CBOE Holdings Reports March 2015 Trading Volume
- Total Volume of 94.9 Million Contracts Traded
- ADV of 4.3 Million Contacts Down From Prior Month, Year Ago
CHICAGO, April 1, 2015 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that total trading volume during March for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options ExchangeSM (C2SM) and futures contracts on CBOE Futures Exchange (CFE®) was 94.9 million contracts, an increase of seven percent versus February 2015 and a decrease of 12 percent from March 2014.
Total options and futures average daily volume (ADV) at CBOE Holdings during March was 4.3 million contracts, a decrease of seven percent from February 2015 and a decrease of 16 percent from March 2014.
| CBOE Holdings Consolidated Trading Volume |
Year-To-Date |
|||||||
| (Contracts in thousands) |
Mar 2015 |
Mar 2014 |
% Chg |
Feb 2015 |
% Chg |
Mar 2015 |
Mar 2014 |
% Chg |
| Trading Days |
22 |
21 |
19 |
61 |
61 |
|||
| Total Contracts (options & futures) |
94,937.1 |
107,862.8 |
-12% |
88,507.4 |
7% |
290,684.3 |
342,817.3 |
-15% |
| Total Options Contracts (CBOE & C2) |
91,248.7 |
104,001.7 |
-12% |
85,340.9 |
7% |
279,255.7 |
330,425.6 |
-15% |
| Total Futures Contracts (CFE) |
3,688.4 |
3,861.1 |
-4% |
3,166.5 |
16% |
11,428.6 |
12,391.7 |
-8% |
| Total ADV (options & futures) |
4,315.4 |
5,136.4 |
-16% |
4,658.3 |
-7% |
4,765.4 |
5,620.9 |
-15% |
| Total Options ADV (CBOE & C2) |
4,147.7 |
4,952.5 |
-16% |
4,491.6 |
-8% |
4,578.0 |
5,416.8 |
-15% |
| Total Futures ADV (CFE) |
167.7 |
183.9 |
-9% |
166.7 |
1% |
187.4 |
203.1 |
-8% |
CBOE Trading Volume and Market Share
CBOE Volume: March
- CBOE's ADV during the month was 3.8 million contracts, down eight percent from February 2015 and down 18 percent from March 2014. Exchange-wide trading volume totaled 84.4 million contracts, an increase of six percent from the previous month and a decline of 15 percent from a year ago.
- During the month, ADV in exchange-traded product (ETP) options increased two percent, index options declined eight percent and equity options declined 14 percent from February 2015.
- 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) |
Mar 2015 |
Mar 2014 |
% Chg |
Feb 2015 |
% Chg |
Mar 2015 |
Mar 2014 |
% Chg |
| Trading Days |
22 |
21 |
19 |
61 |
61 |
|||
| Total Exchange |
84,445.3 |
98,820.4 |
-15% |
79,692.6 |
6% |
259,654.0 |
312,424.6 |
-17% |
| Total Exchange ADV |
3,838.4 |
4,705.7 |
-18% |
4,194.3 |
-8% |
4,256.6 |
5,121.7 |
-17% |
| Equity Options |
33,439.1 |
40,864.1 |
-18% |
33,769.4 |
-1% |
104,671.8 |
129,833.2 |
-19% |
| Equity Options ADV |
1,520.0 |
1,945.9 |
-22% |
1,777.3 |
-14% |
1,715.9 |
2,128.4 |
-19% |
| Index Options |
27,682.4 |
32,773.9 |
-16% |
26,125.8 |
6% |
85,159.8 |
106,583.5 |
-20% |
| Index Options ADV |
1,258.3 |
1,560.7 |
-19% |
1,375.0 |
-8% |
1,396.1 |
1,747.3 |
-20% |
| ETP Options |
23,323.8 |
25,182.5 |
-7% |
19,797.3 |
18% |
69,822.3 |
76,007.8 |
-8% |
| ETP Options ADV |
1,060.2 |
1,199.2 |
-12% |
1,042.0 |
2% |
1,144.6 |
1,246.0 |
-8% |
CBOE Market Share: March
- CBOE's market share of total U.S. options industry volume was 25.1 percent in March 2015, a decrease of 1.2 percentage points from February 2015 and a decrease of 2.7 percentage points from March 2014.
| CBOE Market Share Current Month |
Year-To-Date |
|||||||
| Mar 2015 |
Mar 2014 |
% Pt. Chg |
Feb 2015 |
% Pt. Chg |
Mar 2015 |
Mar 2014 |
% Pt. Chg |
|
| Total Exchange |
25.1% |
27.8% |
-2.7% |
26.3% |
-1.2% |
26.2% |
28.7% |
-2.5% |
| Equity Options |
18.6% |
21.1% |
-2.5% |
19.3% |
-0.7% |
19.1% |
21.4% |
-2.3% |
| Index Options |
96.0% |
96.6% |
-0.6% |
95.8% |
0.2% |
96.0% |
97.1% |
-1.1% |
| ETP Options |
18.2% |
19.7% |
-1.5% |
19.7% |
-1.5% |
19.6% |
20.4% |
-0.8% |
C2 Trading Volume and Market Share
C2 Volume: March
- C2's March trading volume totaled 6.8 million contracts, up 20 percent from February 2015 and up 31 percent from March 2014. ADV was 309,244 contracts, a four-percent increase from February 2015 and a 25-percent increase from March 2014.
| C2 Trading Volume Current Month |
Year-To-Date |
|||||||
| (contracts in thousands) |
Mar 2015 |
Mar 2014 |
% Chg |
Feb 2015 |
% Chg |
Mar 2015 |
Mar 2014 |
% Chg |
| Trading Days |
22 |
21 |
19 |
61 |
61 |
|||
| Total Exchange |
6,803.4 |
5,181.2 |
31% |
5,648.3 |
20% |
19,601.7 |
18,001.0 |
9% |
| Total Exchange ADV |
309.2 |
246.7 |
25% |
297.3 |
4% |
321.3 |
295.1 |
9% |
| Equity Options |
1,923.0 |
739.0 |
160% |
1,823.3 |
5% |
5,618.5 |
2,237.6 |
151% |
| Equity Options ADV |
87.4 |
35.2 |
148% |
96.0 |
-9% |
92.1 |
36.7 |
151% |
| Index Options |
72.5 |
36.5 |
98% |
43.3 |
67% |
182.7 |
106.0 |
72% |
| Index Options ADV |
3.3 |
1.7 |
89% |
2.3 |
44% |
3.0 |
1.7 |
72% |
| ETP Options |
4,807.8 |
4,405.7 |
9% |
3,781.7 |
27% |
13,800.5 |
15,657.3 |
-12% |
| ETP Options ADV |
218.5 |
209.8 |
4% |
199.0 |
10% |
226.2 |
256.7 |
-12% |
C2 Market Share: March
- C2 market share of total industry volume in March 2015 was 2.0 percent, up 0.1 of a percentage point from February 2015 and a gain of 0.5 of a percentage point from March 2014.
| C2 Market Share Current Month |
Year-To-Date |
|||||||
| Mar 2015 |
Mar 2014 |
% Pt. Chg |
Feb 2015 |
% Pt. Chg |
Mar 2015 |
Mar 2014 |
% Pt. Chg |
|
| Total Exchange |
2.0% |
1.5% |
0.5% |
1.9% |
0.1% |
2.0% |
1.7% |
0.3% |
| Equity Options |
1.1% |
0.4% |
0.7% |
1.0% |
0.1% |
1.0% |
0.4% |
0.6% |
| Index Options |
0.3% |
0.1% |
0.2% |
0.2% |
0.1% |
0.2% |
0.1% |
0.1% |
| ETP Options |
3.7% |
3.4% |
0.3% |
3.8% |
-0.1% |
3.9% |
4.2% |
-0.3% |
CBOE Futures Exchange (CFE) Trading Volume
CFE Volume: March
- March exchange-wide ADV at CFE was 167,656 contracts, a one-percent increase from February 2015 and a nine-percent decrease from March 2014. Exchange-wide total volume during the month was 3.7 million contracts, a 16-percent increase from the previous month and a four-percent decrease from a year ago.
- March ADV in futures on the CBOE Volatility Index® (VIX® Index) was 167,591 contracts, an increase of one percent from February 2015 and a decrease of nine percent from March 2014. Total volume in VIX futures for March was 3.7 million contracts, up 17 percent from the previous month and down four percent from a year ago.
CBOE Holdings Average Revenue Per Contract
The following represents average transaction fee per contract based on a three-month rolling average, reported on a one-month lag. The average transaction fee 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: |
Feb-15 |
Jan-15 |
Dec-14 |
Nov-14 |
| Equity Options |
$0.070 |
$0.069 |
$0.068 |
$0.074 |
| Index Options |
$0.704 |
$0.702 |
$0.696 |
$0.692 |
| ETP Options |
$0.115 |
$0.111 |
$0.105 |
$0.107 |
| Total Options Average Revenue Per Contract |
$0.283 |
$0.279 |
$0.284 |
$0.279 |
| Futures |
$1.649 |
$1.647 |
$1.616 |
$1.628 |
| Total Average Revenue Per Contract |
$0.340 |
$0.333 |
$0.340 |
$0.331 |
About CBOE Holdings:
CBOE Holdings, Inc. (NASDAQ: CBOE) is the holding company for Chicago Board Options Exchange, Incorporated (CBOE), CBOE Futures Exchange, LLC (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 S&P 500 options (SPX), the most active U.S. index option, and options and futures on the CBOE Volatility Index (the VIX Index). Other products engineered by CBOE include equity options, security index options, Weeklys options, LEAPS options, FLEX options, and benchmark products such as the CBOE S&P 500 BuyWrite Index (BXM). CBOE Holdings is home to the world-renowned Options Institute 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®, LEAPS®, 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). C2SM and C2 Options ExchangeSM are service marks of C2 Options Exchange, Incorporated (C2). Russell 2000® is a registered trademark of Frank Russell Company, used under license. 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, C2 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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