July 1, 2014

CBOE Holdings Reports June 2014 Trading Volume

Year-To-Date ADV 12% Ahead of 2013

CHICAGO, July 1, 2014 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that June 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 100.18 million contracts. Average daily volume (ADV) was 4.77 million contracts, an 11-percent decrease from June 2013 and a three-percent increase from May 2014.

CBOE Holdings, Inc. logo.

CBOE Holdings' year-to-date ADV through June was 5.22 million contracts, a 12-percent increase from the same period one year ago.

CBOE Holdings Consolidated Trading Volume

Year-To-Date

(trades in thousands)

Jun-14

Jun-13

% Chg

May-14

% Chg

Jun-14

Jun-13

% Chg

Trading Days

21

20


21


124

124


Total Contracts      (options & futures)

100,180.9

107,522.7

-7%

97,077.3

3%

647,247.7

579,332.5

12%

Total Options Contracts      (CBOE & C2)

96,523.9

103,302.3

-7%

94,047.7

3%

624,422.2

558,577.2

12%

Total Futures Contracts (CFE)

3,657.0

4,220.4

-13%

3,029.6

21%

22,825.5

20,755.3

10%










Total ADV                 (options & futures)

4,770.5

5,376.1

-11%

4,622.8

3%

5,219.8

4,672.1

12%

Total Options ADV    (CBOE & C2)

4,596.4

5,165.1

-11%

4,478.5

3%

5,035.7

4,504.7

12%

Total Futures ADV      (CFE)

174.1

211.0

-17%

144.3

21%

184.1

167.4

10%

CBOE Trading Volume and Market Share

CBOE Trading Volume:

  • CBOE's June ADV was 4.30 million contracts, an 11-percent decrease from June 2013 and a two-percent increase from May 2014.
  • Index options ADV was 1.51 million contracts, a 10-percent decrease from June 2013 and a three-percent increase from May 2014.  
  • Equity options ADV was 1.74 million contracts, an eight-percent increase from June 2013 and a four-percent increase from May 2014.
  • Exchange traded product (ETP) options ADV was 1.06 million contracts, a 32-percent decrease from June 2013 and a two-percent decrease from May 2014.
  • The five most actively traded index and ETP options at CBOE in June were options on S&P 500® Index (SPX), CBOE Volatility Index® (VIX® Index), Standard & Poor's Depositary Receipt (SPY), iPath S&P 500 VIX Short-Term Futures ETN (VXX), and iShares Trust - Russell 2000® Index Fund (IWM).

CBOE Trading Volume Current Month

Year-To-Date

(trades in thousands)

Jun-14

Jun-13

%
Chg

May-14

%
Chg

Jun-14

Jun-13

%
Chg

Trading Days

21

20


21


124

124


Total Exchange

90,294.5

96,584.5

-7%

88,428.8

2%

588,014.4

518,372.6

13%

Total Exchange ADV

4,299.7

4,829.2

-11%

4,210.9

2%

4,742.1

4,180.4

13%

Equity Options

36,505.2

32,103.1

14%

35,189.9

4%

240,907.4

190,215.4

27%

Equity Options ADV

1,738.3

1,605.2

8%

1,675.7

4%

1,942.8

1,534.0

27%

Index Options

31,616.9

33,464.7

-6%

30,566.9

3%

199,244.8

188,695.5

6%

Index Options ADV

1,505.6

1,673.2

-10%

1,455.6

3%

1,606.8

1,521.7

6%

ETP Options

22,172.3

31,016.7

-29%

22,672.0

-2%

147,862.1

139,461.7

6%

ETP Options ADV

1,055.8

1,550.8

-32%

1,079.6

-2%

1,192.4

1,124.7

6%

Expanded June 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 28.1 percent in June 2014, an increase of 1.4 percentage points from June 2013 and an increase of 0.1 of a percentage point from May 2014.

CBOE Market Share Current Month

Year-To-Date


Jun-14

Jun-13

% Pt.
Chg

May-14

% Pt.
 Chg

Jun-14

Jun-13

% Pt.
Chg

Total Exchange

28.1%

26.7%

1.4%

28.0%

0.1%

28.2%

24.5%

3.7%

Equity Options

20.1%

18.9%

1.2%

20.4%

-0.3%

20.8%

16.6%

4.2%

Index Options

95.7%

97.7%

-2.0%

96.8%

-1.1%

96.6%

95.7%

0.9%

ETP Options

20.8%

19.7%

1.1%

20.3%

0.5%

20.5%

18.1%

2.4%

C2 Trading Volume and Market Share

C2 Trading Volume:

C2's June trading volume totaled 6.23 million contracts. ADV was 296,600 contracts, a 12-percent decrease from June 2013 and an 11-percent increase from May 2014.

C2 Trading Volume Current Month

Year-To-Date

(trades in thousands)

Jun-14

Jun-13

%
Chg

May-14

%
Chg

Jun-14

Jun-13

%
Chg

Trading Days

21

20


21


124

124


Total Exchange

6,229.5

6,717.8

-7%

5,618.9

11%

36,407.8

40,204.6

-9%

Total Exchange ADV

296.6

335.9

-12%

267.6

11%

293.6

324.2

-9%

Equity Options

816.0

958.2

-15%

817.4

0%

4,910.9

8,389.7

-41%

Equity Options ADV

38.9

47.9

-19%

38.9

0%

39.6

67.7

-41%

Index Options*

25.0

--

--

39.0

-36%

208.7

136.3

nm

Index Options ADV*

1.2

--

--

1.9

-36%

1.7

1.1

nm

ETP Options

5,388.4

5,759.7

-6%

4,762.5

13%

31,288.2

31,678.7

-1%

ETP Options ADV

256.6

288.0

-11%

226.8

13%

252.3

255.5

-1%

*Russell 2000 Index options began trading on C2 on September 3, 2013.  2013 year-to-date index options include SPXpmSM, which traded on C2 until it was moved to CBOE on February 17, 2013.

nm - not meaningful

News Release: CBOE Holdings June 2014 Volume Report 

C2 Market Share:

C2 market share of total industry volume in June 2014 was 1.9 percent, unchanged from June 2013 and an increase of 0.1 of a percentage point from May 2014.

C2  Market Share Current Month

Year-To-Date


Jun-14

Jun-13

% Pt.
Chg

May-14

% Pt.
Chg

Jun-14

Jun-13

% Pt.
Chg

Total Exchange

1.9%

1.9%

--

1.8%

0.1%

1.7%

1.9%

-0.2%

Equity Options

0.4%

0.6%

-0.2%

0.5%

-0.1%

0.4%

0.7%

-0.3%

Index Options

0.1%

--

nm

0.1%

--

0.1%

0.1%

--

ETF Options

5.0%

3.7%

1.3%

4.3%

0.7%

4.3%

4.1%

0.2%

nm - not meaningful

CBOE Futures Exchange (CFE) Trading Volume and Highlights

  • VIX futures volume during June totaled nearly 3.7 million contracts. 
  • VIX futures ADV was 173,893 contracts, a 21-percent increase from May 2014 and a 17-percent decrease from June 2013.
  • Year-to-date through June, VIX futures ADV and total volume are 10 percent ahead of the prior-year period.
  • On June 22, CFE expanded VIX futures trading hours to nearly 24 hours a day, five days a week.  The trading week for VIX futures at CFE now begins each Sunday at 5:00 p.m. CT and ends each Friday at 3:15 p.m. CT.  Year-to-date, volume in VIX futures during all non-U.S. trading hours is averaging more than 14,000 contracts per day, accounting for 7.7 percent of CFE's total daily volume. 

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:

May-14

Apr-14

Mar-14

Feb-14

Equity Options

$0.081

$0.082

$0.081

$0.079

Index Options

$0.674

$0.674

$0.669

$0.667

ETP Options

$0.113

$0.113

$0.117

$0.119

     Total Options Average Revenue Per Contract

$0.275

$0.277

$0.281

$0.281

Futures

$1.616

$1.610

$1.617

$1.614

     Total Average Revenue Per Contract

$0.321

$0.325

$0.329

$0.329

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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