CBOE Holdings Reports November 2015 Trading Volume

- Total Volume of 82.8 Million Contracts

- Down 16% From October 2015, 3% From November 2014

- ADV of 4.1 Million Contracts

- Down 8% From October 2015 and November 2014

01 Dec, 2015, 14:46 ET from CBOE Holdings, Inc.


CHICAGO, Dec. 1, 2015 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that total trading volume in November for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options Exchange (C2) and futures contracts on CBOE Futures Exchange (CFE®) was 82.8 million contracts, with an average daily volume (ADV) of 4.1 million contracts, decreases of 16 percent and 8 percent, respectively, from October 2015.    

When compared to November 2014's 85.6 million total options and futures contracts and ADV of 4.5 million contracts, total volume and ADV during November 2015 declined 3 percent and 8 percent, respectively.   

 

CBOE Holdings Consolidated Trading Volume Current Month

Year-To-Date

(contracts in thousands)

Nov

 2015

Nov

2014

% Chg

Oct

2015

% Chg

Nov

2015

Nov

2014

% Chg

Trading Days

20

19

22

230

230

Total Contracts      (options & futures)

82,767.2

85,574.4

-3%

98,841.0

-16%

1,083,905.2

1,212,831.6

-11%

Total Options Contracts (CBOE & C2)

79,286.0

82,903.4

-4%

94,842.3

-16%

1,036,763.1

1,167,209.2

-11%

Total Futures Contracts (CFE)

3,481.2

2,671.0

30%

3,998.7

-13%

47,142.2

45,622.4

3%

Total ADV  (options & futures)

4,138.4

4,503.9

-8%

4,492.8

-8%

4,712.6

5,273.2

-11%

Total Options ADV    (CBOE & C2)

3,964.3

4,363.3

-9%

4,311.0

-8%

4,507.7

5,074.8

-11%

Total Futures ADV  (CFE)

174.1

140.6

24%

181.8

-4%

205.0

198.4

3%

CBOE Trading Volume and Market Share

CBOE Volume: November  

  • CBOE's ADV for the month was 3.7 million contracts and total volume was 74.2 million contracts, decreases of 8 percent and 16 percent, respectively, from October 2015.  When compared to November 2014's ADV and total volume, November 2015 ADV declined 8 percent and total volume declined 4 percent.    
  • November ADV in equity options increased 4 percent from October 2015 and decreased 18 percent from November 2014. 
  • November ADV in index options decreased 15 percent from October 2015, but increased 14 percent from ADV in November 2014.           
  • November ADV in exchange-traded product (ETP) options decreased 15 percent from October 2015 and 19 percent versus November 2014.
  • 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)

Nov

2015

Nov

2014

% Chg

Oct

2015

% Chg

Nov

2015

Nov

2014

% Chg

Trading Days

20

19

22

230

230

Total Exchange

74,221.6

77,043.6

-4%

88,809.9

-16%

964,232.7

1,092,851.1

-12%

Total Exchange ADV

3,711.1

4,054.9

-8%

4,036.8

-8%

4,192.3

4,751.5

-12%

Equity Options

29,618.2

34,328.1

-14%

31,210.1

-5%

344,031.2

439,306.6

-22%

Equity Options ADV

1,480.9

1,806.7

-18%

1,418.6

4%

1,495.8

1,910.0

-22%

Index Options

28,813.2

24,112.6

19%

37,271.9

-23%

374,141.5

370,478.0

1%

Index Options ADV

1,440.7

1,269.1

14%

1,694.2

-15%

1,626.7

1,610.8

1%

ETP Options

15,790.2

18,602.9

-15%

20,327.9

-22%

246,060.0

283,066.5

-13%

ETP Options ADV

789.5

979.1

-19%

924.0

-15%

1,069.8

1,230.7

-13%

 

CBOE Market Share: November    

  • CBOE's market share of total U.S. options industry volume was 23 percent in November, a decrease of 1.5 percentage points from October 2015 and 3.1 percentage points from November 2014.

CBOE Market Share Current Month

Year-To-Date

Nov 2015

Nov 2014

% Pt. Chg

Oct 2015

% Pt. Chg

Nov 2015

Nov 2014

% Pt. Chg

Total Exchange

23.0%

26.1%

-3.1%

24.5%

-1.5%

25.3%

27.9%

-2.6%

Equity Options

15.8%

19.5%

-3.7%

16.3%

-0.5%

17.0%

20.3%

-3.3%

Index Options

97.7%

97.2%

0.5%

98.0%

-0.3%

97.7%

96.5%

1.2%

ETP Options

14.9%

19.7%

-4.8%

15.3%

-0.4%

17.5%

20.7%

-3.2%

 

C2 Trading Volume and Market Share

C2 Volume: November

  • C2's ADV for the month was 253,222 contracts and total volume was 5.1 million contracts, decreases of 8 percent and 16 percent, respectively, from October 2015. 
  • When compared to November 2014's ADV and total volume, November 2015 ADV declined 18 percent and total volume declined 14 percent.    

 

C2 Trading Volume Current Month

Year-To-Date

(contracts in thousands)

Nov 2015

Nov 2014

% Chg

Oct

2015

% Chg

Nov

2015

Nov

2014

% Chg

Trading Days

20

19

22

230

230

Total Exchange

5,064.4

5,859.9

-14%

6,032.4

-16%

72,530.4

74,358.1

-2%

Total Exchange ADV

253.2

308.4

-18%

274.2

-8%

315.3

323.3

-2%

Equity Options

1,430.8

1,063.5

35%

1,928.8

-26%

21,318.9

10,418.0

105%

Equity Options ADV

71.5

56.0

28%

87.7

-18%

92.7

45.3

105%

Index Options

187.8

46.2

307%

195.8

-4%

1,573.3

478.3

229%

Index Options ADV

9.4

2.4

286%

8.9

5%

6.8

2.1

229%

ETP Options

3,445.9

4,750.2

-27%

3,907.7

-12%

49,638.3

63,461.8

-22%

ETP Options ADV

172.3

250.0

-31%

177.6

-3%

215.8

275.9

-22%

 

C2 Market Share: November

  • C2's market share of total industry volume in November was 1.6 percent, a decrease of 0.1 percentage points from October 2015 and 0.4 percentage points from November 2014.

 

C2  Market Share Current Month

Year-To-Date

Nov 2015

Nov 2014

% Pt. Chg

Oct 2015

% Pt. Chg

Nov 2015

Nov 2014

% Pt. Chg

Total Exchange

1.6%

2.0%

-0.4%

1.7%

-0.1%

1.9%

1.9%

--

Equity Options

0.8%

0.6%

0.2%

1.0%

-0.2%

1.1%

0.5%

0.6%

Index Options

0.6%

0.2%

0.4%

0.5%

0.1%

0.4%

0.1%

0.3%

ETP Options

3.3%

5.0%

-1.7%

2.9%

0.4%

3.5%

4.6%

-1.1%

CBOE Futures Exchange (CFE) Trading Volume

CFE Volume: November    

  • Total ADV at CFE was 174,061 contracts in November, an increase of 24 percent from November 2014 and a decrease of 4 percent from October 2015. Total volume at CFE for the month was 3.5 million contracts, up 30 percent from total volume a year ago and down 13 percent from October 2015.   
  • Total volume in CBOE Volatility Index® (VIX® Index) futures for November was 3.5 million contracts, down 13 percent from October 2015 and up 30 percent from November 2014. November VIX futures' ADV was 173,790 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:

Oct

2015

Sept 2015

Aug

2015

July

2015

Equity Options

$0.105

$0.106

$0.104

$0.098

Index Options

$0.706

$0.709

$0.703

$0.702

ETP Options

$0.146

$0.143

$0.133

$0.123

     Total Options Average Revenue Per Contract

$0.370

$0.368

$0.352

$0.328

Futures

$1.662

$1.647

$1.661

$1.712

     Total Average Revenue Per Contract

$0.432

$0.431

$0.416

$0.391

 

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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