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CBOE Holdings Reports April 2013 Trading Volume (pdf, 34KB, opens in a new window) Print

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CBOE Holdings Reports April 2013 Trading Volume

May 1, 2013

CBOE C2

- VIX Futures Post Busiest Month Ever
- C2 Establishes All-Time Monthly Records

CHICAGO, May 1, 2013 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that April trading volume for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options Exchange (C2SM) and futures contracts on CBOE Futures Exchange, LLC (CFE®) totaled 102.70 million contracts. Average daily volume (ADV) in April was 4.67 million contracts, up four percent from 4.49 million contracts in March 2013 and up one percent from 4.63 million contracts in April 2012. 

(Logo: http://photos.prnewswire.com/prnh/20121022/MM97794LOGO-a)

Also in April, futures on the CBOE Volatility Index® (VIX® Index), traded on CFE, posted their busiest month ever, and C2 set all-time monthly total volume, average daily volume and market share records.  

CBOE Holdings Consolidated Trading Volume

Year-To-Date

(trades in thousands)

Apr-13

Apr-12

% Chg

Mar-13

% Chg

Apr-13

Apr-12

% Chg

Trading Days

22

20


20


82

82


Total Contracts      (options & futures)

102,701.1

92,556.6

11%

89,811.7

14%

364,673.1

395,224.1

-8%

Total Options Contracts      (CBOE & C2)

98,631.5

90,864.0

9%

86,582.8

14%

351,359.2

389,407.9

-10%

Total Futures Contracts (CFE)

4,069.6

1,692.6

140%

3,228.9

26%

13,313.9

5,816.2

129%










Total ADV                 (options & futures)

4,668.2

4,627.8

1%

4,490.5

4%

4,447.3

4,819.8

-8%

Total Options ADV    (CBOE & C2)

4,483.2

4,543.2

-1%

4,329.1

4%

4,284.9

4,748.9

-10%

Total Futures ADV      (CFE)

185.0

84.6

119%

161.4

15%

162.4

70.9

129%

CBOE Trading Volume and Market Share

CBOE Trading Volume:

  • CBOE ADV was 4.08 million contracts, down six percent from April 2012 ADV of 4.33 million contracts and up one percent from March 2013 ADV of 4.04 million contracts.
  • CBOE index options ADV was 1.43 million contracts, up 26 percent from April 2012 and down eight percent from March 2013. 
  • SPXpm options, which moved from C2 to CBOE in mid-February 2013, established a new monthly volume record of 170,096 contracts during April, compared to 105,097 contracts traded in February. The previous SPXpm options monthly volume record was 165,378 contracts in March 2012.
  • CBOE ETP options ADV was just less than two million contracts, up ten percent from April 2012 and up 18 percent from March 2013.
  • CBOE equity options ADV was 1.45 million contracts, down 31 percent from April 2012 and down one percent from March 2013.
  • The five most actively traded index and ETP options at CBOE in April were S&P 500® Index (SPXSM) options, CBOE Volatility Index® (VIX® Index) options, Standard & Poor's Depositary Receipt (SPY) options, iShares Trust - Russell 2000 Index Fund (IWM) options and iPath S&P 500 VIX Short-Term Futures ETN (VXX) options.

CBOE Trading Volume Current Month

Year-To-Date

(trades in thousands)

Apr-13

Apr-12

% Chg

Mar-13

% Chg

Apr-13

Apr-12

% Chg

Trading Days

22

20


20


82

82


Total Exchange

89,844.1

86,654.2

4%

80,802.2

11%

326,539.8

371,422.3

-12%

Total Exchange ADV

4,083.8

4,332.7

-6%

4,040.1

1%

3,982.2

4,529.5

-12%

Equity Options

31,982.8

42,071.4

-24%

29,346.3

9%

123,348.1

180,255.6

-32%

Equity Options ADV

1,453.8

2,103.6

-31%

1,467.3

-1%

1,504.2

2,198.2

-32%

Index Options

31,476.7

22,731.8

38%

31,055.0

1%

121,386.6

95,149.6

28%

Index Options ADV

1,430.8

1,136.6

26%

1,552.8

-8%

1,480.3

1,160.4

28%

ETP Options

26,384.6

21,850.9

21%

20,400.9

29%

81,805.2

96,017.0

-15%

ETP Options ADV

1,199.3

1,092.5

10%

1,020.0

18%

997.6

1,170.9

-15%

Expanded full-year and April 2013 volume information for CBOE index and ETP options is available at: www.cboe.com/data/monthlyvolume.aspx.

CBOE Market Share:
CBOE market share of total U.S. options industry volume was 24.2 percent in April 2013, down 1.7 percentage points from March 2013 and down 2.9 percentage points from April 2012. If the volume from dividend trades was excluded from industry data for April, the Exchange's total market share would be 24.5 percent. Exclusion of dividend trades from total industry volume data presents a more relevant measure of the relative trends in the options business.

CBOE Market Share Current Month

Year-To-Date


Apr-13

Apr-12

% Pt. Chg

Mar-13

% Pt. Chg

Apr-13

Apr-12

% Pt. Chg

Total Exchange

24.2%

27.1%

-2.9%

25.9%

-1.7%

23.9%

26.9%

-3.0%

Total Exchange
(excl. dividend trades)

24.5%

28.0%

-3.5%

26.7%

-2.2%

24.5%

28.4%

-3.9%

Equity Options

16.5%

22.3%

-5.8%

17.6%

-1.1%

16.1%

21.9%

-5.8%

Equity Options
(excl. dividend trades)

16.8%

24.1%

-7.3%

18.2%

-1.4%

16.7%

24.2%

-7.5%

Index Options

94.3%

94.0%

0.3%

95.5%

-1.2%

94.8%

94.5%

0.3%

Index Options
(excl. dividend trades)

94.4%

93.7%

0.7%

95.6%

-1.2%

94.9%

94.4%

0.5%

ETP Options

18.4%

20.4%

-2.0%

18.1%

0.3%

17.4%

21.0%

-3.6%

ETP Options
(excl. dividend trades)

18.4%

20.4%

-2.0%

18.7%

-0.3%

17.5%

21.4%

-3.9%

C2 Trading Volume and Market Share

C2 Trading Volume:
In April, C2 set all-time monthly records for volume and ADV. Volume totaled 8.79 million contracts (ADV -- 399,400 contracts). April's volume and ADV records surpassed the previous records established in August 2011 when 7.15 million contracts changed hands (ADV — 310,800 contracts). ETP option ADV rose 194 percent and 47 percent from April 2012 and March 2013, respectively.

C2 Trading Volume Current Month

Year-To-Date


(trades in thousands)

Apr-13

Apr-12

% Chg

Mar-13

% Chg

Apr-13

Apr-12

% Chg


Trading Days

22

20


20


82

82



Total Exchange

8,787.4

4,209.8

109%

5,780.7

52%

24,819.4

17,985.6

38%


Total Exchange ADV

399.4

210.5

90%

289.0

38%

302.7

219.3

38%


Equity Options

1,232.0

1,743.5

-29%

1,106.0

11%

6,151.9

7,418.7

-17%


Equity Options ADV

56.0

87.2

-36%

55.3

1%

75.0

90.5

-17%


Index Options*

--

128.0

--

--

--

136.3

488.2

--


Index Options ADV*

--

6.4

--

--

--

1.7

6.0

--


ETP Options

7,555.3

2,338.3

223%

4,674.7

62%

18,531.2

10,078.7

84%


ETP Options ADV

343.4

116.9

194%

233.7

47%

226.0

122.9

84%


*SPXpm moved from C2 to CBOE on February 19, 2013.

C2 Market Share:
C2 market share of total industry volume in April 2013 was 2.4 percent — the exchange's highest monthly market share ever — up 1.1 percentage points from April 2012 and up 0.5 of a percentage point from March 2013. ETP option market share in April was 5.3 percent, up 3.3 percentage points from April 2012 and up 1.1 percentage points from March 2013.

C2  Market Share Current Month

Year-To-Date


Apr-13

Apr-12

% Pt. Chg

Mar-13

% Pt. Chg

Apr-13

Apr-12

% Pt.  Chg

Total Exchange

2.4%

1.3%

1.1%

1.9%

0.5%

1.8%

1.3%

0.5%

Total Exchange
(excl. dividend trades)

2.4%

0.9%

1.5%

1.9%

0.5%

1.9%

1.4%

0.5%

Equity Options

0.6%

0.9%

-0.3%

0.7%

-0.1%

0.8%

0.9%

-0.1%

Equity Options
(excl. dividend trades)

0.6%

1.0%

-0.4%

0.7%

-0.1%

0.8%

1.0%

-0.2%

Index Options*

--

0.6%

--

--

--

0.1%

0.5%

--

Index Options*
(excl. dividend trades)

--

0.6%

--

--

--

0.1%

0.5%

--

ETP Options

5.3%

2.0%

3.3%

4.2%

1.1%

3.9%

2.2%

1.7%

ETP Options
(excl. dividend trades)

5.3%

2.2%

3.1%

4.3%

1.0%

4.0%

2.2%

1.8%

*SPXpm moved from C2 to CBOE on February 19, 2013.

CBOE Futures Exchange Trading Volume

  • April ranked as the busiest month ever for VIX futures contract total volume and ADV.
  • VIX futures volume totaled a record 4,056,760 contracts, surpassing the previous monthly volume record of 3,220,977 contracts traded in March 2013. April was the first month in which VIX futures volume exceeded four million contracts and a fourth consecutive record volume month.
  • VIX futures ADV was a record 184,398 contracts, surpassing the previous record ADV of 161,176 contracts in February 2013. ADV was up 119 percent over April 2012 and 14 percent over March 2013.
  • CBOE Gold ETF Volatility Index security futures volume hit a record 6,120 contracts during the month versus the previous record of 1,619 contracts in August 2012.

CBOE Holdings Average Revenue Per Contract  
The company will report its average transaction fee per contract for the three months ended March 31, 2013, in conjunction with its quarterly earnings news release, which will be issued on Friday, May 3, 2013.  This information also will be posted to the Investor Relations section of CBOE's web site under Financial Information, Supplemental Information.

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, 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 is regulated by the Securities and Exchange Commission (SEC), with all trades cleared by the OCC.

CBOE®, Chicago Board Options Exchange®, CFE®, FLEX®, LEAPS®, CBOE Volatility Index® and VIX® are registered trademarks, and BuyWriteSM, BXMSM, CBOE Futures ExchangeSM, Execute SuccessSM, SPXSM, SPXpmSM, and The Options Institute are service marks of Chicago Board Options Exchange, Incorporated (CBOE). C2SM and C2 Options ExchangeSM are service marks of C2 Options Exchange, Incorporated (C2). 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.

CBOE-V
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SOURCE CBOE Holdings, Inc.

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