Cboe Global Markets Reports Trading Volume for October 2025

Rhea-AI Summary

Cboe Global Markets (CBOE) reported October 2025 monthly trading volumes and RPC/net capture metrics on Nov 5, 2025. Total U.S. options ADV across Cboe's four exchanges hit a monthly record of 21.4 million contracts, driven by multi-listed options ADV of 15.9 million and proprietary index options ADV of 5.5 million. The S&P 500 (SPX) set several records: new monthly ADV 4.4 million, 0DTE monthly ADV 2.7 million, and a single-day record of 6.4 million on Oct 10.

The data sheet shows strong year‑over‑year gains across equities and FX, including U.S. on‑exchange matched shares and Canadian, European, and Australian equities.

Positive

• Total U.S. options ADV reached 21.4M contracts (monthly record)
• Multi‑listed options ADV 15.892M contracts (+47.2% YoY)
• Index options ADV 5.511M contracts (+38.6% YoY)
• SPX monthly ADV record 4.4M contracts
• SPX 0DTE monthly ADV record 2.7M contracts
• U.S. equities on‑exchange ADV 2,020M matched shares (+56.7% YoY)

Negative

• None.

Insights

Market Structure Analyst

Cboe reported broad, large month‑over‑month and year‑over‑year ADV gains across options, equities and FX for Nov 5, 2025.

Cboe showed pronounced volume growth: multi‑listed options ADV rose 47.2% year‑over‑year to 15,892k contracts and index options ADV rose 38.6% to 5,511k, producing a combined options ADV record of 21.4 million contracts for October. Key listed product signals include a new monthly ADV record of 4.4 million for SPX, a 0DTE monthly ADV record of 2.7 million, and a single‑day SPX record of 6.4 million on Oct 10, 2025. These figures directly translate into higher transaction flow and likely greater RPC/net capture in the short term given higher contract counts.

Risks and dependencies include the persistence of elevated activity; futures ADV and some year‑to‑date metrics show mixed movement (futures YTD down -6.5%), so sustainability matters for revenue translation. The data sheet notes a one‑month lag for RPC/net capture reporting and a product reclassification for digital futures in Q2 2025, which complicates simple month‑to‑month revenue comparisons. Watch the next RPC/net capture release and the November monthly sheet over the next one to two months for confirmation that higher ADV converts to higher net revenue.

CHICAGO, Nov. 5, 2025 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today reported October 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 October 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
	Oct 2025	Oct 2024		% Chg		Sep  2025		%    Chg		Oct 2025	Oct 2024	%    Chg
Multi-listed options (contracts, k)	15,892	10,793		47.2 %		15,273		4.1 %		13,601	10,610	28.2 %
Index options (contracts, k)	5,511	3,976		38.6 %		5,250		5.0 %		4,856	4,097	18.5 %
Futures (contracts, k)1	259	187		38.6 %		207		25.2 %		227	243	-6.5 %
U.S. Equities - On-Exchange (matched shares, mn)	2,020	1,289		56.7 %		1,703		18.6 %		1,789	1,360	31.5 %
U.S. Equities - Off-Exchange (matched shares, mn)	227	77		195.0 %		240		-5.5 %		150	78	91.3 %
Canadian Equities (matched shares, k)	211,986	158,622		33.6 %		192,599		10.1 %		163,623	145,790	12.2 %
European Equities (€, mn)	13,192	10,534		25.2 %		11,789		11.9 %		13,060	9,681	34.9 %
Australian Equities (AUD, mn)	1,130	777		45.4 %		1,046		8.0 %		945	788	20.0 %
Global FX ($, mn)	55,134	44,373		24.3 %		52,429		5.2 %		52,857	46,805	12.9 %
Cboe Clear Europe Cleared Trades (k)	125,392	117,528		6.7 %		107,956		16.2 %		1,267,693	1,017,755	24.6 %
Cboe Clear Europe Net Settlements (k)	1,305	1,042		25.2 %		1,191		9.6 %		11,337	9,278	22.2 %

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.

October 2025 Trading Volume Highlights   

U.S. Options

• Total volume across Cboe's four options exchanges set a monthly record in October, with an ADV of 21.4 million contracts, driven by monthly records in multi-list options (15.9 million) and Cboe's proprietary index options (5.5 million).
• Trading in S&P 500 Index (SPX) options set several volume records for the month, including:
  • New monthly ADV record of 4.4 million contracts.
  • New zero-days-to-expiry (0DTE) options monthly ADV record of 2.7 million contracts.
  • New single-day record of 6.4 million contracts, set on October 10.  

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

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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. 

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SOURCE Cboe Global Markets, Inc.

FAQ

What was Cboe (CBOE) total U.S. options ADV in October 2025?

Cboe reported a total U.S. options ADV of 21.4 million contracts for October 2025.

How did Cboe's multi‑listed options perform in Oct 2025 vs Oct 2024 (CBOE)?

Multi‑listed options ADV was 15.892 million contracts in Oct 2025, up 47.2% YoY from Oct 2024.

What SPX volume records did Cboe report for October 2025 (CBOE)?

Cboe reported SPX new monthly ADV record 4.4M, 0DTE monthly ADV record 2.7M, and a single‑day record 6.4M on Oct 10, 2025.

What was Cboe's index options ADV in October 2025 (CBOE)?

Index options ADV was 5.511 million contracts in Oct 2025, a 38.6% YoY increase.

How did Cboe report U.S. equities on‑exchange activity in Oct 2025 (CBOE)?

U.S. equities on‑exchange matched shares ADV was 2,020 million, up 56.7% YoY in Oct 2025.

Did Cboe report growth in its European and global businesses for Oct 2025 (CBOE)?

Yes. European equities value rose to €13,192 million ADV (+25.2% YoY) and global FX was $55,134 million ADV (+24.3% YoY) in Oct 2025.