CHICAGO, April 3,
2024 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe:
CBOE), the world's leading derivatives and securities exchange
network, today reported March 2024
trading volume statistics across its global business lines and
provided guidance for selected revenue per contract/net revenue
capture metrics for the first quarter of 2024.
The data sheet "Cboe Global Markets Monthly Volume & RPC/Net
Revenue Capture Report" contains an overview of certain March
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
|
|
|
|
|
|
|
|
|
|
Mar
2024
|
Mar
2023
|
%
Chg
|
Feb
2024
|
%
Chg
|
Mar
2024
|
Mar
2023
|
%
Chg
|
Multiply-listed options
(contracts, k)
|
10,570
|
10,795
|
-2.1 %
|
11,114
|
-4.9 %
|
10,744
|
11,062
|
-2.9 %
|
Index options
(contracts, k)
|
4,057
|
3,867
|
4.9 %
|
4,090
|
-0.8 %
|
4,089
|
3,595
|
13.7 %
|
Futures (contracts,
k)
|
217.1
|
269
|
-19.2 %
|
213
|
1.8 %
|
220
|
232
|
-5.1 %
|
U.S. Equities -
On-Exchange (matched shares, mn)
|
1,464
|
1,629
|
-10.1 %
|
1,528
|
-4.2 %
|
1,510
|
1,501
|
0.6 %
|
U.S. Equities -
Off-Exchange (matched shares, mn)
|
75
|
89
|
-16.1 %
|
86
|
-13.2 %
|
77
|
89
|
-13.8 %
|
Canadian Equities
(matched shares, k)
|
159,704
|
146,362
|
9.1 %
|
143,922
|
11.0 %
|
146,253
|
150,812
|
-3.0 %
|
European Equities (€,
mn)
|
10,248
|
12,301
|
-16.7 %
|
10,093
|
1.5 %
|
9,918
|
11,383
|
-12.9 %
|
Cboe Clear Europe
Cleared Trades1 (k)
|
96,734
|
133,217
|
-27.4 %
|
98,689
|
-2.0 %
|
294,326
|
359,418
|
-18.1 %
|
Cboe Clear Europe Net
Settlements1 (k)
|
828
|
970
|
-14.7 %
|
825
|
0.3 %
|
2,525
|
2,662
|
-5.2 %
|
Australian Equities
(AUD, mn)
|
814
|
805
|
1.2 %
|
809
|
0.6 %
|
765
|
755
|
1.4 %
|
Japanese Equities (JPY,
bn)
|
357
|
189
|
89.3 %
|
316
|
13.2 %
|
316
|
183
|
72.4 %
|
Global FX ADNV ($,
mn)
|
47,346
|
49,560
|
-4.5 %
|
43,628
|
8.5 %
|
45,256
|
44,992
|
0.6 %
|
1 Cboe
Clear Europe figures are totals (not ADV) for the months and
years-to-date. As of April 2023, data has been restated to reflect
both On-Book and Off-Book cleared trades.
|
March and First Quarter 2024 Trading Volume Highlights
US Options and Futures
- A record-setting block trade in Cboe iBoxx iShares $ High Yield
Corporate Bond Index (IBHY) Futures, representing $75 million in notional value, was executed on
March 22nd
Cboe Japan
- Cboe Japan achieved a new monthly lit market share record of
5.3%, surpassing its last record set in February 2023.
First-Quarter 2024 RPC/Net Revenue Capture
Guidance
The projected RPC/net capture metrics for the first
quarter of 2024 are estimated, preliminary and may change. There
can be no assurance that our final RPC for the three months ended
March 31, 2024, will not differ
materially from these projections.
(In USD unless
stated otherwise)
|
|
Three-Months
Ended
|
Product:
|
1Q
Projection
|
Feb-24
|
Jan-24
|
Dec-23
|
Multiply-Listed Options
(per contract)
|
$0.066
|
$0.065
|
$0.061
|
$0.060
|
Index
Options
|
$0.914
|
$0.919
|
$0.916
|
$0.908
|
Total
Options
|
$0.299
|
$0.300
|
$0.298
|
$0.297
|
Futures (per
contract)
|
$1.749
|
$1.743
|
$1.739
|
$1.729
|
U.S. Equities -
Exchange (per 100 touched shares)
|
$0.019
|
$0.011
|
$0.011
|
$0.013
|
U.S. Equities -
Off-Exchange (per 100 touched shares)
|
$0.141
|
$0.144
|
$0.143
|
$0.143
|
Canadian Equities (per
10,000 touched shares)
|
CAD 4.016
|
CAD 4.014
|
CAD 3.964
|
CAD 3.905
|
European Equities (per
matched notional value)
|
0.247
|
0.247
|
0.241
|
0.233
|
Australian Equities
(per matched notional value)
|
0.151
|
0.149
|
0.154
|
0.157
|
Japanese Equities (per
matched notional value)
|
0.227
|
0.278
|
0.266
|
0.252
|
Global FX (per one
million dollars traded)
|
$2.689
|
$2.610
|
$2.600
|
$2.603
|
Cboe Clear Europe Fee
per Trade Cleared
|
€ 0.008
|
€ 0.008
|
€ 0.009
|
€ 0.010
|
Cboe Clear Europe Net
Fee per Settlement
|
€ 1.100
|
€ 1.020
|
€ 0.954
|
€ 0.899
|
The above represents average revenue per contract (RPC) or net
capture is based on a three-month rolling average, reported on a
one-month lag. Average transaction fees per contract can be
affected by various factors, including exchange fee rates,
volume-based discounts and transaction mix by contract type and
product type.
- For Options and Futures, the average RPC represents total net
transaction fees recognized for the period divided by total
contracts traded during the period for options exchanges: BZX
Options, Cboe Options, C2 Options and EDGX Options; futures include
contracts traded on Cboe Futures Exchange, LLC (CFE).
- For U.S. Equities, "net capture per 100 touched shares" refers
to transaction fees less liquidity payments and routing and
clearing costs divided by the product of one-hundredth ADV of
touched shares on BZX, BYX, EDGX and EDGA and the number of trading
days for the period.
- For U.S. Equities – Off-Exchange, "net capture per 100 touched
shares" refers to transaction fees less OMS/EMS costs and clearing
costs divided by the product of one-hundredth ADV of touched shares
on BIDS Trading and the number of trading days for the period.
- For Canadian Equities, "net capture per 10,000 touched shares"
refers to transaction fees divided by the product of one-ten
thousandth ADV of shares for MATCHNow and the number of trading
days for the period and includes revenue from NEO (now operating as
Cboe Canada).
- For European Equities, "net capture per matched notional value"
refers to transaction fees less liquidity payments in British
pounds divided by the product of ADNV in British pounds of shares
matched on Cboe Europe Equities and the number of trading
days.
- For Australian Equities, "net capture per matched notional
value" refers to transaction fees less trading fee relief in
Australian Dollars divided by the product of ADNV in Australian
Dollars of shares matched on Cboe Australia and the number of
trading days.
- For Japanese Equities, "net capture per matched notional value"
refers to transaction fees less liquidity payments in Japanese Yen
divided by the product of ADNV in Japanese Yen of shares matched on
Cboe Japan and the number of trading days.
- For Global FX, "net capture per one
million dollars traded" refers to transaction fees less
liquidity payments, if any, divided by the Spot and SEF products of
one-thousandth of ADNV traded on the Cboe FX Markets and the number
of trading days, divided by two, which represents the buyer and
seller that are both charged on the transaction.
- For Cboe Clear Europe, "Fee per Trade Cleared" refers to
clearing fees divided by number of non-interoperable trades cleared
and "Net Fee per Settlement" refers to settlement fees less direct
costs incurred to settle divided by the number of settlements
executed after netting.
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, FX, and digital assets, 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 about the Exchange for
the World Stage, 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
|
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SOURCE Cboe Global Markets, Inc.