In the news release, CBOE Holdings Reports May 2014 Trading Volume, issued 02-Jun-2014 by CBOE Holdings, Inc. over PR Newswire, we are advised by the company that some of the numbers in the CBOE Holdings Consolidated Trading Volume table are incorrect. The below table and related content have been revised to incorporate the corrected numbers:
CBOE Holdings Reports May 2014 Trading Volume
Year-To-Date ADV 17% Ahead of 2013
CHICAGO, June 2, 2014 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that May 2014 trading volume for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options ExchangeSM (C2SM) and futures contracts on CBOE Futures ExchangeSM (CFE®) totaled 97.08 million contracts. Average daily volume (ADV) was 4.62 million contracts, a five-percent decrease from May 2013 and a nine-percent decrease from April 2014.
CBOE Holdings' year-to-date ADV through May was 5.31 million contracts, an increase of 17 percent from the same period one year ago.
CBOE Holdings Consolidated Trading Volume |
Year-To-Date |
|||||||
(trades in thousands) |
May 2014 |
May 2013 |
% Chg |
Apr 2014 |
% Chg |
May 2014 |
May 2013 |
% Chg |
Trading Days |
21 |
22 |
21 |
103 |
104 |
|||
Total Contracts (options & futures) |
97,077.3 |
107,136.5 |
-9% |
107,172.2 |
-9% |
547,066.7 |
471,809.6 |
16% |
Total Options Contracts (CBOE & C2) |
94,047.7 |
103,915.6 |
-9% |
103,425.0 |
-9% |
527,898.2 |
455,274.8 |
16% |
Total Futures Contracts (CFE) |
3,029.6 |
3,220.9 |
-6% |
3,747.2 |
-19% |
19,168.5 |
16,534.8 |
16% |
Total ADV (options & futures) |
4,622.8 |
4,869.8 |
-5% |
5,103.4 |
-9% |
5,311.3 |
4,536.6 |
17% |
Total Options ADV (CBOE & C2) |
4,478.5 |
4,723.4 |
-5% |
4,925.0 |
-9% |
5,125.2 |
4,377.6 |
17% |
Total Futures ADV (CFE) |
144.3 |
146.4 |
-1% |
178.4 |
-19% |
186.1 |
159.0 |
17% |
CBOE Trading Volume and Market Share
CBOE Trading Volume:
- CBOE's May ADV was 4.21 million contracts, a three-percent decrease from May 2013 and a nine-percent decrease from April 2014.
- Index options ADV was 1.46 million contracts, a five-percent decrease from May 2013 and even with April 2014.
- Equity options ADV was 1.68 million contracts, a six-percent increase from May 2013 and an 11-percent decrease from April 2014.
- Exchange traded product (ETP) options ADV was 1.08 million contracts, an 11-percent decrease from May 2013 and a 16-percent decrease from April 2014.
- The five most actively traded index and ETP options at CBOE in May were S&P 500® Index (SPX), CBOE Volatility Index® (VIX Index®), Standard & Poor's Depositary Receipt (SPY), iShares Trust - Russell 2000® Index Fund (IWM) and PowerShares QQQ Trust (QQQ).
CBOE Trading Volume Current Month |
Year-To-Date |
|||||||
(trades in thousands) |
May 2014 |
May 2013 |
% Chg |
Apr 2014 |
% Chg |
May 2014 |
May 2013 |
% Chg |
Trading Days |
21 |
22 |
21 |
103 |
104 |
|||
Total Exchange |
88,428.8 |
95,248.2 |
-7% |
96,866.6 |
-9% |
497,719.9 |
421,788.1 |
18% |
Total Exchange ADV |
4,210.9 |
4,329.5 |
-3% |
4,612.7 |
-9% |
4,832.2 |
4,055.7 |
19% |
Equity Options |
35,189.9 |
34,764.2 |
1% |
39,379.1 |
-11% |
204,402.2 |
158,112.3 |
29% |
Equity Options ADV |
1,675.7 |
1,580.2 |
6% |
1,875.2 |
-11% |
1,984.5 |
1,520.3 |
31% |
Index Options |
30,566.9 |
33,844.2 |
-10% |
30,477.4 |
-- |
167,627.9 |
155,230.8 |
8% |
Index Options ADV |
1,455.6 |
1,538.4 |
-5% |
1,451.3 |
-- |
1,627.5 |
1,492.6 |
9% |
ETP Options |
22,672.0 |
26,639.8 |
-15% |
27,010.0 |
-16% |
125,689.8 |
108,445.0 |
16% |
ETP Options ADV |
1,079.6 |
1,210.9 |
-11% |
1,286.2 |
-16% |
1,220.3 |
1,042.7 |
17% |
Expanded May 2014 and year-to-date volume information for CBOE index and ETP options is available at: www.cboe.com/data/monthlyvolume.aspx.
CBOE Market Share:
CBOE's market share of total U.S. options industry volume was 28.0 percent in May 2014, an increase of 3.4 percentage points from May 2013 and an increase of 0.8 of a percentage point from April 2014.
CBOE Market Share Current Month |
Year-To-Date |
|||||||
May 2014 |
May 2013 |
% Pt. Chg |
Apr 2014 |
% Pt. Chg |
May 2014 |
May 2013 |
% Pt. Chg |
|
Total Exchange |
28.0% |
24.6% |
3.4% |
27.2% |
0.8% |
28.3% |
24.1% |
4.2% |
Equity Options |
20.4% |
16.5% |
3.9% |
20.1% |
0.3% |
21.0% |
16.2% |
4.8% |
Index Options |
96.8% |
97.2% |
-0.4% |
96.0% |
0.8% |
96.8% |
95.3% |
1.5% |
ETP Options |
20.3% |
18.9% |
1.4% |
21.0% |
-0.7% |
20.5% |
17.4% |
3.1% |
C2 Trading Volume and Market Share
C2 Trading Volume:
C2's May trading volume totaled 5.62 million contracts. ADV was 267,600 contracts, a 32-percent decrease from May 2013 and a 14-percent decrease from April 2014.
C2 Trading Volume Current Month |
Year-To-Date |
|||||||
(trades in thousands) |
May 2014 |
May 2013 |
% Chg |
Apr 2014 |
% Chg |
May 2014 |
May 2013 |
% Chg |
Trading Days |
21 |
22 |
21 |
103 |
104 |
|||
Total Exchange |
5,618.9 |
8,667.4 |
-35% |
6,558.4 |
-14% |
30,178.3 |
33,486.8 |
-10% |
Total Exchange ADV |
267.6 |
394.0 |
-32% |
312.3 |
-14% |
293.0 |
322.0 |
-9% |
Equity Options |
817.4 |
1,279.6 |
-36% |
1,039.8 |
-21% |
4,094.8 |
7,431.5 |
-45% |
Equity Options ADV |
38.9 |
58.2 |
-33% |
49.5 |
-21% |
39.8 |
71.5 |
-44% |
Index Options* |
39.0 |
-- |
nm |
38.7 |
1% |
183.7 |
136.3 |
nm |
Index Options ADV* |
1.9 |
-- |
nm |
1.8 |
1% |
1.8 |
1.3 |
nm |
ETP Options |
4,762.5 |
7,387.8 |
-36% |
5,480.0 |
-13% |
25,899.8 |
25,919.0 |
-- |
ETP Options ADV |
226.8 |
335.8 |
-32% |
261.0 |
-13% |
251.5 |
249.2 |
1% |
*Russell 2000 Index options began trading on C2 on September 3, 2013. Prior period and year-to-date index options include SPXpmSM, which was moved to CBOE from C2 on February 17, 2013.
nm – not meaningful
C2 Market Share:
C2 market share of total industry volume in May 2014 was 1.8 percent, a 0.6-percentage-point decrease from May 2013 and even with April 2014.
C2 Market Share Current Month |
Year-To-Date |
|||||||
May 2014 |
May 2013 |
% Pt. Chg |
Apr 2014 |
% Pt. Chg |
May 2014 |
May 2013 |
% Pt. Chg |
|
Total Exchange |
1.8% |
2.4% |
-0.6% |
1.8% |
-- |
1.7% |
1.9% |
-0.2% |
Equity Options |
0.5% |
0.6% |
-0.1% |
0.5% |
-- |
0.4% |
0.8% |
-0.4% |
Index Options* |
0.1% |
-- |
nm |
0.1% |
-- |
0.1% |
0.1% |
-- |
ETP Options |
4.3% |
5.3% |
-1.0% |
4.3% |
-- |
4.2% |
3.9% |
0.3% |
*Russell 2000 Index options began trading on C2 on September 3, 2013. Prior period and year-to-date index options include SPXpmSM, which was moved to CBOE from C2 on February 17, 2013.
nm – not meaningful
CFE Trading Volume and Highlights
- VIX futures volume during May totaled 3.02 million contracts.
- VIX futures ADV was 143,946 contracts, a one-percent decrease from May 2013 and a 19-percent decrease from April 2014.
- Year-to-date through May, VIX futures total volume of 19.14 million contracts is 16 percent ahead of the prior year period, and ADV of 185,837 contracts per day is 17 percent ahead of the prior year period.
- CFE plans to expand VIX futures trading hours to nearly 24 hours a day, five days a week, beginning Sunday, June 22, 2014, pending regulatory review. The trading week for VIX futures at CFE will begin each Sunday at 5:00 p.m. CT and end on Friday at 3:15 p.m. CT. CFE will close for 15 minutes between 3:15 p.m. CT and 3:30 p.m. CT on Monday through Thursday, when no trading will be transacted. The new trading day on those days will then begin at 3:30 p.m. CT.
CBOE Holdings Average Revenue Per Contract
The following represents the average revenue per contract based on a three-month rolling average, reported on a one-month lag. The average revenue per contract represents total transaction fees for CBOE, C2 and CFE recognized for the period divided by total contracts traded on all three exchanges during the period. Average revenue per contract can be affected by various factors, including exchange fee rates, volume-based discounts and transaction mix by contract type and product type.
(In Dollars) |
Three-Month Period Ended |
|||
Product: |
Apr 2014 |
Mar 2014 |
Feb 2014 |
Jan 2014 |
Equity Options |
$0.082 |
$0.081 |
$0.079 |
$0.079 |
Index Options |
$0.674 |
$0.669 |
$0.667 |
$0.664 |
ETP Options |
$0.113 |
$0.117 |
$0.119 |
$0.124 |
Total Options Average Revenue Per Contract |
$0.277 |
$0.281 |
$0.281 |
$0.273 |
Futures |
$1.610 |
$1.617 |
$1.614 |
$1.602 |
Total Average Revenue Per Contract |
$0.325 |
$0.329 |
$0.329 |
$0.317 |
About CBOE Holdings
CBOE Holdings, Inc. (NASDAQ: CBOE) is the holding company for Chicago Board Options Exchange, Incorporated (CBOE), CBOE Futures Exchange, LLC (CFE) and other subsidiaries. CBOE, the largest U.S. options exchange and creator of listed options, continues to set the bar for options and volatility trading through product innovation, trading technology and investor education. CBOE Holdings offers equity, index and ETP options, including proprietary products, such as S&P 500 options (SPX), the most active U.S. index option, and options and futures on the CBOE Volatility Index (the VIX Index). Other products engineered by CBOE include equity options, security index options, Weeklys options, LEAPS options, FLEX options, and benchmark products such as the CBOE S&P 500 BuyWrite Index (BXM). CBOE Holdings is home to the world-renowned Options Institute and www.cboe.com, the go-to place for options and volatility trading resources.
CBOE-V
CBOE-2
CBOE-EF
CBOE®, Chicago Board Options Exchange®, CFE®, Execute Success®, FLEX®, LEAPS®, CBOE Volatility Index® and VIX® are registered trademarks, and BuyWriteSM, BXMSM, CBOE Futures ExchangeSM, SPXSM, SPXpmSM, The Options Institute and Weeklys are service marks of Chicago Board Options Exchange, Incorporated (CBOE). C2SM and C2 Options ExchangeSM are service marks of C2 Options Exchange, Incorporated (C2). Russell 2000® is a registered trademark of Russell Investments, used under license. Standard & Poor's®, S&P® and S&P 500® are registered trademarks of Standard & Poor's Financial Services, LLC and have been licensed for use by CBOE, C2 and CFE. All other trademarks and service marks are the property of their respective owners.
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SOURCE CBOE Holdings, Inc.
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