CHICAGO, July 6, 2022 /PRNewswire/ -- Cboe Global Markets,
Inc. (Cboe: CBOE), a leading provider of global market
infrastructure and tradable products, today reported June monthly
trading volume statistics across its global business lines and
provided guidance for selected revenue per contract/net revenue
capture metrics for the second quarter of 2022.
The data sheet "Cboe Global Markets Monthly Volume & RPC/Net
Revenue Capture Report" contains an overview of certain June
trading statistics and market share by business segment, volume in
select index products, and RPC/net capture, which is reported on a
one-month lag, across business lines.
Average Daily
Trading Volume by Month
|
Year-To-Date
|
|
|
|
|
|
|
|
|
|
June
2022
|
June
2021
|
%
Chg
|
May
2022
|
%
Chg
|
June
2022
|
June
2021
|
%
Chg
|
Multiply-listed options
(contracts, k)
|
10,255
|
10,232
|
0.2 %
|
10,691
|
-4.1 %
|
10,678
|
10,004
|
6.7 %
|
Index options
(contracts, k)
|
2,842
|
1,778
|
59.9 %
|
2,853
|
-0.4 %
|
2,545
|
1,869
|
36.2 %
|
Futures (contracts,
k)
|
201
|
182
|
10.3 %
|
248
|
-19.0 %
|
238
|
235
|
1.2 %
|
U.S. Equities -
On-Exchange (matched shares, mn)
|
1,634
|
1,500
|
9.0 %
|
1,851
|
-11.7 %
|
1,774
|
1,848
|
-4.0 %
|
U.S. Equities -
Off-Exchange (matched shares, mn)
|
83
|
76
|
10.1 %
|
104
|
-19.7 %
|
101
|
87
|
15.0 %
|
Canadian
Equities1 (matched shares, k)
|
33,799
|
41,751
|
-19.0 %
|
38,013
|
-11.1 %
|
38,550
|
59,285
|
-35.0 %
|
European Equities (€,
mn)
|
10,226
|
7,014
|
45.8 %
|
11,187
|
-8.6 %
|
11,863
|
7,405
|
60.2 %
|
EuroCCP Cleared Trades
(k)
|
116,357
|
95,209
|
22.2 %
|
128,981
|
-9.8 %
|
810,789
|
593,025
|
36.7 %
|
EuroCCP Net Settlements
(k)
|
839
|
824
|
1.9 %
|
892
|
-5.9 %
|
5,304
|
4,791
|
10.7 %
|
Australian
Equities2 (AUD, mn)
|
877
|
N/A
|
|
836
|
4.9 %
|
863
|
N/A
|
|
Japanese
Equities2 (JPY, bn)
|
147
|
N/A
|
|
111
|
32.1 %
|
149
|
N/A
|
|
Global FX ($,
mn)
|
40,521
|
33,646
|
20.4 %
|
40,457
|
0.2 %
|
40,769
|
34,739
|
17.4 %
|
1 Canadian Equities does not include
NEO.
|
2 Australian Equities and Japanese
Equities data reflects Cboe's acquisition of Cboe Asia Pacific
(formerly Chi-X Asia Pacific) effective on July 1, 2021.
|
ADV= Average Daily
Volume
|
ADNV= Average Daily
Notional Value
|
NM=Not
Meaningful
|
June and Second-Quarter 2022 Trading Volume
Highlights
U.S. Options
- S&P 500 Index (SPX) options set a new monthly ADV record of
2.3 million contracts, surpassing the previous record of 2.2
million in May 2022. Total volume for
the month reached nearly 48 million contracts.
- SPX Weeklys Tuesday- and Thursday-expiring options continued
their strong debut, with approximately 5.1 million Tuesdays options
and 4.4 million Thursdays options traded in June.
- Cboe opened its new trading floor in Chicago on June
6.
European Equities and Derivatives
- Cboe Europe Equities had an overall market share of 23.5
percent in June, the highest month since August 2018.
- Cboe BIDS Europe, Cboe's European block trading platform, had a
33 percent share of the LIS (large-in-scale) market, making it the
largest platform of its type (Source: big xyt).
- Cboe Europe Derivatives (CEDX) traded 1,872 contracts during
June, up from 1,475 during May.
Second-Quarter 2022 RPC/Net Revenue Capture Guidance
The projected RPC/net capture metrics for the second quarter of
2022 are estimated, preliminary and may change. There can be no
assurance that our final RPC for the three months ended
June 30, 2022, will not differ
materially from these projections.
(In USD unless
stated otherwise)
|
|
Two-Months
Ended
|
Three-Months
Ended
|
Product:
|
2Q
Projection
|
May-22
|
May-22
|
Apr-22
|
Mar-22
|
Feb-22
|
Multiply-Listed Options
(per contract)
|
0.066
|
0.067
|
0.067
|
0.066
|
0.067
|
0.066
|
Index
Options
|
0.884
|
0.880
|
0.870
|
0.863
|
0.857
|
0.850
|
Total
Options
|
0.234
|
0.229
|
0.221
|
0.211
|
0.210
|
0.210
|
Futures (per
contract)
|
1.697
|
1.675
|
1.675
|
1.667
|
1.637
|
1.625
|
U.S. Equities -
Exchange (per 100 touched shares)
|
0.020
|
0.017
|
0.018
|
0.018
|
0.017
|
0.019
|
U.S. Equities -
Off-Exchange (per 100 touched shares)
|
0.108
|
0.110
|
0.116
|
0.117
|
0.117
|
0.111
|
Canadian Equities (per
10,000 touched shares)
|
CAD
9.38
|
CAD 9.31
|
CAD 9.40
|
CAD 9.32
|
CAD 9.10
|
CAD 8.85
|
European Equities (per
matched notional value)
|
0.235
|
0.234
|
0.229
|
0.229
|
0.230
|
0.238
|
Australian Equities
(per matched notional value)
|
0.171
|
0.171
|
0.172
|
0.172
|
0.173
|
0.171
|
Japanese Equities (per
matched notional value)
|
0.258
|
0.249
|
0.244
|
0.242
|
0.228
|
0.257
|
Global FX (per one
million dollars traded)
|
2.705
|
2.713
|
2.696
|
2.685
|
2.674
|
2.723
|
EuroCCP Fee per Trade
Cleared
|
€
0.009
|
€ 0.009
|
€ 0.009
|
€ 0.009
|
€ 0.009
|
€ 0.010
|
EuroCCP Net Fee per
Settlement
|
€
0.796
|
€ 0.779
|
€ 0.809
|
€ 0.858
|
€ 0.924
|
€ 0.901
|
The above represents average revenue per contract (RPC) or net
capture based on a three-month rolling average. For Options and
Futures, the average RPC represents total net transaction fees
recognized for the period divided by total contracts traded during
the period for options exchanges: BZX Options, Cboe Options, C2
Options and EDGX Options; futures include contracts traded on Cboe
Futures Exchange, LLC (CFE). For U.S. Equities –
On-Exchange, "net capture per 100 touched shares" refers to
transaction fees less liquidity payments and routing and clearing
costs divided by the product of one-hundredth ADV of touched shares
on BZX, BYX, EDGX and EDGA and the number of trading days for the
period. For U.S. Equities – Off-Exchange, "net capture
per 100 touched shares" refers to transaction fees less OMS/EMS
costs and clearing costs divided by the product of one-hundredth
ADV of touched shares on BIDS Trading and the number of trading
days for the period. For Canadian Equities, "net capture per 10,000
touched shares" refers to transaction fees divided by the product
of one-ten thousandth ADV of shares for MATCHNow and the number of
trading days for the period (does not include NEO). For European
Equities, "net capture per matched notional value" refers to
transaction fees less liquidity payments in British pounds divided
by the product of ADNV in British pounds of shares matched on Cboe
Europe Equities and the number of trading days. For EuroCCP, "Fee
per Trade Cleared" refers to clearing fees divided by number of
non-interoperable trades cleared and "Net Fee per Settlement"
refers to settlement fees less direct costs incurred to settle
divided by the number of settlements executed after netting. For
Australian Equities, "net capture per matched notional value"
refers to transaction fees less liquidity payments in Australian
Dollars divided by the product of ADNV in Australian Dollars of
shares matched on Chi-X Australia and the number of trading days.
For Japanese Equities, "net capture per matched notional value"
refers to transaction fees less liquidity payments in Japanese Yen
divided by the product of ADNV in Japanese Yen of shares matched on
Chi-X Japan and the number of trading days. For Global FX,
"net capture per one million dollars traded" refers to
transaction fees less liquidity payments, if any, divided by the
Spot and SEF products of one-thousandth of ADNV traded on the Cboe
FX markets and the number of trading days, divided by two, which
represents the buyer and seller that are both charged on the
transaction. 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.
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE), a leading provider of market
infrastructure and tradable products, delivers cutting-edge
trading, clearing and investment solutions to market participants
around the world. The company is committed to operating a trusted,
inclusive global marketplace, providing leading products,
technology and data solutions that enable participants to define a
sustainable financial future. Cboe provides trading solutions and
products in multiple asset classes, including equities,
derivatives, FX and digital assets, across North America, Europe and Asia
Pacific. To learn more, visit www.cboe.com.
Media
Contacts
|
|
Analyst
Contact
|
|
|
|
Angela
Tu
|
Tim
Cave
|
|
Kenneth Hill,
CFA
|
+1-646-856-8734
|
+44 (0)
7593-506-719
|
|
+1-312-786-7559
|
atu@cboe.com
|
tcave@cboe.com
|
|
khill@cboe.com
|
CBOE-V
Cboe®, Cboe Global Markets®, Cboe Volatility
Index®, and VIX® are registered trademarks and
Cboe Futures ExchangeSM is a service mark of
Cboe Exchange, Inc. or its affiliates. Standard & Poor's®,
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or make any representation as to possible benefits from any
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Investors should undertake their own due diligence regarding their
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Nothing in this announcement should be considered a
solicitation to buy or an offer to sell any securities or futures
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or implied, including, without
limitation, any warranties as of
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timeliness, the results to be
obtained by recipients of the
products and services described herein, or
as to the ability of the indices referenced in this press release
to track the performance of their respective securities, generally,
or the performance of the indices referenced in this press release
or any subset of their respective securities, and shall not in any
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Markets, Inc. and its affiliates have not calculated, composed or
determined the constituents or weightings of the securities that
comprise the third-party indices referenced in this press release
and shall not in any way be liable for any inaccuracies or errors
in any of the indices referenced in this press release.
Options involve risk and are not suitable for all market
participants. Prior to buying or selling an option, a person should
review the Characteristics and Risks of Standardized Options
(ODD), which is required to be provided to all such persons.
Copies of the ODD are available from your broker or from The
Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606.
Futures trading is not suitable for all investors and
involves the risk of loss. That risk of loss can be substantial and
can exceed the amount of money deposited for a futures position.
You should, therefore, carefully consider whether futures trading
is suitable for you in light of your circumstances and financial
resources. You should put at risk only funds that you can afford to
lose without affecting your lifestyle. For additional information
regarding futures trading risks, see the Risk Disclosure
Statement set forth in Appendix A to CFTC Regulation
1.55(c) and the Risk Disclosure Statement for Security
Futures Contracts.
Cautionary Statements Regarding Forward-Looking
Information
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve a number of risks and uncertainties. You can identify
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could cause our actual results, level of activity, performance or
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We operate in a very competitive and rapidly changing
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actual results to differ materially from those contained in any
forward-looking statements.
Some factors that could cause actual results to differ
include: the loss of our right to exclusively list and trade
certain index options and futures products; economic, political and
market conditions; compliance with legal and regulatory
obligations; price competition and consolidation in our industry;
decreases in trading or clearing volumes, market data fees or a
shift in the mix of products traded on our exchanges; legislative
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that impact the quality and integrity of our indices; the impact of
the novel coronavirus ("COVID-19") pandemic; our ability to operate
our business without violating the intellectual property rights of
others and the costs associated with protecting our intellectual
property rights; our ability to minimize the risks, including our
credit and default risks, associated with operating a European
clearinghouse; our ability to accommodate trading and clearing
volume and transaction traffic, including significant increases,
without failure or degradation of performance of our systems;
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we clear transactions; challenges to our use of open source
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venue, separate from and not integrated with our registered
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ability of our compliance and risk management methods to
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detailed information about factors that may affect our actual
results to differ may be found in our filings with the SEC,
including in our Annual Report on Form 10-K for the year ended
December 31, 2021 and other filings
made from time to time with the SEC.
We do not undertake, and we expressly disclaim, any duty to
update any forward-looking statement whether as a result of new
information, future events or otherwise, except as required by law.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date
hereof.
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