CHICAGO, April 5, 2022 /PRNewswire/ -- Cboe Global
Markets, Inc. (Cboe: CBOE), a leading provider of global market
infrastructure and tradable products, today reported March monthly
trading volume statistics across its global business lines and
provided guidance for selected revenue per contract/net revenue
capture metrics for the first quarter of 2022.
The data sheet "Cboe Global Markets Monthly Volume & RPC/Net
Revenue Capture Report" contains an overview of certain March
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
|
|
|
|
|
|
|
|
|
|
Mar
2022
|
Mar
2021
|
%
Chg
|
Feb
2022
|
%
Chg
|
Mar
2022
|
Mar
2021
|
%
Chg
|
Multiply-listed options
(contracts, k)
|
10,604
|
9,784
|
8.4%
|
10,805
|
-1.9%
|
10,978
|
10,779
|
1.8%
|
Index options
(contracts, k)
|
2,303
|
1,794
|
28.4%
|
2,403
|
-4.1%
|
2,414
|
1,901
|
27.0%
|
Futures (contracts,
k)
|
197
|
232
|
-15.0%
|
270
|
-27.0%
|
254
|
256
|
-0.9%
|
U.S. Equities -
On-Exchange (matched shares, mn)
|
1,953
|
2,048
|
-4.7%
|
1,758
|
11.1%
|
1,842
|
2,201
|
-16.3%
|
U.S. Equities -
Off-Exchange (matched shares, mn)
|
112
|
90
|
24.9%
|
105
|
6.7%
|
108
|
100
|
9.0%
|
Canadian Equities
(matched shares, k)
|
42,575
|
64,034
|
-33.5%
|
37,792
|
12.7%
|
41,133
|
71,359
|
-42.4%
|
European Equities (€,
mn)
|
13,968
|
8,228
|
69.8%
|
12,672
|
10.2%
|
12,831
|
7,513
|
70.8%
|
EuroCCP Cleared Trades
(k)
|
181,548
|
116,942
|
55.2%
|
140,562
|
29.2%
|
454,438
|
298,224
|
52.4%
|
EuroCCP Net Settlements
(k)
|
1,039
|
912
|
14.0%
|
874
|
18.9%
|
2,802
|
2,423
|
15.6%
|
Australian
Equities1 (AUD, mn)
|
898
|
N/A
|
|
893
|
0.6%
|
879
|
N/A
|
|
Japanese
Equities1 (JPY, bn)
|
172
|
N/A
|
|
162
|
6.1%
|
165
|
N/A
|
|
Global FX ADNV ($,
mn)
|
45,421
|
38,462
|
18.1%
|
42,926
|
5.8%
|
41,983
|
37,074
|
13.2%
|
1Australian
Equities and Japanese Equities data reflects Cboe's acquisition of
Chi-X Asia Pacific effective on July 1, 2021.
|
ADV= Average Daily
Volume
|
ADNV= Average Daily
Notional Value
|
NM=Not
Meaningful
|
March and First Quarter 2022 Trading Volume
Highlights
Options
- In first-quarter 2022, total volume across Cboe's four options
exchanges was 830.3 million options contracts, setting a record for
the second consecutive quarter. Quarterly average daily volume
(ADV) reached a new all-time high of 13.4 million contracts traded
per day.
- Cboe successfully launched Nanos, a first of its kind,
one-multiplier, cash-settled listed options contract, on
March 14. Nearly 7,200 contracts
traded in total within the first two weeks of launch.
European Equities
- Cboe BIDS Europe, Cboe Europe's block trading platform,
reported record average daily notional value (ADNV) traded of €669
million, beating the previous record of €608 million ADNV traded in
January 2022.
- Cboe Europe Periodic Auctions reported record ADNV traded of
€2.1 billion, beating the previous record of €2 billion ADNV traded
in February 2022.
European Derivatives
- Cboe Europe Derivatives traded 2,464 contracts, a record
monthly figure and up from 1,623 contracts in February 2022.
Global FX
- Spot ADNV was $44.4 billion in
March 2022, the second-highest volume
month on record behind March
2020.
- Spot Full Amount ADNV reached a new all-time monthly high with
$12.9 billion traded in March 2022.
- Cboe SEF set a new monthly ADNV record in Non-Deliverable
Forwards (NDFs) with $957 million
traded in March 2022.
First-Quarter 2022 RPC/Net Revenue Capture Guidance
The projected RPC/net capture metrics for the first quarter of
2022 are estimated, preliminary and may change. There can be no
assurance that our final RPC for the three months ended
March 31, 2022, will not differ
materially from these projections.
(In USD unless
stated otherwise)
|
|
Two-Months
Ended
|
Three-Months
Ended
|
Product:
|
1Q
Projection
|
Feb-22
|
Feb-22
|
Jan-22
|
Dec-21
|
Nov-21
|
Multiply-Listed Options
(per contract)
|
0.068
|
0.068
|
0.066
|
0.067
|
0.066
|
0.068
|
Index
Options
|
0.858
|
0.861
|
0.850
|
0.846
|
0.845
|
0.856
|
Total
Options
|
0.210
|
0.211
|
0.210
|
0.203
|
0.199
|
0.201
|
Futures (per
contract)
|
1.647
|
1.622
|
1.625
|
1.631
|
1.651
|
1.647
|
U.S. Equities -
Exchange (per 100 touched shares)
|
0.017
|
0.016
|
0.019
|
0.021
|
0.025
|
0.024
|
U.S. Equities -
Off-Exchange (per 100 touched shares)
|
0.114
|
0.111
|
0.111
|
0.113
|
0.115
|
0.116
|
Canadian Equities (per
10,000 touched shares)
|
CAD
9.15
|
CAD 8.84
|
CAD 8.85
|
CAD 8.58
|
CAD 8.48
|
CAD 8.19
|
European Equities (per
matched notional value)
|
0.242
|
0.235
|
0.238
|
0.244
|
0.252
|
0.255
|
Australian Equities
(per matched notional value)
|
0.173
|
0.173
|
0.171
|
0.171
|
0.171
|
0.173
|
Japanese Equities (per
matched notional value)
|
0.228
|
0.223
|
0.257
|
0.291
|
0.358
|
0.367
|
Global FX (per one
million dollars traded)
|
2.667
|
2.677
|
2.723
|
2.746
|
2.770
|
2.740
|
EuroCCP Fee per Trade
Cleared
|
0.009
|
0.010
|
0.010
|
0.010
|
0.011
|
0.011
|
EuroCCP Net Fee per
Settlement
|
0.892
|
0.963
|
0.901
|
0.905
|
0.860
|
0.884
|
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. 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
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
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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.
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