CBOE Holdings Reports October 2015 Trading Volume

- Total Volume of 98.8 Million Contracts

- Down 5% From September, 39% From Record October 2014

- ADV of 4.5 Million Contracts

- Down 9% From September, 37% From Record October 2014

Nov 02, 2015, 15:40 ET from CBOE Holdings, Inc.

CHICAGO, Nov. 2, 2015 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that total trading volume in October for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options Exchange (C2) and futures contracts on CBOE Futures Exchange (CFE®) was 98.8 million contracts, with an average daily volume (ADV) of 4.5 million contracts, decreases of 5 percent and 9 percent, respectively, from September 2015. 

  

When compared to the October 2014 records of 163.1 million total options and futures contracts and ADV of 7.1 million contracts, total volume and ADV during October 2015 declined 39 percent and 37 percent, respectively.   

CBOE Holdings Consolidated Trading Volume Current Month

Year-To-Date

(Contracts in thousands)

Oct

 2015

Oct

2014

%

Chg

Sept

2015

% Chg

Oct

2015

Oct

2014

% Chg

Trading Days

22

23

21

210

211

Total Contracts      (options & futures)

98,841.0

163,075.5

-39%

103,998.7

-5%

1,001,138.0

1,127,257.1

-11%

Total Options Contracts     

(CBOE & C2)

94,842.3

155,616.8

-39%

98,719.8

-4%

957,477.1

1,084,305.7

-12%

Total Futures Contracts

(CFE)

3,998.7

7,458.7

-46%

5,278.9

-24%

43,660.9

42,951.4

2%

Total ADV (options & futures)

4,492.8

7,090.2

-37%

4,952.3

-9%

4,767.3

5,342.5

-11%

Total Options ADV   

(CBOE & C2)

4,311.0

6,765.9

-36%

4,700.9

-8%

4,559.4

5,138.9

-11%

Total Futures ADV     

(CFE)

181.8

324.3

-44%

251.4

-28%

207.9

203.6

2%

CBOE Trading Volume and Market Share

CBOE Volume: October  

  • CBOE's ADV for the month was 4.0 million contracts and total volume was 88.8 million contracts, decreases of 8 percent and 4 percent, respectively, from September 2015.  When compared to October 2014's records in ADV and total volume, October 2015 ADV declined 36 percent and total volume declined 39 percent.    
  • October ADV in equity options increased 16 percent from September 2015 and decreased 33 percent from October 2014. 
  • October ADV in exchange-traded product (ETP) options decreased 21 percent from September 2015 and 51 percent versus October 2014.
  • October ADV in index options decreased 16 percent from September 2015 and 26 percent from the record ADV in October 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)

Oct

2015

Oct

2014

% Chg

Sept 2015

%Chg

Oct 2015

Oct 2014

%Chg

Trading Days

22

23

21

210

211

Total Exchange

88,809.9

144,549.1

-39%

92,552.0

-4%

890,011.1

1,015,807.6

-12%

Total Exchange ADV

4,036.8

6,284.7

-36%

4,407.2

-8%

4,238.1

4,814.3

-12%

Equity Options

31,210.1

48,592.1

-36%

25,793.2

21%

314,413.0

404,978.5

-22%

Equity Options ADV

1,418.6

2,112.7

-33%

1,228.2

16%

1,497.2

1,919.3

-22%

Index Options

37,271.9

52,751.9

-29%

42,159.6

-12%

345,328.3

346,365.4

0%

Index Options ADV

1,694.2

2,293.6

-26%

2,007.6

-16%

1,644.4

1,641.5

0%

ETP Options

20,327.9

43,205.1

-53%

24,599.3

-17%

230,269.8

264,463.7

-13%

ETP Options ADV

924.0

1,878.5

-51%

1,171.4

-21%

1,096.5

1,253.4

-13%

CBOE Market Share: October    

  • CBOE's market share of total U.S. options industry volume was 24.5 percent in October, a decrease of 1.6 percentage points from September 2015 and 4.9 percentage points from October 2014.

CBOE Market Share Current Month

Year-To-Date

Oct 2015

Oct 2014

% Pt. Chg

Sept 2015

% Pt. Chg

Oct 2015

Oct 2014

% Pt. Chg

Total Exchange

24.5%

29.4%

-4.9%

26.1%

-1.6%

25.6%

28.1%

-2.5%

Equity Options

16.3%

20.6%

-4.3%

16.4%

0.1%

17.2%

20.4%

-3.2%

Index Options

98.0%

96.7%

1.3%

98.4%

-0.4%

97.7%

96.5%

1.2%

ETP Options

15.3%

21.5%

-6.2%

15.9%

-0.6%

17.8%

20.8%

-3.0%

C2 Trading Volume and Market Share

C2 Volume: October

  • C2's ADV for the month was 274,198 contracts and total volume was 6.0 million contracts, decreases of 7 percent and 2 percent, respectively, from September 2015. 
  • When compared to October 2014's records in ADV and total volume, October 2015 ADV declined 43 percent and total volume declined 45 percent.    

C2 Trading Volume Current Month

Year-To-Date

(contracts in thousands)

Oct

2015

Oct 2014

%

Chg

Sept

2015

%

Chg

Oct

2015

Oct

2014

%

Chg

Trading Days

22

23

21

210

211

Total Exchange

6,032.4

11,067.8

-45%

6,167.8

-2%

67,466.0

68,498.2

-2%

Total Exchange ADV

274.2

481.2

-43%

293.7

-7%

321.3

324.6

-1%

Equity Options

1,928.8

1,395.0

38%

1,499.0

29%

19,888.1

9,354.5

113%

Equity Options ADV

87.7

60.7

45%

71.4

23%

94.7

44.3

114%

Index Options

195.8

108.3

81%

182.8

7%

1,385.5

432.1

221%

Index Options ADV

8.9

4.7

89%

8.7

2%

6.6

2.0

222%

ETP Options

3,907.7

9,564.5

-59%

4,486.0

-13%

46,192.4

58,711.6

-21%

ETP Options ADV

177.6

415.8

-57%

213.6

-17%

220.0

278.3

-21%

C2 Market Share: October

  • C2 market share of total industry volume in October was 1.7 percent, unchanged from September 2015 and a decrease of 0.6 percentage points from October 2014.

C2  Market Share Current Month

Year-To-Date

Oct 2015

Oct 2014

% Pt. Chg

Sept 2015

% Pt. Chg

Oct 2015

Oct 2014

% Pt. Chg

Total Exchange

1.7%

2.3%

-0.6%

1.7%

--

1.9%

1.9%

--

Equity Options

1.0%

0.6%

0.4%

1.0%

--

1.1%

0.5%

0.6%

Index Options

0.5%

0.2%

0.3%

0.4%

0.1%

0.4%

0.1%

0.3%

ETP Options

2.9%

4.8%

-1.9%

2.9%

--

3.6%

4.6%

-1.0%

CBOE Futures Exchange (CFE) Trading Volume

CFE Volume: October    

  • Total ADV at CFE was 181,760 contracts in October, a decrease of 28 percent from September 2015 and 44 percent from the record ADV in October 2014. Total volume at CFE for the month was 4.0 million contracts, down 24 percent from September 2015 and 46 percent from the record total volume a year ago.   
  • Total volume in CBOE Volatility Index® (VIX® Index) futures for October was 4.0 million contracts, down 24 percent from September 2015 and 46 percent from October 2014's all-time high. October VIX futures' ADV was 181,562 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:

Sept

2015

Aug

2015

July

2015

June 2015

Equity Options

$0.106

$0.104

$0.098

$0.093

Index Options

$0.709

$0.703

$0.702

$0.697

ETP Options

$0.143

$0.133

$0.123

$0.117

     Total Options Average Revenue Per Contract

$0.368

$0.352

$0.328

$0.308

Futures

$1.647

$1.661

$1.712

$1.758

     Total Average Revenue Per Contract

$0.431

$0.416

$0.391

$0.368

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.

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. Russell®, Russell 1000® and Russell 2000® are registered trademarks of Frank Russell Company, used under license. 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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