Cboe Mini-SPX (XSP) options set new monthly total volume, ADV
and open interest records in June
Cboe repaid 1.950% Senior Notes due 2019 with cash on hand
CHICAGO, July 3, 2019 /PRNewswire/ -- Cboe Global Markets,
Inc. (Cboe: CBOE), one of the world's largest exchange holding
companies, today reported June monthly trading volume and provided
selected revenue per contract (RPC) guidance for the second quarter
of 2019.
The data sheet "Cboe Global Markets Monthly Volume & RPC/Net
Revenue Capture Report" contains an overview of June and
year-to-date trading statistics and market share by business
segment, volume in select index products, and RPC, which is
reported on a one-month lag, across business
lines.
MONTHLY TRADING
VOLUME
|
Year-To-Date
|
|
June
|
June
|
%
|
May
|
%
|
June
|
June
|
%
|
2019
|
2018
|
Chg
|
2019
|
Chg
|
2019
|
2018
|
Chg
|
OPTIONS (contracts,
thousands)
|
Year-To-Date
|
Trading
Days
|
20
|
21
|
|
22
|
|
124
|
125
|
|
Total
Volume
|
141,989
|
148,155
|
-4.2%
|
178,540
|
-20.5%
|
888,274
|
1,008,700
|
-11.9%
|
Total
ADV
|
7,099
|
7,055
|
0.6%
|
8,115
|
-12.5%
|
7,163
|
8,070
|
-11.2%
|
FUTURES (contracts,
thousands)
|
Year-To-Date
|
Trading
Days
|
20
|
21
|
|
22
|
|
124
|
125
|
|
Total
Volume
|
4,132
|
5,661
|
-27.0%
|
7,514
|
-45.0%
|
30,326
|
38,941
|
-22.1%
|
Total
ADV
|
207
|
270
|
-23.4%
|
342
|
-39.5%
|
245
|
312
|
-21.5%
|
U.S. EQUITIES
(shares, millions)
|
Year-To-Date
|
Trading
Days
|
20
|
21
|
|
22
|
|
124
|
125
|
|
Total
Volume
|
22,039
|
27,028
|
-18.5%
|
25,199
|
-12.5%
|
142,148
|
172,938
|
-17.8%
|
Total ADV
|
1,102
|
1,287
|
-14.4%
|
1,145
|
-3.8%
|
1,146
|
1,384
|
-17.1%
|
EUROPEAN EQUITIES (€
millions)
|
Year-To-Date
|
Trading
Days
|
20
|
21
|
|
23
|
|
126
|
127
|
|
Total Notional
Value
|
€ 157,399
|
€ 228,970
|
-31.3%
|
€ 186,892
|
-15.8%
|
€
1,101,199
|
€
1,353,588
|
-18.6%
|
Total ADNV
|
€ 7,870
|
€ 10,903
|
-27.8%
|
€ 8,126
|
-3.1%
|
€ 8,740
|
€ 10,658
|
-18.0%
|
GLOBAL FX ($
millions)
|
Year-To-Date
|
Trading
Days
|
20
|
21
|
|
23
|
|
128
|
129
|
|
Total Notional
Value
|
$661,640
|
$793,695
|
-16.6%
|
$760,188
|
-13.0%
|
$4,414,111
|
$5,157,063
|
-14.4%
|
Total ADNV
|
$33,082
|
$37,795
|
-12.5%
|
$33,052
|
0.1%
|
$34,485
|
$39,977
|
-13.7%
|
|
ADV= average daily
volume
|
ADNV= average daily
notional value
|
Mini-SPX Options Trading Records Set in June
The Cboe Mini-SPX option contract (ticker symbol XSP), is an index
option product designed to track the underlying S&P 500 Index.
Mini-SPX options trading set a new monthly record in June 2019 with more than 2.15 million contracts
traded, surpassing the previous record set in May 2019 of 1.55 million contracts. Average daily
volume (ADV) also reached a new all-time high in June 2019 with 107,745 contracts, up 50.8 percent
from the previous high set in April
2019. Open interest for the product reached a new all-time
high of 3.02 million contracts in June
2019, continuing the upward trend from May 2019's previous
record of 2.35 million.
Mini-SPX options are 1/10th the size of the standard
S&P 500 Index (SPX) options contract. Cboe lists Mini-SPX
options on both Cboe Options Exchange and Cboe EDGX Options
Exchange. For more information, visit www.cboe.com/XSP.
Second-Quarter 2019 Selected RPC Guidance
The company currently expects average RPC for total options and
multi-listed options for the second quarter of 2019 to be in line
with the amounts noted below for the two months ended May 31, 2019. RPC for index options for the
second quarter is expected to be 0.5 percent to 1.0 percent above
the two-month average noted below, reflecting a higher mix of SPX
options contracts in June relative to the volume mix for the two
months ended May 31, 2019. The RPC
for futures for the second quarter is expected to be in 0.5 percent
to 1.0 percent higher than the two-month average noted below,
reflecting lower volume-related rebates in June. These expectations
are estimated, preliminary and may change. There can be no
assurance that our final RPC for the three months ended
June 30, 2019, will not differ
materially from these expectations.
The following represents average RPC based on a two-month and a
three-month rolling average, reported on a one-month lag. The
average RPC represents total transaction fees for Cboe, C2, BZX,
EDGX Options Exchanges and Cboe Futures Exchange (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)
|
Two-
Months
Ended
|
2Q19
Guidance vs.
Two-month Avg
|
Three-Months
Ended
|
Product:
|
May-19
|
|
May-19
|
Apr-19
|
Mar-18
|
Feb-18
|
Multiply-Listed
Options (Cboe, C2, BZX, EDGX)
|
$0.058
|
In line
|
$0.059
|
$0.061
|
$0.067
|
$0.074
|
Index Options (Cboe
and C2)
|
$0.731
|
0.5% to 1.0%
above
|
$0.728
|
$0.724
|
$0.730
|
$0.745
|
Total Options Average
Revenue Per Contract
|
$0.239
|
In line
|
$0.238
|
$0.233
|
$0.240
|
$0.262
|
Futures
(CFE)
|
$1.731
|
0.5% to 1.0%
above
|
$1.731
|
$1.761
|
$1.739
|
$1.735
|
Debt Repayment
The company stated that it repaid $300
million in aggregate principal amount of its 1.950% Senior
Notes, maturing on June 28, 2019,
with cash on hand.
About Cboe Global Markets, Inc.
Cboe Global Markets, Inc. (Cboe: CBOE) is one of the world's
largest exchange holding companies, offering cutting-edge trading
and investment solutions to investors around the world. The company
is committed to relentless innovation, connecting global markets
with world-class technology, and providing seamless solutions that
enhance the customer experience.
Cboe offers trading across a diverse range of products in
multiple asset classes and geographies, including options, futures,
U.S. and European equities, exchange-traded products (ETPs), global
foreign exchange (FX) and multi-asset volatility products based on
the Cboe Volatility Index (VIX Index), the world's barometer for
equity market volatility.
Cboe's trading venues include the largest options exchange in
the U.S. and the largest stock exchange by value traded in
Europe. In addition, the company is one of the largest stock
exchange operators in the U.S. and is a leading market globally for
ETP trading.
The company is headquartered in Chicago with offices in Kansas City, New
York, London, San Francisco, Singapore, Hong
Kong and Quito,
Ecuador. For more information, visit www.cboe.com.
Media
Contacts
|
|
Analyst
Contact
|
Suzanne
Cosgrove
|
Angela
Tu
|
Stacie
Fleming
|
|
Debbie
Koopman
|
+1-312-786-7123
|
+1-646-856-8734
|
+44-20-7012-8950
|
|
+1-312-786-7136
|
scosgrove@cboe.com
|
atu@cboe.com
|
sfleming@cboe.com
|
|
dkoopman@cboe.com
|
CBOE-V
BZX®, Cboe®, Cboe Volatility Index®, CFE®,
EDGX®, and VIX® are registered trademarks and Cboe Global
MarketsSM, SPXSM, and
XSPSM are service marks of Cboe Exchange, Inc. or its
affiliates. S&P 500® is a registered trademark of
Standard & Poor's Financial Services, LLC and has been licensed
for use by Cboe Exchange, Inc. Any products that have the
S&P Index or Indexes as their underlying interest are not
sponsored, endorsed, sold or promoted by Standard & Poor's or
Cboe and neither Standard & Poor's nor Cboe make any
representations or recommendations concerning the advisability of
investing in products that have S&P indexes as their underlying
interests. All other trademarks and service marks are
the property of their respective owners.
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
these statements by forward-looking words such as "may," "might,"
"should," "expect," "plan," "anticipate," "believe," "estimate,"
"predict," "potential" or "continue," and the negative of these
terms and other comparable terminology. All statements that reflect
our expectations, assumptions or projections about the future other
than statements of historical fact are forward-looking statements.
These forward-looking statements, which are subject to known and
unknown risks, uncertainties and assumptions about us, may include
projections of our future financial performance based on our growth
strategies and anticipated trends in our business. These statements
are only predictions based on our current expectations and
projections about future events. There are important factors that
could cause our actual results, level of activity, performance or
achievements to differ materially from those expressed or implied
by the forward-looking statements.
We operate in a very competitive and rapidly changing
environment. New risks and uncertainties emerge from time to time,
and it is not possible to predict all risks and uncertainties, nor
can we assess the impact of all factors on our business or the
extent to which any factor, or combination of factors, may cause
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
volumes, market data fees or a shift in the mix of products traded
on our exchanges; legislative or regulatory changes; potential
difficulties in our migration of trading platforms and our ability
to retain employees as a result of the acquisition of Bats Global
Markets, Inc.; our ability to protect our systems and communication
networks from security risks, cybersecurity risks, insider threats
and unauthorized disclosure of confidential information; increasing
competition by foreign and domestic entities; our dependence on and
exposure to risk from third parties; fluctuations to currency
exchange rates; our index providers' ability to maintain the
quality and integrity of their indexes and to perform under our
agreements; 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
attract and retain skilled management and other personnel,
including those experienced with post-acquisition integration; our
ability to accommodate trading volume and transaction traffic,
including significant increases, without failure or degradation of
performance of our systems; misconduct by those who use our markets
or our products; challenges to our use of open source software
code; our ability to meet our compliance obligations, including
managing potential conflicts between our regulatory
responsibilities and our for-profit status; damage to our
reputation; the ability of our compliance and risk management
methods to effectively monitor and manage our risks; our ability to
manage our growth and strategic acquisitions or alliances
effectively; restrictions imposed by our debt obligations; our
ability to maintain an investment grade credit rating; impairment
of our goodwill, investments or intangible assets; and the accuracy
of our estimates and expectations. More 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,
2018 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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