March 1, 2016 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that total trading volume in February for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options Exchange (C2) and futures contracts on CBOE Futures Exchange (CFE®) was 92.9 million contracts, an increase of 5 percent from February 2015 and a decrease of 10 percent from January 2016. 

Average daily volume (ADV) for the month was 4.6 million contracts, relatively unchanged from February 2015 and down 14 percent from January 2016.      

 

CBOE Holdings Consolidated Trading Volume Current Month

Year-To-Date

(contracts in thousands)

Feb

 2016

Feb

2015

% Chg

Jan

2016

% Chg

Feb

2016

Feb

2015

% Chg

Trading Days

20

19

19

39

39

Total Contracts (options & futures)

92,922.1

88,507.4

5%

102,994.5

-10%

195,916.6

195,747.1

---

Total Options Contracts (CBOE & C2)

88,829.6

85,340.9

4%

97,826.1

-9%

186,655.7

188,006.9

-1%

Total Futures Contracts (CFE)

4,092.5

3,166.5

29%

5,168.4

-21%

9,260.9

7,740.2

20%

Total ADV (options & futures)

4,646.1

4,658.3

---

5,420.7

-14%

5,023.5

5,019.2

---

Total Options ADV (CBOE & C2)

4,441.5

4,491.6

-1%

5,148.7

-14%

4,786.0

4,820.7

-1%

Total Futures ADV (CFE)

204.6

166.7

23%

272.0

-25%

237.5

198.5

20%

 

CBOE Trading Volume and Market Share

CBOE Volume: February  

  • CBOE's total volume for the month was 82.3 million contracts, an increase of 3 percent from February 2015. ADV was 4.1 million contracts, a decrease of 2 percent from a year ago. When compared to January 2016's ADV and total volume, February 2016 total volume declined 9 percent and ADV declined 14 percent.
  • February ADV in index options increased 26 percent from February 2015, but decreased 13 percent from ADV in January 2016.
  • February ADV in equity options decreased 24 percent from February 2015 and 13 percent from January 2016.
  • February ADV in exchange-traded product (ETP) options was unchanged from February 2015 and fell 17 percent from January 2016.
  • 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)

Feb

2016

Feb

2015

% Chg

Jan

2016

% Chg

Feb

2016

Feb

2015

% Chg

Trading Days

20

19

19

39

39

Total Exchange

82,336.5

79,692.6

3%

90,837.3

-9%

173,173.8

175,208.7

-1%

Total Exchange ADV

4,116.8

4,194.3

-2%

4,780.9

-14%

4,440.4

4,492.5

-1%

Equity Options

27,002.0

33,769.4

-20%

29,415.5

-8%

56,417.6

71,232.7

-21%

Equity Options ADV

1,350.1

1,777.3

-24%

1,548.2

-13%

1,446.6

1,826.5

-21%

Index Options

34,599.2

26,125.8

32%

37,626.4

-8%

72,225.6

57,477.4

26%

Index Options ADV

1,730.0

1,375.0

26%

1,980.3

-13%

1,851.9

1,473.8

26%

ETP Options

20,735.3

19,797.3

5%

23,795.4

-13%

44,530.7

46,498.6

-4%

ETP Options ADV

1,036.8

1,042.0

--

1,252.4

-17%

1,141.8

1,192.3

-4%

 

CBOE Market Share: February    

  • CBOE's market share of total U.S. options industry volume was 24.8 percent in February, a decrease of 0.1 percentage points from January 2016 and 1.5 percentage points from February 2015.

 

CBOE Market Share Current Month

Year-To-Date

Feb 2016

Feb 2015

% Pt. Chg

Jan 2016

% Pt. Chg

Feb 2016

Feb 2015

% Pt. Chg

Total Exchange

24.8%

26.3%

-1.5%

24.9%

-0.1%

24.9%

26.7%

-1.8%

Equity Options

16.7%

19.3%

-2.6%

17.2%

-0.5%

16.9%

19.3%

-2.4%

Index Options

98.2%

95.8%

2.4%

98.2%

---

98.2%

96.1%

2.1%

ETP Options

15.3%

19.7%

-4.4%

15.4%

-0.1%

15.3%

20.5%

-5.2%

 

C2 Trading Volume and Market Share

C2 Volume: February

  • C2's ADV for the month was 324,653 contracts and total volume was 6.5 million contracts, an increase of 9 percent and 15 percent, respectively, from February 2015.
  • When compared to January 2016's ADV and total volume, February 2016 ADV declined 12 percent and total volume declined 7 percent.

 

C2 Trading Volume Current Month

Year-To-Date

(contracts in thousands)

Feb 2016

Feb 2015

% Chg

Jan

2016

% Chg

Feb

2016

Feb

2015

% Chg

Trading Days

20

19

19

39

39

Total Exchange

6,493.1

5,648.3

15%

6,988.8

-7%

13,481.9

12,798.3

5%

Total Exchange ADV

324.7

297.3

9%

367.8

-12%

345.7

328.2

5%

Equity Options

1,750.7

1,823.3

-4%

1,605.8

9%

3,356.6

3,695.4

-9%

Equity Options ADV

87.5

96.0

-9%

84.5

4%

86.1

94.8

-9%

Index Options

247.4

43.3

471%

291.8

-15%

539.1

110.2

389%

Index Options ADV

12.4

2.3

442%

15.4

-19%

13.8

2.8

389%

ETP Options

4,495.0

3,781.7

19%

5,091.2

-12%

9,586.2

8,992.7

7%

ETP Options ADV

224.7

199.0

13%

268.0

-16%

245.8

230.6

7%

 

C2 Market Share: February

  • C2's market share of total industry volume in February was 2 percent, an increase of 0.1 percentage points from January 2016 and from February 2015.

 

C2  Market Share Current Month

Year-To-Date

Feb 2016

Feb 2015

% Pt. Chg

Jan 2016

% Pt. Chg

Feb 2016

Feb 2015

% Pt. Chg

Total Exchange

2.0%

1.9%

0.1%

1.9%

0.1%

1.9%

2.0%

0.1%

Equity Options

1.1%

1.0%

0.1%

0.9%

0.2%

1.0%

1.0%

---

Index Options

0.7%

0.2%

0.5%

0.8%

-0.1%

0.7%

0.2%

0.5%

ETP Options

3.3%

3.8%

-0.5%

3.3%

---

3.3%

4.0%

-0.7%

 

CBOE Futures Exchange (CFE) Trading Volume

CFE Volume: February    

  • Total ADV at CFE was 204,624 contracts in February, an increase of 23 percent from February 2015 and a decrease of 25 percent from January 2016. Total volume at CFE for the month was 4.1 million contracts, up 29 percent from total volume a year ago and down 21 percent from January 2016.

 

CFE Monthly Volume Summary*

Year-To-Date

 (contracts in thousands)

Feb 2016

Feb 2015

% Chg

Jan 2016

% Chg

 

Feb 2016

Feb 2015

% Chg

Trading Days

20

19

19

39

39

VIX Index Futures

     Total

4,092.2

3,164.4

29%

5,167.9

-21%

9,260.1

7,733.1

20%

     ADV

204,609

166,547

23%

271,994

-25%

237,438

198,285

20%

CFE Total Exchange

     Total

4,092.5

3,166.5

29%

5,168.4

-21%

9,260.9

7,740.2

20%

     ADV

204.6

166.7

23%

272.0

-25%

237.5

198.5

20%

*Volume numbers for 2016 now include VIX Weeklys futures totals.

 

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:

Jan

2016

Dec 2015

Nov

2015

Oct

2015

Equity Options

$0.095

$0.097

$0.098

$0.105

Index Options

$0.738

$0.726

$0.718

$0.706

ETP Options

$0.138

$0.143

$0.144

$0.146

     Total Options Average Revenue Per Contract

$0.351

$0.349

$0.357

$0.370

Futures

$1.636

$1.686

$1.686

$1.662

     Total Average Revenue Per Contract

$0.412

$0.408

$0.417

$0.432

 

About CBOE Holdings: CBOE Holdings, Inc. (NASDAQ: CBOE) is the holding company for Chicago Board Options Exchange (CBOE), the CBOE Futures Exchange (CFE), and other subsidiaries. CBOE, the largest U.S. options exchange and creator of listed options, continues to set the bar for options and volatility trading through product innovation, trading technology and investor education. CBOE Holdings offers equity, index and ETP options, including proprietary products, such as options and futures on the CBOE Volatility Index (VIX Index) and S&P 500 options (SPX), the most active U.S. index option.  Other products engineered by CBOE include equity options, security index options, Weeklys options, FLEX options, and benchmark products such as the CBOE S&P BuyWrite Index (BXM). CBOE Holdings is home to the world-renowned Options Institute, Livevol options analytics and data tools, and www.cboe.com, the go-to place for options and volatility trading resources.

 

Media Contacts:

Analyst Contact:

Suzanne Cosgrove

Gary Compton

Debbie Koopman

(312) 786-7123

(312) 786-7612

(312) 786-7136

cosgrove@cboe.com 

comptong@cboe.com 

koopman@cboe.com

 

CBOE-V CBOE-2 CBOE-EF

CBOE®, Chicago Board Options Exchange®, CFE®, Execute Success®, FLEX®, Livevol®, CBOE Volatility Index® and VIX® are registered trademarks, and BuyWriteSM, BXMSM, CBOE Futures ExchangeSM, The Options InstituteSM and WeeklysSM are service marks of Chicago Board Options Exchange, Incorporated (CBOE). Standard & Poor's®, S&P® and S&P 500® are registered trademarks of Standard & Poor's Financial Services, LLC and have been licensed for use by CBOE and CFE. All other trademarks and service marks are the property of their respective owners.

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SOURCE CBOE Holdings, Inc.



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