-- 2014 Volume Will Be Highest Ever
CHICAGO, Dec. 1, 2014 /PRNewswire/ -- CBOE Holdings, Inc. CBOE reported today that trading volume for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options ExchangeSM (C2SM) and futures contracts on CBOE Futures ExchangeSM (CFE®) totaled 85.57 million contracts in November. Average daily volume (ADV) was 4.50 million contracts, a two-percent decrease from November 2013 and a 36-percent decrease from October 2014, the busiest month ever in CBOE Holdings' history.
ADV through November is up 11 percent from the same period one year ago. With one month remaining in 2014, CBOE Holdings year-to-date volume has already matched 2011's record annual volume of 1.21 billion contracts.
|
CBOE Holdings Consolidated Trading Volume |
Year to Date | |||||||
|
(Contracts in thousands) |
Nov-14 |
Nov-13 |
% Chg |
Oct-14 |
% Chg |
Nov-14 |
Nov-13 |
% Chg |
|
Trading Days |
19 |
20 |
23 |
230 |
231 |
|||
|
Total Contracts (options & futures) |
85,574.4 |
91,904.6 |
-7% |
163,075.6 |
-48% |
1,212,831.6 |
1,092,837.1 |
11% |
|
Total Options Contracts (CBOE & C2) |
82,903.4 |
89,343.2 |
-7% |
155,616.9 |
-47% |
1,167,209.2 |
1,055,844.9 |
11% |
|
Total Futures Contracts (CFE) |
2,671.0 |
2,561.4 |
4% |
7,458.7 |
-64% |
45,622.4 |
36,992.2 |
23% |
|
Total ADV (options & futures) |
4,503.9 |
4,595.2 |
-2% |
7,090.2 |
-36% |
5,273.2 |
4,730.9 |
11% |
|
Total Options ADV (CBOE & C2) |
4,363.3 |
4,467.1 |
-2% |
6,765.9 |
-36% |
5,074.8 |
4,570.8 |
11% |
|
Total Futures ADV (CFE) |
140.6 |
128.1 |
10% |
324.3 |
-57% |
198.4 |
160.1 |
24% |
CBOE Trading Volume and Market Share
CBOE Trading Volume:
- CBOE's November volume totaled 77.04 million contracts, and ADV was 4.05 million contracts, a three-percent decrease from November 2013 and a 35-percent decrease from October's ADV, which was an all-time high.
- Index options ADV was 1.27 million contracts, a two-percent decrease from November 2013 and a 45-percent decrease from record monthly ADV in October.
- Exchange traded product (ETP) options ADV was 979,100 contracts, even with November 2013 and a 48-percent decrease from October.
- Equity options ADV was 1.81 million contracts, a five-percent decrease from November 2013 and a 14-percent decrease from October.
- The five most actively traded index and ETP options at CBOE in November were options on the S&P 500 Index (SPX), Standard & Poor's Depositary Receipt (SPY), CBOE Volatility Index® (VIX® Index), iShares Trust - Russell 2000® Index Fund (IWM) and PowerShares QQQ Trust (QQQ).
|
CBOE Trading Volume Current Month |
Year to Date | |||||||
|
(contracts in thousands) |
Nov-14 |
Nov-13 |
% Chg |
Oct-14 |
% Chg |
Nov-14 |
Nov-13 |
% Chg |
|
Trading Days |
19 |
20 |
23 |
230 |
231 |
|||
|
Total Exchange |
77,043.6 |
83,669.8 |
-8% |
144,549.1 |
-47% |
1,092,851.1 |
984,990.4 |
11% |
|
Total Exchange ADV |
4,054.9 |
4,183.5 |
-3% |
6,284.7 |
-35% |
4,751.5 |
4,264.0 |
11% |
|
Equity Options |
34,328.1 |
38,089.9 |
-10% |
48,592.1 |
-29% |
439,306.6 |
384,278.6 |
14% |
|
Equity Options ADV |
1,806.7 |
1,904.5 |
-5% |
2,112.7 |
-14% |
1,910.0 |
1,663.5 |
15% |
|
Index Options |
24,112.6 |
25,911.5 |
-7% |
52,751.9 |
-54% |
370,478.0 |
342,968.6 |
8% |
|
Index Options ADV |
1,269.1 |
1,295.6 |
-2% |
2,293.6 |
-45% |
1,610.8 |
1,484.7 |
8% |
|
ETP Options |
18,602.9 |
19,668.5 |
-5% |
43,205.1 |
-57% |
283,066.5 |
257,743.2 |
10% |
|
ETP Options ADV |
979.1 |
983.4 |
0% |
1,878.5 |
-48% |
1,230.7 |
1,115.8 |
10% |
Expanded November 2014 and year-to-date volume information for CBOE index and ETP options is available at: www.cboe.com/data/monthlyvolume.aspx.
CBOE Market Share:
CBOE's market share of total U.S. options industry volume was 26.1 percent in November 2014, a decrease of 0.5 of a percentage point from November 2013 and a decrease of 3.3 percentage points from October.
|
CBOE Market Share Current Month |
Year to Date | |||||||
|
Nov-14 |
Nov-13 |
% Pt. Chg |
Oct-14 |
% Pt. Chg |
Nov-14 |
Nov-13 |
% Pt. Chg | |
|
Total Exchange |
26.1% |
26.6% |
-0.5% |
29.4% |
-3.3% |
27.9% |
26.0% |
1.9% |
|
Equity Options |
19.5% |
19.9% |
-0.4% |
20.6% |
-1.1% |
20.3% |
18.4% |
1.9% |
|
Index Options |
97.2% |
97.5% |
-0.3% |
96.7% |
0.5% |
96.5% |
96.6% |
-0.1% |
|
ETP Options |
19.7% |
20.3% |
-0.6% |
21.5% |
-1.8% |
20.7% |
19.2% |
1.5% |
C2 Trading Volume and Market Share
C2 Trading Volume:
C2 November trading volume totaled 5.86 million contracts. ADV was 308,400 contracts, a nine-percent increase from November 2013 and a 36-percent decrease from October 2014's all-time-high ADV.
|
C2 Trading Volume Current Month |
Year to Date | |||||||
|
(contracts in thousands) |
Nov-14 |
Nov-13 |
% Chg |
Oct-14 |
% Chg |
Nov-14 |
Nov-13 |
% Chg |
|
Trading Days |
19 |
20 |
23 |
230 |
231 |
|||
|
Total Exchange |
5,859.9 |
5,673.4 |
3% |
11,067.8 |
-47% |
74,358.1 |
70,854.5 |
5% |
|
Total Exchange ADV |
308.4 |
283.7 |
9% |
481.2 |
-36% |
323.3 |
306.7 |
5% |
|
Equity Options |
1,063.5 |
994.2 |
7% |
1,395.0 |
-24% |
10,418.0 |
13,986.0 |
-26% |
|
Equity Options ADV |
56.0 |
49.7 |
13% |
60.7 |
-8% |
45.3 |
60.5 |
-25% |
|
Index Options |
46.2 |
18.4 |
151% |
108.3 |
-57% |
478.3 |
192.4 |
149% |
|
Index Options ADV |
2.4 |
0.9 |
165% |
4.7 |
-48% |
2.1 |
0.8 |
150% |
|
ETP Options |
4,750.2 |
4,660.8 |
2% |
9,564.5 |
-50% |
63,461.8 |
56,676.0 |
12% |
|
ETP Options ADV |
250.0 |
233.0 |
7% |
415.8 |
-40% |
275.9 |
245.4 |
12% |
C2 Market Share:
C2 market share of total industry volume in November 2014 was two percent, an increase of 0.2 of a percentage point from November 2013 and a decrease of 0.3 of a percentage point from October.
|
C2 Market Share Current Month |
Year to Date | |||||||
|
Nov-14 |
Nov-13 |
% Pt. Chg |
Oct-14 |
% Pt. Chg |
Nov-14 |
Nov-13 |
% Pt. Chg | |
|
Total Exchange |
2.0% |
1.8% |
0.2% |
2.3% |
-0.3% |
1.9% |
1.9% |
-- |
|
Equity Options |
0.6% |
0.5% |
0.1% |
0.6% |
-- |
0.5% |
0.7% |
-0.2% |
|
Index Options |
0.2% |
0.1% |
0.1% |
0.2% |
-- |
0.1% |
0.1% |
-- |
|
ETP Options |
5.0% |
4.8% |
0.2% |
4.8% |
0.2% |
4.7% |
4.2% |
0.5% |
CBOE Futures Exchange Trading Volume and Highlights
- November ADV for VIX futures was 140,325 contracts, up 11 percent from November 2013 and down 57 percent from October's record ADV.
- Through the end of November, VIX futures volume and ADV were up 24 percent from the same period a year ago.
CBOE Holdings Average Revenue Per Contract
The following represents the 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 on all three exchanges during the period. Average revenue 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-14 |
Sep-14 |
Aug-14 |
Jul-14 |
|
Equity Options |
$0.078 |
$0.077 |
$0.076 |
$0.074 |
|
Index Options |
$0.690 |
$0.680 |
$0.677 |
$0.671 |
|
ETP Options |
$0.112 |
$0.115 |
$0.114 |
$0.112 |
|
Total Options Average Revenue Per Contract |
$0.288 |
$0.275 |
$0.281 |
$0.275 |
|
Futures |
$1.598 |
$1.625 |
$1.631 |
$1.651 |
|
Total Average Revenue Per Contract |
$0.344 |
$0.329 |
$0.336 |
$0.324 |
About CBOE Holdings
CBOE Holdings, Inc. 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, SPXSM, 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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