CHICAGO, Oct. 6, 2021 /PRNewswire/ -- Cboe Global
Markets, Inc. (Cboe: CBOE), a leading provider of global
market infrastructure and tradable products, today reported
September monthly trading volume statistics and projected rate per
contract/net revenue capture for the third quarter of 2021 across
its global business lines.
The data sheet "Cboe Global Markets Monthly Volume & RPC/Net
Revenue Capture Report" contains an overview of certain September
trading statistics and market share by business segment, volume in
select index products, and full quarter RPC/net capture across
business lines.
Trading Volume for
Current Month
|
Year-To-Date
|
|
Sep
|
Sep
|
%
|
Aug
|
%
|
Sep
|
Sep
|
%
|
2021
|
2020
|
Chg
|
2021
|
Chg
|
2021
|
2020
|
Chg
|
Multiply-listed
options ADV (contracts, k)
|
10,092
|
8,594
|
17.4%
|
9,458
|
6.7%
|
9,932
|
8,186
|
21.3%
|
Index options ADV
(contracts, k)
|
2,228
|
1,602
|
39.1%
|
1,775
|
25.5%
|
1,904
|
1,889
|
0.8%
|
Futures ADV
(contracts, k)
|
259
|
196
|
32.2%
|
186
|
39.3%
|
231
|
215
|
7.5%
|
U.S. Equities -
On-Exchange ADV (matched shares, mn)
|
1,436
|
1,535
|
-6.4%
|
1,269
|
13.1%
|
1,684
|
1,773
|
-5.0%
|
U.S. Equities -
Off-Exchange ADV (matched shares, mn)1
|
72
|
N/A
|
|
72
|
0.9%
|
83
|
N/A
|
|
Canadian Equities ADV
(matched shares, k)2
|
42,801
|
39,466
|
8.5%
|
36,361
|
17.7%
|
52,096
|
39,960
|
30.4%
|
European Equities
ADNV (€, mn)
|
8,180
|
5,876
|
39.2%
|
6,351
|
28.8%
|
7,343
|
6,988
|
5.1%
|
EuroCCP Total Cleared
Trades (k)3
|
112,404
|
89,757
|
25.2%
|
92,913
|
21.0%
|
899,111
|
255,293
|
NM
|
EuroCCP Total Net
Settlements (k) 3
|
844
|
670
|
25.9%
|
812
|
3.9%
|
7,275
|
1,952
|
NM
|
Australian Equities
ADNV (AUD, mn)4
|
887
|
N/A
|
|
774
|
14.6%
|
777
|
N/A
|
|
Japanese Equities
ADNV (JPY, bn)4
|
104
|
N/A
|
|
81
|
29.3%
|
86
|
N/A
|
|
Global FX ADNV ($,
mn)5
|
34,870
|
31,913
|
9.3%
|
29,326
|
18.9%
|
33,949
|
35,042
|
-3.1%
|
1U.S. Equities Off-Exchange data
reflects Cboe's acquisition of BIDS Trading effective on December
31, 2020.
|
2Canadian Equities data reflects
Cboe's acquisition of MATCHNow effective on August 4,
2020.
|
3EuroCCP data reflects Cboe's
acquisition of EuroCCP effective on July 1, 2020.
|
4Data reflects Cboe's
acquisition of Chi-X Asia Pacific effective on July 1, 2021;
Australian Equities volumes exclude Trade Reporting.
|
5Global FX metrics continue to
include Spot and as of January 2021 include SEF
products.
|
|
ADV= average daily
volume
|
ADNV= average daily
notional value
|
NM Not
Meaningful
|
September 2021 Trading Volume
Highlights
- A total of 34.9 million S&P 500 Index (SPX®) options
contracts traded in September, with 1.7 million contracts changing
hands a day on average during the month – the highest month on
record since March 2020.
- Cboe SEF set a quarterly ADNV record in Non-Deliverable
Forwards (NDFs) with nearly $451
million for the third-quarter of 2021. In addition, ADNV
reached $571 million during
September, the sixth consecutive record month.
- Total traded NDF volumes exceeded $1
billion on two separate days in September, including a new
daily record on September 30 of
approximately $1.1 billion.
- Cboe Europe successfully launched Cboe Europe Derivatives
(CEDX), a new Amsterdam-based
futures and options marketplace, on September 6 and traded more than 60 contracts in
total during the month, across 9 of the 12 products launched.
Third-Quarter 2021 RPC/Net Revenue Capture Guidance
The projected RPC/net capture metrics for the third quarter of
2021 are estimated, preliminary and may change. There can be no
assurance that our final RPC for the three months ended
September 30, 2021, will not differ
materially from these projections.
The following 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. 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.
(In USD unless
stated otherwise)
|
|
Three-Months
Ended
|
|
Product:
|
3Q
Projection
|
Aug-21
|
Jul-21
|
Jun-21
|
May-21
|
Multiply-Listed
Options (per contract)
|
$0.070
|
$0.067
|
$0.068
|
$0.067
|
$0.067
|
Index
Options
|
$0.848
|
$0.844
|
$0.831
|
$0.823
|
$0.819
|
Total
Options
|
$0.200
|
$0.188
|
$0.193
|
$0.192
|
$0.194
|
Futures (per
contract)
|
$1.628
|
$1.631
|
$1.631
|
$1.648
|
$1.644
|
U.S.
Equities - Exchange (per 100 touched
shares)
|
$0.020
|
$0.019
|
$0.019
|
$0.020
|
$0.017
|
U.S. Equities -
Off-Exchange (per 100 touched shares)
|
$0.123
|
$0.125
|
$0.120
|
$0.123
|
$0.120
|
Canadian
Equities (per 10,000 touched shares)
|
CAD
8.35
|
CAD 8.60
|
CAD 8.31
|
CAD 7.78
|
CAD 7.43
|
European
Equities (per matched notional value,
bps)1
|
0.265
|
0.267
|
0.266
|
0.267
|
0.268
|
Australian
Equities (per matched notional value,
bps)1
|
0.173
|
0.173
|
0.174
|
N/A
|
N/A
|
Japanese
Equities (per matched notional value, bps)
|
0.358
|
0.352
|
0.347
|
N/A
|
N/A
|
Global
FX (per one million dollars traded)
|
$2.76
|
$2.77
|
$2.73
|
$2.71
|
$2.68
|
EuroCCP Fee per
Trade Cleared
|
€
0.01
|
€ 0.01
|
€ 0.01
|
€ 0.01
|
€ 0.01
|
EuroCCP Net Fee
per Settlement
|
€
0.88
|
€ 0.91
|
€ 0.90
|
€ 0.89
|
€ 0.86
|
1July Rolling Three-Month
Average Net Capture for Australian Equities and Japanese Equities
includes two-months of non-Cboe
ownership; August includes one-month of non-Cboe
ownership.
|
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
and FX, 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®,
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as of this date. Cboe Global Markets, Inc. disclaims any duty to
update the information herein.
Nothing in this announcement should be considered a
solicitation to buy or an offer to sell any securities or futures
in any jurisdiction where the offer or solicitation would be
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or implied, including, without
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obtained by recipients of the
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as to the ability of the indices referenced in this press release
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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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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
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We operate in a very competitive and rapidly changing
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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 impact of the novel coronavirus ("COVID-19") pandemic,
including changes to trading behavior broadly in the market; 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
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or clearing volumes, market data fees or a shift in the mix of
products traded on our exchanges; legislative or regulatory
changes; our ability to protect our systems and communication
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and unauthorized disclosure of confidential information; increasing
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exposure to risk from third parties; fluctuations to currency
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quality and integrity of their indices 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; 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
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use our markets or our products or for whom we clear transactions;
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year ended December 31, 2020 and
other filings made from time to time with the SEC.
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Readers are cautioned not to place undue reliance on these
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hereof.
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