November 1, 2013

CBOE Holdings Reports October Volume

- ADV Increased 34% from Year Ago and 15% from September
- Record Month for VIX Options, Second-Best Month for VIX Futures

CHICAGO, Nov. 1, 2013 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that October trading volume for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options Exchange (C2SM) and futures contracts on CBOE Futures ExchangeSM (CFE®)  totaled 126.24 million contracts. Average daily volume (ADV) was 5.49 million contracts, a 15-percent increase from September 2013 and a 34-percent increase from October 2012.

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

ADV for options on the CBOE Volatility Index® (VIX® Index) set an all-time monthly high during October at 738,445 contracts. VIX futures ADV established its second-best month ever, with 182,257 contracts.

CBOE Holdings Consolidated Trading Volume

Year-To-Date

(trades in thousands)

Oct-13

Oct-12

% Chg

Sep-13

% Chg

Oct-13

Oct-12

% Chg

Trading Days

23

21


20


211

209


Total Contracts 
(options & futures)

126,242.0

85,838.9

47%

95,479.1

32%

1,000,932.5

964,407.7

4%

Total Options Contracts 
(CBOE & C2)

122,036.3

83,389.5

46%

92,502.5

32%

966,501.7

945,706.1

2%

Total Futures Contracts
(CFE)

4,205.7

2,449.4

72%

2,976.6

41%

34,430.8

18,701.6

84%










Total ADV
(options & futures)

5,488.8

4,087.5

34%

4,773.9

15%

4,743.8

4,614.4

3%

Total Options ADV
(CBOE & C2)

5,305.9

3,970.9

34%

4,625.1

15%

4,580.6

4,524.9

1%

Total Futures ADV
(CFE)

182.9

116.6

57%

148.8

23%

163.2

89.5

82%

CBOE Trading Volume and Market Share

CBOE Trading Volume:

  • CBOE's October ADV was 4.97 million contracts, a 32-percent increase from October 2012 and a 14-percent increase from September 2013.
  • Index options ADV was 1.75 million contracts, a 47-percent increase from October 2012 and a 19-percent increase from September 2013.
  • Exchange traded product (ETP) options ADV was 1.23 million contracts, a 34-percent increase from October 2012 and a 10-percent increase from September 2013.
  • Equity options ADV was just under 2.00 million contracts, a 20-percent increase from October 2012 and a 12-percent increase from September 2013.
  • The five most actively traded index and ETP options at CBOE in October were S&P 500® Index (SPXSM) options, CBOE Volatility Index® (VIX® Index) options, Standard & Poor's Depositary Receipt (SPY) options, iPath S&P 500 VIX Short-Term Futures ETN (VXX) options and iShares Trust - Russell 2000® Index Fund (IWM) options.

CBOE Trading Volume Current Month

Year-To-Date

(trades in thousands)

Oct-13

Oct-12

% Chg

Sep-13

% Chg

Oct-13

Oct-12

% Chg

Trading Days

23

21


20


211

209


Total Exchange

114,316.0

79,104.3

45%

87,208.4

31%

901,320.5

903,762.4

0%

Total Exchange ADV

4,970.3

3,766.9

32%

4,360.4

14%

4,271.7

4,324.2

-1%

Equity Options

45,965.8

35,050.9

31%

35,685.8

29%

346,188.7

414,017.2

-16%

Equity Options ADV

1,998.5

1,669.1

20%

1,784.3

12%

1,640.7

1,980.9

-17%

Index Options

40,164.1

24,872.9

61%

29,319.5

37%

317,057.1

247,889.1

28%

Index Options ADV

1,746.3

1,184.4

47%

1,466.0

19%

1,502.6

1,186.1

27%

ETP Options

28,186.1

19,180.4

47%

22,203.1

27%

238,074.6

241,856.1

-2%

ETP Options ADV

1,225.5

913.4

34%

1,110.2

10%

1,128.3

1,157.2

-2%

Expanded full-year and October 2013 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 28.5 percent in October 2013, an increase of 4.1 percentage points from October 2012 and an increase of 0.9 of a percentage point from September 2013. 

CBOE Market Share Current Month

Year-To-Date


Oct-13

Oct-12

% Pt. Chg

Sep-13

% Pt. Chg

Oct-13

Oct-12

% Pt. Chg

Total Exchange

28.5%

24.4%

4.1%

27.6%

0.9%

25.9%

26.9%

-1.0%

Equity Options

20.5%

17.9%

2.6%

20.6%

-0.1%

18.2%

21.6%

-3.4%

Index Options

98.0%

94.5%

3.5%

97.5%

0.5%

96.5%

94.1%

2.4%

ETF Options

20.7%

18.8%

1.9%

19.8%

0.9%

19.1%

20.6%

-1.5%

C2 Trading Volume and Market Share

C2 Trading Volume:

  • C2's October trading volume totaled 7.72 million contracts. ADV was 335,700 contracts, a 64-percent increase from October 2012 and a 27-percent increase from September 2013.
  • Year to date through October, ADV increased 54 percent from the same period a year ago, driven primarily by a 116-percent increase in ETP options volume.

C2 Trading Volume Current Month

Year-To-Date

(trades in thousands)

Oct-13

Oct-12

% Chg

Sep-13

% Chg

Oct-13

Oct-12

% Chg

Trading Days

23

21


20


211

209


Total Exchange

7,720.2

4,285.2

80%

5,294.0

46%

65,181.1

41,943.8

55%

Total Exchange ADV

335.7

204.1

64%

264.7

27%

308.9

200.7

54%

Equity Options

1,288.7

1,731.9

-26%

938.4

37%

12,991.8

16,832.8

-23%

Equity Options ADV

56.0

82.5

-32%

46.9

19%

61.6

80.5

-24%

Index Options*

23.1

142.5

nm

14.7

nm

174.1

1,247.3

nm

Index Options ADV*

1.0

6.8

nm

0.7

36%

0.8

6.0

nm

ETP Options

6,408.5

2,410.9

166%

4,340.9

48%

52,015.2

23,863.6

118%

ETP Options ADV

278.6

114.8

143%

217.0

28%

246.5

114.2

116%

*Russell 2000 Index options began trading on C2 on September 3, 2013.  Prior period and year-to-date index options include SPXpm, 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 October 2013 was 1.9 percent, a 0.6-percentage-point increase from October 2012 and a 0.2-percentage-point increase from September 2013.

C2  Market Share Current Month

Year-To-Date


Oct-13

Oct-12

% Pt. Chg

Sep-13

% Pt. Chg

Oct-13

Oct-12

% Pt. Chg

Total Exchange

1.9%

1.3%

0.6%

1.7%

0.2%

1.9%

1.3%

0.6%

Equity Options

0.6%

0.9%

-0.3%

0.5%

0.1%

0.7%

0.9%

-0.2%

Index Options*

0.1%

0.5%

-0.5%

0.1%

--

0.1%

0.5%

-0.4%

ETF Options

4.7%

2.4%

2.3%

3.9%

0.8%

4.2%

2.0%

2.2%

*Russell 2000 Index options began trading on C2 on September 3, 2013.  Prior period and year-to-date index options include SPXpm, which was moved to CBOE from C2 on February 17, 2013.

CBOE Futures Exchange Trading Volume and Highlights

  • October trading volume in VIX futures totaled 4.19 million contracts, making it the second-most-active month ever for VIX futures trading.
  • Average daily volume in VIX futures during October was 182,257 contracts, a 57-percent increase from October 2012 and a 23-percent increase from September.
  • Year to date through October, VIX futures volume totaled over 34.23 million contracts, an 84-percent increase from the same period in 2012.

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:

Sep-13

Aug-13

Jul-13

Jun-13


Equity Options

$0.077

$0.081

$0.082

$0.090


Index Options

$0.669

$0.671

$0.670

$0.675


ETP Options

$0.123

$0.122

$0.121

$0.119


     Total Options Average Revenue Per Contract

$0.273

$0.278

$0.282

$0.289


Futures

$1.559

$1.533

$1.544

$1.544


     Total Average Revenue Per Contract

$0.315

$0.321

$0.324

$0.334


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®, Chicago Board Options Exchange®, CFE®, FLEX®, LEAPS®, CBOE Volatility Index® and VIX® are registered trademarks, and BuyWriteSM, BXMSM, CBOE Futures ExchangeSM, Execute SuccessSM, SPXSM, 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). 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.

CBOE-V
CBOE-2
CBOE-EF

SOURCE CBOE Holdings, Inc.

News Provided by Acquire Media


Close window | Back to top

Copyright 2014 CBOE Holdings