Cboe Global Markets Reports Trading Volume for February 2026

Rhea-AI Summary

Cboe Global Markets (CBOE) reported February 2026 monthly trading volumes across its global business lines, showing broad strength in index products, equities and FX.

Key February highlights include a record proprietary index options ADV of 6.0M contracts, SPX ADV 4.8M, 0DTE SPX ADV 3.0M (63% of SPX), a 33.7% YoY rise in index options ADV, U.S. on-exchange equities +17.2% YoY, U.S. off-exchange matched shares +176.6% YoY, and Cboe Europe ADNV €18.0B.

Positive

• Proprietary index options ADV record of 6.0M contracts
• SPX options ADV record of 4.8M contracts
• 0DTE SPX ADV record of 3.0M contracts (63% of SPX trading)
• Index options ADV +33.7% YoY (Feb 2026 vs Feb 2025)
• U.S. on-exchange equities matched shares +17.2% YoY (Feb)
• U.S. off-exchange matched shares ADV +176.6% YoY (Feb)

Negative

• Canadian equities ADV -14.6% MoM (Feb 2026 vs Jan 2026)
• Australian equities ADNV -14.6% MoM (Feb 2026 vs Jan 2026)

Key Figures

Index options ADV: 5,973k contracts U.S. equities on-exchange ADV: 1,961M shares U.S. equities off-exchange ADV: 268M shares +5 more

8 metrics

Index options ADV 5,973k contracts February 2026 vs 4,469k in February 2025 (+33.7%)

U.S. equities on-exchange ADV 1,961M shares February 2026 vs 1,673M in February 2025 (+17.2%)

U.S. equities off-exchange ADV 268M shares February 2026 vs 97M in February 2025 (+176.6%)

Global FX volume $63,372M February 2026 vs $50,699M in February 2025 (+25.0%)

SPX options ADV record 4.8M contracts Monthly S&P 500 Index (SPX) options ADV record in February 2026

SPX 0DTE share 3.0M contracts; 63% SPX zero-days-to-expiry ADV and share of all SPX trading

BIDS Trading ADV record 267.8M matched shares Monthly ADV record for U.S. Equities Off-Exchange platform BIDS Trading

Cboe Europe ADNV record €18.0B Record total monthly average daily notional value in European Equities

Market Reality Check

Price: $300.62 Vol: Volume 986,584 vs 20-day ...

normal vol

$300.62 Last Close

Volume Volume 986,584 vs 20-day average 977,537 – roughly in-line ahead of strong February volume data. normal

Technical Price $300.62 is 1.66% below 52-week high $305.68 and well above 200-day MA $247.75.

Peers on Argus

CBOE gained 2.33% while peers were mixed: TRU -1.99%, FDS +1.82%, MSCI +1.04%, N...

CBOE gained 2.33% while peers were mixed: TRU -1.99%, FDS +1.82%, MSCI +1.04%, NDAQ +1.83%, MORN +3.05%. Momentum scanner showed no broad sector move, suggesting a more company-specific reaction to Cboe’s February volume records.

Common Catalyst Peer headlines today focus on AI leadership changes (FDS) and conference participation (TRU), not trading-volume updates, indicating no shared news catalyst.

Historical Context

5 past events · Latest: Feb 24 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 24	Conference participation	Neutral	-0.6%	Management presenting at Raymond James Institutional Investors Conference.
Feb 13	Dividend declaration	Positive	+3.3%	Declared <b>$0.72</b> quarterly cash dividend for Q1 2026.
Feb 12	Product expansion	Positive	+1.7%	Launched nearly 24-hour trading for Russell 2000 index options.
Feb 06	Earnings results	Positive	-0.7%	Reported record Q4 2025 and full-year 2025 results with strong EPS growth.
Feb 04	Monthly volumes	Positive	+1.5%	Reported strong January 2026 trading volumes across asset classes.

Pattern Detected

Operational and volume-related positives often saw modest positive or mixed reactions, while even strong earnings once coincided with a slight pullback.

Recent Company History

Over the past month, Cboe has reported record Q4 2025 and full-year results, strong January trading volumes, and announced new nearly 24-hour trading in Russell 2000 options. It also declared a $0.72 quarterly dividend and outlined upcoming investor conference appearances. These developments emphasize growth in derivatives, expanded trading hours, and shareholder returns. Today’s February 2026 volume release continues that theme of robust derivatives and equities activity following January’s strong metrics.

Market Pulse Summary

This announcement details strong February 2026 trading activity, including record index option volum...

Analysis

This announcement details strong February 2026 trading activity, including record index option volumes, SPX 0DTE ADV of 3.0M contracts, and a record €18.0B ADNV in Cboe Europe. It follows January’s solid volume report and recent record 2025 financial results. Investors may watch whether these derivatives and off-exchange equity trends persist, how mix shifts across regions and products evolve, and how volumes translate into net revenue capture across business lines.

Key Terms

average daily trading volume (adv), zero-days-to-expiry (0dte), global trading hours (gth), average daily notional value (adnv)

4 terms

average daily trading volume (adv) technical

"Average Daily Trading Volume (ADV) by Month | Year-To-Date"

Average daily trading volume (ADV) measures the typical number of shares of a security bought and sold each trading day over a set period, usually expressed as a daily average. For investors it signals how easy or hard it is to enter or exit a position—think of a busy market stall where items sell quickly versus a quiet stall where finding a buyer takes time; higher ADV generally means tighter price moves and lower trading costs, while low ADV can increase risk and price impact.

zero-days-to-expiry (0dte) technical

"Monthly SPX zero-days-to-expiry (0DTE) ADV record of 3.0 million contracts"

Zero-days-to-expiry (0dte) describes options contracts that expire on the same trading day they are bought or sold. Investors use them to take quick, short-term positions or to hedge intraday risk; because the contract’s value is tied to price moves within hours, small market shifts can cause large gains or losses, much like betting on the outcome of a game that ends today.

global trading hours (gth) technical

"ADV record of 155 thousand contracts during Cboe's Global Trading Hours (GTH) session"

Global trading hours (GTH) are extended electronic trading sessions that let investors buy and sell securities outside a market’s standard opening hours, often spanning multiple time zones. They matter because they allow faster reactions to international news and continuous price discovery, but they can also have thinner liquidity and wider price swings—think of a smaller late-night store where you can still shop, but choices and prices may be less predictable.

average daily notional value (adnv) technical

"Cboe Europe reached a record total monthly average daily notional value (ADNV) of €18.0 billion"

Average daily notional value (ADNV) is the typical dollar amount of a security or group of securities that changes hands each trading day, averaged over a set period. Think of it as the average daily cash flow through a market — higher ADNV means it’s easier and cheaper to buy or sell without moving the price, while lower ADNV signals thin trading and higher risk of price swings or big trading costs. Investors use it to assess liquidity and execution risk.

AI-generated analysis. Not financial advice.

CHICAGO, March 4, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today reported February 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 February 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
	Feb 2026	Feb 2025		% Chg		Jan  2026		%   Chg		Feb 2026	Feb 2025	%   Chg
Multi-listed options (contracts, k)	13,476	13,556		-0.6 %		14,093		-4.4 %		13,792	13,348	3.3 %
Index options (contracts, k)	5,973	4,469		33.7 %		5,477		9.1 %		5,719	4,503	27.0 %
Futures (contracts, k)1	276	241		14.7 %		230		20.1 %		253	230	9.8 %
U.S. Equities - On-Exchange (matched shares, mn)	1,961	1,673		17.2 %		1,872		4.7 %		1,915	1,655	15.7 %
U.S. Equities - Off-Exchange (matched shares, mn)	268	97		176.6 %		241		11.0 %		254	90	182.7 %
Canadian Equities (matched shares, k)	204,403	166,261		22.9 %		239,258		-14.6 %		222,702	162,478	37.1 %
European Equities (€, mn)	17,963	13,718		30.9 %		15,218		18.0 %		16,557	12,516	32.3 %
Australian Equities (AUD, mn)	1,228	914		34.3 %		1,041		18.1 %		1,134	779	45.6 %
Global FX ($, mn)	63,372	50,699		25.0 %		67,233		-5.7 %		65,350	50,497	29.4 %
Cboe Clear Europe Cleared Trades (k)	141,642	131,723		7.5 %		123,562		14.6 %		265,204	254,662	4.1 %
Cboe Clear Europe Net Settlements (k)	1,266	1,021		24.0 %		1,234		2.6 %		2,500	2,071	20.7 %

1 In the second quarter of 2025, Digital futures products were transitioned to Cboe Futures Exchange. Futures metrics prior to the second quarter of 2025 exclude Digital futures products.

February 2026 Trading Volume Highlights

U.S. Options

• Cboe's proprietary index options reported a monthly ADV record of 6.0 million contracts, driven by:
  • Monthly S&P 500 Index (SPX) options ADV record of 4.8 million contracts.
  • Monthly SPX zero-days-to-expiry (0DTE) ADV record of 3.0 million contracts, representing a record 63% of all SPX trading.
  • Monthly mini-SPX (XSP) options ADV record of 186 thousand contracts.
  • Monthly ADV record of 155 thousand contracts during Cboe's Global Trading Hours (GTH) session (8:15 p.m. to 9:25 a.m. ET), including record SPX GTH ADV of 133 thousand contracts.

U.S. Equities - Off-Exchange

• BIDS Trading reported a monthly ADV record of 267.8 million matched shares.

European Equities

• Cboe Europe reached a record total monthly average daily notional value (ADNV) of €18.0 billion, including monthly ADNV records in Cboe Periodic Auctions (€6.3 billion) and Cboe BIDS Europe (€969.0 million).

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, 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 Clear^®, Cboe Futures Exchange^®, CFE^®, 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.

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 unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.

Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or 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 way be liable for any inaccuracies, errors. Cboe Global 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.

There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: https://www.cboe.com/us_disclaimers/. 

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. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/cboe-global-markets-reports-trading-volume-for-february-2026-302704517.html

SOURCE Cboe Global Markets, Inc.

FAQ

What trading volume did CBOE report for index options in February 2026?

CBOE reported a record proprietary index options ADV of 6.0 million contracts in February 2026. According to the company, index options rose 33.7% YoY, driven by strong SPX and 0DTE activity.

How large was SPX and 0DTE SPX trading on CBOE in February 2026?

CBOE recorded SPX ADV of 4.8 million contracts and 0DTE SPX ADV of 3.0 million contracts in February 2026. According to the company, 0DTE accounted for 63% of all SPX trading that month.

What were CBOE's U.S. equities volumes (on- and off-exchange) in February 2026?

CBOE reported U.S. on-exchange matched shares of 1.961 billion ADV and off-exchange matched shares of 268 million ADV in February 2026. According to the company, on-exchange rose 17.2% YoY176.6% YoY.

Did Cboe Europe set any records in February 2026 and what were they?

Cboe Europe reached a record total monthly ADNV of €18.0 billion in February 2026. According to the company, monthly ADNV records were also set in Cboe Periodic Auctions (€6.3B) and Cboe BIDS Europe (€969.0M).

How did CBOE futures and global FX perform in February 2026?

CBOE futures ADV was 276k contracts in February 2026, up 14.7% YoY, and global FX notional averaged $63.4 billion, up 25.0% YoY. According to the company, these gains reflect broader product-mix strength.