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SYS-CON MEDIA Authors: Andreas Grabner, Liz McMillan, Dana Gardner, Elizabeth White, Cloud Best Practices Network

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CBOE Holdings Reports July 2014 Trading Volume

- ADV Up 12% Year to Date, Up 11% from July 2013

CHICAGO, Aug. 1, 2014 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that July 2014 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 108.89 million contracts. Average daily volume (ADV) was 4.95 million contracts, an 11-percent increase from July 2013 and a four-percent increase from June 2014.

CBOE Holdings, Inc. logo.

CBOE Holdings' year-to-date ADV was 5.18 million contracts, 12 percent ahead of the same period one year ago.

July was the second-most-active-month in total trading volume for futures on the CBOE Volatility Index® (VIX® index), up 48 percent from July 2013.

 

CBOE Holdings Consolidated Trading Volume

Year-To-Date

(trades in thousands)

Jul-14

Jul-13

% Chg

Jun-14

% Chg

Jul-14

Jul-13

% Chg

Trading Days

22

22


21


146

146


Total Contracts (options & futures)

108,885.7

98,162.0

11%

100,180.9

9%

756,133.4

677,494.5

12%

Total Options Contracts (CBOE & C2)

104,543.6

95,196.5

10%

96,523.9

8%

728,965.7

653,773.7

12%

Total Futures Contracts (CFE)

4,342.1

2,965.5

46%

3,657.0

19%

27,167.6

23,720.8

15%










Total ADV (options & futures)

4,949.4

4,461.9

11%

4,770.5

4%

5,179.0

4,640.4

12%

Total Options ADV (CBOE & C2)

4,752.0

4,327.1

10%

4,596.4

3%

4,992.9

4,477.9

12%

Total Futures ADV (CFE)

197.4

134.8

46%

174.1

13%

186.1

162.5

15%

CBOE Trading Volume and Market Share

CBOE Trading Volume:

  • CBOE's July ADV was 4.44 million contracts, a nine-percent increase from July 2013 and a three-percent increase from June 2014.
  • Index options ADV was 1.43 million contracts, a nine-percent increase from July 2013 and a five-percent decrease from June 2014.
  • Equity options ADV was 1.91 million contracts, a 14-percent increase from July 2013 and a 10-percent increase from June 2014.
  • Exchange traded product (ETP) options ADV was 1.10 million contracts, a two-percent increase from July 2013 and a four-percent increase from June 2014.
  • The five most actively traded index and ETP options at CBOE in July were options on S&P 500® Index (SPX), CBOE Volatility Index® (VIX® Index), Standard & Poor's Depositary Receipt (SPY), iShares Trust - Russell 2000® Index Fund (IWM) and iPath S&P 500 VIX Short-Term Futures ETN (VXX).

 

CBOE Trading Volume Current Month

Year-To-Date

(trades in thousands)

Jul-14

Jul-13

% Chg

Jun-14

% Chg

Jul-14

Jul-13

% Chg

Trading Days

22

22


21


146

146


Total Exchange

97,665.5

89,475.0

9%

90,294.5

8%

685,679.9

607,847.6

13%

Total Exchange ADV

4,439.3

4,067.0

9%

4,299.7

3%

4,696.4

4,163.3

13%

Equity Options

42,011.1

36,992.1

14%

36,505.2

15%

282,918.5

227,207.5

25%

Equity Options ADV

1,909.6

1,681.5

14%

1,738.3

10%

1,937.8

1,556.2

25%

Index Options

31,527.7

28,881.5

9%

31,616.9

0%

230,772.5

217,576.9

6%

Index Options ADV

1,433.1

1,312.8

9%

1,505.6

-5%

1,580.6

1,490.3

6%

ETP Options

24,126.7

23,601.4

2%

22,172.3

9%

171,988.8

163,063.2

5%

ETP Options ADV

1,096.7

1,072.8

2%

1,055.8

4%

1,178.0

1,116.9

5%

 

Expanded July 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 27.5 percent in July 2014, a decrease of 0.1 of a percentage point from July 2013 and a decrease of 0.6 of a percentage point from June 2014.

 

CBOE Market Share Current Month

Year-To-Date


Jul-14

Jul-13

% Pt. Chg

Jun-14

% Pt.  Chg

Jul-14

Jul-13

% Pt Chg

Total Exchange

27.5%

27.6%

-0.1%

28.1%

-0.6%

28.1%

24.9%

3.2%

Equity Options

20.0%

20.5%

-0.5%

20.1%

-0.1%

20.7%

17.1%

3.6%

Index Options

95.5%

97.6%

-2.1%

95.7%

-0.2%

96.5%

95.9%

0.6%

ETF Options

21.5%

20.6%

0.9%

20.8%

0.7%

20.7%

18.5%

2.2%

C2 Trading Volume and Market Share

C2 Trading Volume:

C2's July trading volume totaled 6.88 million contracts. ADV was 312,600 contracts, a 20-percent increase from July 2013 and a five-percent increase from June 2014.

 

C2 Trading Volume Current Month

Year-To-Date

(trades in thousands)

Jul-14

Jul-13

% Chg

Jun-14

% Chg

Jul-14

Jul-13

% Chg

Trading Days

22

22


21


146

146


Total Exchange

6,878.1

5,721.5

20%

6,229.5

10%

43,285.9

45,926.1

-6%

Total Exchange ADV

312.6

260.1

20%

296.6

5%

296.5

314.6

-6%

Equity Options

985.4

1,157.7

-15%

816.0

21%

5,896.3

9,547.3

-38%

Equity Options ADV

44.8

52.6

-15%

38.9

15%

40.4

65.4

-38%

Index Options*

40.3

--

--

25.0

61%

249.0

136.3

nm

Index Options ADV*

1.8

--

--

1.2

54%

1.7

0.9

nm

ETP Options

5,852.4

4,563.8

28%

5,388.4

9%

37,140.6

36,242.5

2%

ETP Options ADV

266.0

207.4

28%

256.6

4%

254.4

248.2

2%

*Russell 2000 Index options began trading on C2 on September 3, 2013.  2013 year-to-date index options include SPXpmSM, which traded on C2 until it was moved to CBOE on February 17, 2013.

nm – not meaningful

C2 Market Share:

C2 market share of total industry volume in July 2014 was 1.9 percent, an increase of 0.1 of a percentage point from July 2013 and even with market share in June 2014.

 

C2  Market Share Current Month

Year-To-Date


Jul-14

Jul-13

% Pt. Chg

Jun-14

% Pt. Chg

Jul-14

Jul-13

% Pt. Chg

Total Exchange

1.9%

1.8%

0.1%

1.9%

--

1.8%

1.9%

-0.1%

Equity Options

0.5%

0.6%

-0.1%

0.4%

0.1%

0.4%

0.7%

-0.3%

Index Options

0.1%

--

nm

0.1%

--

0.1%

0.1%

--

ETP Options

5.2%

4.0%

1.2%

5.0%

0.2%

4.5%

4.1%

0.4%

nm – not meaningful

CBOE Futures Exchange (CFE) Trading Volume and Highlights

  • VIX futures volume for July totaled 4.33 million contracts, making July its second-most-active month ever in terms of trading volume. Monthly volume was a 48-percent increase from year-ago volume and a 19-percent increase from June 2014 volume.    
  • VIX futures ADV was 196,990 contracts, up 48 percent from a year ago and up 13 percent from June.
  • Volume in VIX futures outside of regular U.S. trading hours averaged more than 19,000 contracts per day in July, accounting for approximately 10 percent of CFE's total daily volume. 
  • On August 1, CFE reported record trading volume in VIX futures during non-U.S. trading hours, with an estimated 68,033 contracts changing hands overnight. Today's record surpassed the previous record in non-U.S. trading hours of 59,505 contracts set on July 10, 2014.

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:

Jun-14

May-14

Apr-14

Mar-14

Equity Options

$0.079

$0.081

$0.082

$0.081

Index Options

$0.670

$0.674

$0.674

$0.669

ETP Options

$0.111

$0.113

$0.113

$0.117

     Total Options Average Revenue Per Contract

$0.275

$0.275

$0.277

$0.281

Futures

$1.639

$1.616

$1.610

$1.617

     Total Average Revenue Per Contract

$0.322

$0.321

$0.325

$0.329

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, SPXSM, SPXpmSM, The Options Institute and Weeklys 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 Russell Investments, 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.

Logo - http://photos.prnewswire.com/prnh/20121022/MM97794LOGO-a

 

SOURCE CBOE Holdings, Inc.

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