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Cboe Global Markets Reports Trading Volume for February 2024

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Cboe Global Markets, Inc. reported February trading volume statistics, showing changes in various business segments. Notable increases were seen in index options and Japanese equities, while decreases were noted in Canadian equities and European equities.
Positive
  • Positive: Significant growth in index options trading volumes by 19.5% compared to the previous year.
  • Positive: Japanese equities trading volume surged by 63.3% year-over-year, indicating a strong market presence.
  • Negative: Decline in European equities trading volume by 10.3% compared to the prior year, signaling potential challenges in that market.
  • Negative: Canadian equities trading volume dropped by 8.8% year-over-year, reflecting a decrease in market activity.
Negative
  • None.

The reported trading volume statistics from Cboe Global Markets offer a snapshot of market activity and liquidity across various asset classes. The notable increase in Index options by 16.8% and Japanese Equities by 62.5% year-over-year indicates a shift in investor sentiment or strategy towards these particular segments. This could be attributed to a range of factors, including market volatility, shifts in monetary policy, or geopolitical events influencing these markets.

On the other hand, the decrease in Canadian Equities and European Equities by 8.8% and 12.5%, respectively, raises questions about the underlying causes, such as changes in the economic outlook or investor preference for other markets. The Global FX ADNV showed a moderate increase, suggesting steady interest in currency trading, possibly due to ongoing currency fluctuations driven by international trade tensions or policy changes.

The RPC/net revenue capture reported on a one-month lag is a critical metric for assessing the exchange's profitability. Changes in RPC can significantly impact the exchange's financial performance, as it reflects the average revenue per contract or trade. A higher RPC indicates greater revenue efficiency, which could translate into improved earnings. Investors would be keen on this metric to gauge the company's operational efficiency and potential impact on future earnings.

Furthermore, the shift in Average Daily Trading Volume (ADV) across different asset classes could signal changing risk appetites among investors and may affect the exchange's transaction-based revenues. The 7.1% increase in U.S. Equities - On-Exchange volume suggests a possible uptrend in retail or institutional participation in the equity markets, which could enhance liquidity and potentially attract more listings and trading activity to Cboe's platforms.

These trading statistics can be seen as a barometer for economic activity and investor confidence. For example, the substantial growth in Japanese Equities may reflect optimism about Japan's economic prospects or a favorable exchange rate movement that has attracted foreign investment. Conversely, the decline in European Equities could indicate economic uncertainty in the region, potentially stemming from factors like Brexit or regulatory changes affecting market dynamics.

Moreover, the data on Cboe Clear Europe Cleared Trades and Net Settlements provides insights into the clearing and settlement landscape in Europe, which is critical for understanding the robustness of the post-trade environment. The figures might also reflect the impact of regulatory frameworks like MiFID II on European trading activity.

CHICAGO, March 5, 2024 /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
2024

Feb
2023

%

Chg

Jan
 2024

%  
 Chg

Feb

2024

Feb

2023

%  
 Chg

Multiply-listed options (contracts, k)

11,114

11,219

-0.9 %

10,559

5.3 %

10,829

11,219

-3.5 %

Index options (contracts, k)

4,090

3,502

16.8 %

4,118

-0.7 %

4,104

3,435

19.5 %

Futures (contracts, k)

213

227

-6.1 %

229

-7.0 %

221

210

5.4 %

U.S. Equities - On-Exchange (matched shares, mn)

1,528

1,427

7.1 %

1,537

-0.6 %

1,532

1,426

7.5 %

U.S. Equities - Off-Exchange (matched shares, mn)

86

87

-1.6 %

71

21.4 %

78

90

-12.7 %

Canadian Equities (matched shares, k)

143,922

157,861

-8.8 %

136,143

5.7 %

139,847

153,370

-8.8 %

European Equities (€, mn)

10,093

11,531

-12.5 %

9,450

6.8 %

9,765

10,881

-10.3 %

Cboe Clear Europe Cleared Trades (k)

98,689

113,022

-12.7 %

98,903

-0.2 %

197,592

226,201

-12.6 %

Cboe Clear Europe Net Settlements (k)

825

827

-0.2 %

871

-5.3 %

1,697

1,692

0.3 %

Australian Equities (AUD, mn)

809

785

3.1 %

674

20.0 %

742

726

2.2 %

Japanese Equities (JPY, bn)

316

194

62.5 %

272

16.0 %

294

180

63.3 %

Global FX ADNV ($, mn)

43,628

42,991

1.5 %

44,815

-2.6 %

44,236

42,491

4.1 %

1 Canadian Equities data includes MATCHNow and NEO (now operating as Cboe Canada).

2 Cboe Clear Europe figures are totals (not ADV) for the months and years-to-date. As of April 2023, data has been restated to reflect both On-Book and Off-Book cleared trades.

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, FX, and digital assets, 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.

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. 

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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SOURCE Cboe Global Markets, Inc.

Index options trading volume increased by 19.5% year-over-year for Cboe.

Japanese equities trading volume surged by 63.3% compared to the previous year for Cboe.

Canadian equities trading volume decreased by 8.8% year-over-year for Cboe.

European equities trading volume declined by 10.3% year-over-year for Cboe.
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About CBOE

cboe global markets, inc. (cboe: cboe | nasdaq: 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 the second-largest stock exchange operator in the u.s. and a leading market globally for etp trading. the company is