Cboe Global Markets Reports Trading Volume for April 2025

Rhea-AI Summary

Cboe Global Markets reported strong trading volumes for April 2025, with notable growth across multiple segments. U.S. Options showed remarkable performance, with proprietary index options reaching 5.1 million contracts ADV, marking the second-best month on record. On April 4, several records were broken, including total U.S. options volume of 31.0 million contracts and SPX options volume of 6.0 million contracts. Key year-over-year growth metrics include: multiply-listed options up 29.7%, index options up 17.0%, U.S. equities on-exchange volume up 61.7%, European equities up 65.8%, and Global FX up 27.4%. Notable declines were observed in Japanese equities, down 24.3% year-over-year.

Positive

• Record-breaking single-day trading volumes on April 4, with 31.0M contracts across U.S. options exchanges
• Index options ADV reached second-best month ever at 5.1M contracts
• Strong YoY growth in multiple segments: U.S. equities (+61.7%), European equities (+65.8%), Global FX (+27.4%)
• SPX options volume set new record of 6.0M contracts, exceeding previous record by 1.2M

Negative

• Japanese equities trading volume declined 24.3% YoY
• Index options ADV decreased 3.5% compared to March 2025
• Multiply-listed options showed 2.0% decline from March 2025

Insights

Market Structure Analyst

Cboe reports exceptional April trading volumes with record-breaking index options activity and double-digit growth across most business segments.

Cboe Global Markets' April 2025 trading statistics reveal broad-based volume growth across most business lines. The standout performer was Cboe's proprietary index options, which reached 5.1 million contracts in average daily volume (ADV) – marking the second-best month on record and a solid 17.0% year-over-year increase. This is particularly significant as proprietary products typically generate higher fees than standard options.

The exchange achieved several notable single-day records on April 4, including:

• Total options volume of 31.0 million contracts across Cboe's four U.S. options exchanges
• Proprietary index options volume of 8.8 million contracts
• S&P 500 Index (SPX) options volume of 6.0 million contracts, exceeding the previous record by 1.2 million
• 437,000 contracts during global trading hours

U.S. equities trading demonstrated exceptional strength with on-exchange matched shares increasing 61.7% year-over-year, while off-exchange volumes surged 74.6%. European equities trading saw similar robust performance, up 65.8% compared to April 2024.

The growth was remarkably consistent across asset classes, with multiply-listed options up 29.7% and Global FX volumes rising 27.4% year-over-year. The only significant decline was in Japanese equities, which fell 24.3%, while futures trading remained essentially flat with a marginal 0.2% decrease.

The breadth of volume increases across diverse business segments demonstrates Cboe's strong market position and operational momentum in its core trading activities.

CHICAGO, May 5, 2025 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today reported April monthly trading volume statistics across its global business lines.

The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of certain April 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 (ADV) by Month						Year-To-Date
	Apr 2025	Apr 2024	% Chg	Mar  2025	%    Chg	Apr 2025	Apr 2024	%    Chg
Multiply-listed options (contracts, k)	13,260	10,223	29.7 %	13,529	-2.0 %	13,372	10,606	26.1 %
Index options (contracts, k)	5,087	4,347	17.0 %	5,270	-3.5 %	4,853	4,157	16.7 %
Futures (contracts, k)	309	309	-0.2 %	284.976	8.4 %	265	244	8.7 %
U.S. Equities - On-Exchange (matched shares, mn)	2,118	1,310	61.7 %	1,617	31.0 %	1,765	1,457	21.2 %
U.S. Equities - Off-Exchange (matched shares, mn)	125	72	74.6 %	92	36.4 %	100	79	25.6 %
Canadian Equities (matched shares, k)	170,517	157,295	8.4 %	153,961	10.8 %	162,357	149,145	8.9 %
European Equities (€, mn)	17,410	10,503	65.8 %	16,422	6.0 %	14,684	10,064	45.9 %
Cboe Clear Europe Cleared Trades (k)	167,213	107,368	55.7 %	157,411	6.2 %	579,285	401,694	44.2 %
Cboe Clear Europe Net Settlements (k)	1,099	937	17.4 %	1,130	-2.7 %	4,300	3,461	24.2 %
Australian Equities (AUD, mn)	1,047	761	37.6 %	900	16.4 %	873	764	14.3 %
Japanese Equities (JPY, bn)	239	316	-24.3 %	312	-23.2 %	301	316	-4.7 %
Global FX ($, mn)	65,340	51,307	27.4 %	54,784	19.3 %	55,398	46,804	18.4 %

April 2025 Trading Volume Highlights   

U.S. Options

• Cboe's proprietary index options ADV in April was 5.1 million contracts, its second-best month on record.
• Several new single-day records were set on April 4, including:
  • Total volume across Cboe's four U.S. options exchanges of 31.0 million contracts.
  • Cboe's proprietary index options volume of 8.8 million contracts.
  • S&P 500 Index (SPX) options volume of 6.0 million contracts, eclipsing the previous single-day record by 1.2 million contracts.
  • 437 thousand contracts traded during Cboe's global trading hours session (7:15 PM to 8:25 AM CT).

About Cboe Global Markets

Cboe Global Markets (Cboe: CBOE), the world's leading derivatives and securities exchange network, delivers cutting-edge trading, clearing and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives and FX across North America, Europe and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more about the Exchange for the World Stage, visit www.cboe.com.

Cboe Media Contacts			Cboe 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 of Cboe Exchange, Inc. or its affiliates. Standard & Poor's®, S&P®, SPX®, and S&P 500® are registered trademarks of Standard & Poor's Financial Services, LLC, and have been licensed for use by Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.

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.

Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.

View original content to download multimedia:https://www.prnewswire.com/news-releases/cboe-global-markets-reports-trading-volume-for-april-2025-302446354.html

SOURCE Cboe Global Markets, Inc.

FAQ

What were CBOE's trading volume highlights for April 2025?

CBOE achieved its second-best month for index options ADV at 5.1M contracts and set multiple records on April 4, including total U.S. options volume of 31.0M contracts and SPX options volume of 6.0M contracts.

How did CBOE's U.S. equities trading volume perform in April 2025?

CBOE's U.S. equities on-exchange trading volume showed strong growth, up 61.7% year-over-year to 2,118 million matched shares, while off-exchange volume increased 74.6%.

What was CBOE's Global FX trading volume in April 2025?

CBOE's Global FX trading volume reached $65,340 million, representing a 27.4% increase year-over-year and a 19.3% increase from March 2025.

Which segments showed the strongest year-over-year growth for CBOE in April 2025?

The strongest year-over-year growth was seen in U.S. Equities off-exchange (+74.6%), European Equities (+65.8%), and U.S. Equities on-exchange (+61.7%).

What new records did CBOE set on April 4, 2025?

CBOE set new records for total U.S. options volume (31.0M contracts), proprietary index options (8.8M contracts), SPX options (6.0M contracts), and global trading hours session (437K contracts).