CBOE Holdings Reports May 2015 Trading Volume
-- Total Volume of 85.3 Million Contracts
-- ADV of 4.3 Million Contracts, Down 8% From Year Ago
CHICAGO, June 1, 2015 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that total trading volume during May for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options Exchange (C2) and futures contracts on CBOE Futures Exchange (CFE®) was 85.3 million contracts, a decrease of 7 percent from April 2015 and 12 percent from May 2014.
Total options and futures average daily volume (ADV) at CBOE Holdings during May was 4.3 million contracts, a decrease of 2 percent from April 2015 and 8 percent from May 2014.
| CBOE Holdings Consolidated Trading Volume |
Year-To-Date |
|||||||
| (Contracts in thousands) |
May 2015 |
May 2014 |
%Chg |
April 2015 |
% Chg |
May 2015 |
May 2014 |
% Chg |
| Trading Days |
20 |
21 |
21 |
102 |
103 |
|||
| Total Contracts (options & futures) |
85,286.9 |
97,077.2 |
-12% |
91,426.4 |
-7% |
467,397.6 |
547,066.7 |
-15% |
| Total Options Contracts (CBOE & C2) |
81,787.5 |
94,047.7 |
-13% |
88,040.5 |
-7% |
449,083.6 |
527,898.2 |
-15% |
| Total Futures Contracts (CFE) |
3,499.4 |
3,029.6 |
16% |
3,385.9 |
3% |
18,314.0 |
19,168.5 |
-4% |
| Total ADV (options & futures) |
4,264.4 |
4,622.8 |
-8% |
4,353.6 |
-2% |
4,582.3 |
5,311.3 |
-14% |
| Total Options ADV (CBOE & C2) |
4,089.4 |
4,478.5 |
-9% |
4,192.4 |
-2% |
4,402.8 |
5,125.2 |
-14% |
| Total Futures ADV (CFE) |
175.0 |
144.3 |
21% |
161.2 |
9% |
179.5 |
186.1 |
-4% |
CBOE Trading Volume and Market Share
CBOE Volume: May
- CBOE's ADV during the month was 3.8 million contracts, down 2 percent from April 2015 and 11 percent from May 2014. Exchange-wide trading volume totaled 75.3 million contracts, a decrease of 7 percent from the previous month and 15 percent from a year ago.
- During May, ADV in index options rose 11 percent from April 2015, while ADV in exchange-traded product (ETP) options and equity options declined 4 percent and 12 percent, respectively, from April 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) |
May 2015 |
May 2014 |
% Chg |
April 2015 |
% Chg |
May 2015 |
May 2014 |
% Chg |
| Trading Days |
20 |
21 |
21 |
102 |
103 |
|||
| Total Exchange |
75,312.9 |
88,428.8 |
-15% |
81,067.7 |
-7% |
416,034.6 |
497,719.9 |
-17% |
| Total Exchange ADV |
3,765.6 |
4,210.9 |
-11% |
3,860.4 |
-2% |
4,078.8 |
4,832.2 |
-17% |
| Equity Options |
27,973.0 |
35,189.9 |
-21% |
33,421.0 |
-16% |
166,065.9 |
204,402.2 |
-18% |
| Equity Options ADV |
1,398.7 |
1,675.7 |
-17% |
1,591.5 |
-12% |
1,628.1 |
1,984.5 |
-18% |
| Index Options |
28,271.3 |
30,566.9 |
-8% |
26,778.4 |
6% |
140,209.4 |
167,627.9 |
-18% |
| Index Options ADV |
1,413.6 |
1,455.6 |
-3% |
1,275.2 |
11% |
1,374.6 |
1,627.5 |
-18% |
| ETP Options |
19,068.6 |
22,672.0 |
-16% |
20,868.3 |
-9% |
109,759.2 |
125,689.8 |
-12% |
| ETP Options ADV |
953.4 |
1,079.6 |
-12% |
993.7 |
-4% |
1,076.1 |
1,220.3 |
-12% |
CBOE Market Share: May
- CBOE's market share of total U.S. options industry volume was 24.8 percent in May, an increase of 0.1 of a percentage point from April 2015 and a decrease of 3.2 percentage points from May 2014.
| CBOE Market Share Current Month |
Year-To-Date |
|||||||
| May 2015 |
May 2014 |
% Pt. Chg |
April 2015 |
% Pt. Chg |
May 2015 |
May 2014 |
% Pt. Chg |
|
| Total Exchange |
24.8% |
28.0% |
-3.2% |
24.7% |
0.1% |
25.6% |
28.3% |
-2.7% |
| Equity Options |
16.4% |
20.4% |
-4.0% |
17.6% |
-1.2% |
18.3% |
21.0% |
-2.7% |
| Index Options |
98.4% |
96.8% |
1.6% |
98.2% |
0.2% |
96.9% |
96.8% |
0.1% |
| ETP Options |
18.1% |
20.3% |
-2.2% |
18.9% |
-0.8% |
19.2% |
20.5% |
-1.3% |
C2 Trading Volume and Market Share
C2 Volume: May
- C2's May trading volume totaled 6.5 million contracts, a decrease of 7 percent from April 2015 and an increase of 15 percent from May 2014. ADV was 323,732 contracts, a 3-percent decrease from April 2015 and a 21-percent increase from May 2014.
| C2 Trading Volume Current Month |
Year-To-Date |
|||||||
| (contracts in thousands) |
May 2015 |
May 2014 |
% Chg |
April 2015 |
% Chg |
May 2015 |
May 2014 |
% Chg |
| Trading Days |
20 |
21 |
21 |
102 |
103 |
|||
| Total Exchange |
6,474.6 |
5,618.9 |
15% |
6,972.8 |
-7% |
33,049.1 |
30,178.3 |
10% |
| Total Exchange ADV |
323.7 |
267.6 |
21% |
332.0 |
-3% |
324.0 |
293.0 |
11% |
| Equity Options |
1,939.6 |
817.4 |
137% |
2,473.6 |
-22% |
10,031.7 |
4,094.8 |
145% |
| Equity Options ADV |
97.0 |
38.9 |
149% |
117.8 |
-18% |
98.3 |
39.8 |
147% |
| Index Options |
137.8 |
39.0 |
254% |
129.8 |
6% |
450.4 |
183.7 |
145% |
| Index Options ADV |
6.9 |
1.9 |
272% |
6.2 |
11% |
4.4 |
1.8 |
148% |
| ETP Options |
4,397.2 |
4,762.5 |
-8% |
4,369.3 |
1% |
22,567.0 |
25,899.8 |
-13% |
| ETP Options ADV |
219.9 |
226.8 |
-3% |
208.1 |
6% |
221.2 |
251.5 |
-12% |
C2 Market Share: May
- C2 market share of total industry volume in May was 2.1 percent, unchanged from April 2015 and up 0.3 of a percentage point from May 2014.
| C2 Market Share Current Month |
Year-To-Date |
|||||||
| May 2015 |
May 2014 |
% Pt. Chg |
April 2015 |
% Pt. Chg |
May 2015 |
May 2014 |
% Pt. Chg |
|
| Total Exchange |
2.1% |
1.8% |
0.3% |
2.1% |
--- |
2.0% |
1.7% |
0.3% |
| Equity Options |
1.1% |
0.5% |
0.6% |
1.3% |
-0.2% |
1.1% |
0.4% |
0.7% |
| Index Options |
0.5% |
0.1% |
0.4% |
0.5% |
--- |
0.3% |
0.1% |
0.2% |
| ETP Options |
4.2% |
4.3% |
-0.1% |
4.0% |
0.2% |
4.0% |
4.2% |
-0.2% |
CBOE Futures Exchange (CFE) Trading Volume
CFE Volume: May
- Total ADV at CFE was 174,972 contracts in May, a 9-percent increase from April 2015 and a 21-percent rise from May 2014. Total volume at CFE during the month was 3.5 million contracts, an increase of 3 percent from the previous month and 16 percent from the year-ago total.
- May average daily volume in CBOE Volatility Index® (VIX® Index) futures was 174,923 contracts, an increase of 9 percent from April 2015 and 22 percent from May 2014. Total volume in VIX futures for May was 3.5 million contracts, an increase of 3 percent from the previous month and 16 percent from a year ago.
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: |
Apr-15 |
Mar-15 |
Feb-15 |
Jan-15 |
| Equity Options |
$0.077 |
$0.077 |
$0.070 |
$0.069 |
| Index Options |
$0.707 |
$0.712 |
$0.704 |
$0.702 |
| ETP Options |
$0.115 |
$0.118 |
$0.115 |
$0.111 |
| Total Options Average Revenue Per Contract |
$0.280 |
$0.284 |
$0.283 |
$0.279 |
| Futures |
$1.762 |
$1.705 |
$1.649 |
$1.647 |
| Total Average Revenue Per Contract |
$0.336 |
$0.340 |
$0.340 |
$0.333 |
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). 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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