CBOE Holdings (CBOE) Announces 13% MoM Decline in August ADV

September 1, 2016 5:43 PM EDT

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CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that August average daily volume (ADV) for options contracts traded on Chicago Board Options Exchange® (CBOE®) and C2 Options Exchange (C2), and futures contracts traded on CBOE Futures Exchange (CFE®) was 4.1 million contracts, a decrease of 13 percent from July 2016 and 31 percent from August 2015.

New CBOE Holdings Monthly Trading Volume Report and RPC Format

Beginning in October, on the second business day of each month, CBOE Holdings plans to issue a press release to give notice when new monthly trading volume and average revenue per contract (RPC) data is updated and available on the CBOE website. Going forward, each notice and the posting of data on the website will replace monthly trading volume report press releases. The complete volume and RPC statistics will be available under the Quotes & Data section of www.cboe.com.

Business Developments: August

  • On August 15, CBOE listed for trading S&P 500® Index (SPX) Monday-expiring WeeklysSM options, which have had an ADV of 32,604 contracts through the end of August, press release.
  • CBOE will host its 5th annual CBOE Risk Management Conference Europe in County Wicklow, Ireland, from September 26 through September 28, press release.
  • On August 17, CFE announced it received approval from the Monetary Authority of Singapore (MAS) to be a Registered Market Operator (RMO) in Singapore. With this designation, CFE can allow professional investors, accredited investors and expert investors, as defined under Singaporean law, to become CFE Trading Privilege Holders (TPHs) and access CFE's market directly, press release.
  • On August 15, CBOE announced the launch of the CBOE-SMA Large Cap Index (SMLC Index), the first of a series of sentiment-based strategy benchmark indexes that measure short-term market momentum based on Social Market Analytics' (SMA) social media metrics, press release.

CBOE Holdings Trading Volume Tables: August

CBOE Holdings Consolidated Trading Volume Current Month

Year-To-Date

(contracts in thousands)

August 2016

August 2015

% Chg

July 2016

% Chg

August 2016

August 2015

% Chg

Trading Days

23

21

20

168

167

Total Contracts (options & futures)

94,439.1

125,243.6

-25%

94,405.3

---

771,316.1

798,298.3

-3%

Total Options Contracts (CBOE & C2)

89,672.4

118,834.7

-25%

89,929.6

---

732,349.3

763,915.0

-4%

Total Futures Contracts (CFE)

4,766.7

6,408.9

-26%

4,475.7

7%

38,967.1

34,383.3

13%

Total ADV (options & futures)

4,106.0

5,964.0

-31%

4,720.3

-13%

4,591.1

4,780.2

-4%

Total Options ADV (CBOE & C2)

3,898.8

5,658.8

-31%

4,496.5

-13%

4,359.2

4,574.3

-5%

Total Futures ADV (CFE)

207.2

305.2

-32%

223.8

-7%

231.9

205.9

13%

CBOE Trading Volume Current Month*

Year-To-Date

(contracts in thousands)

August 2016

August 2015

% Chg

July 2016

% Chg

August 2016

August 2015

% Chg

Trading Days

23

21

20

168

167

Total Exchange

82,766.6

111,068.7

-25%

83,332.4

-1%

680,174.1

708,649.2

-4%

Total Exchange ADV

3,598.5

5,289.0

-32%

4,166.6

-14%

4,048.7

4,243.4

-5%

Equity Options

30,030.8

31,160.2

-4%

27,893.2

8%

223,555.6

257,409.7

-13%

Equity Options ADV

1,305.7

1,483.8

-12%

1,394.7

-6%

1,330.7

1,541.4

-14%

Index Options

33,106.8

51,735.4

-36%

33,763.5

-2%

284,124.3

265,896.8

7%

Index Options ADV

1,439.4

2,463.6

-42%

1,688.2

-15%

1,691.2

1,592.2

6%

ETP Options

19,629.0

28,173.1

-30%

21,675.7

-9%

172,494.2

185,342.7

-7%

ETP Options ADV

853.4

1,341.6

-36%

1,083.8

-21%

1,026.8

1,109.8

-7%

*Expanded volume information for CBOE index and ETP options is available at: www.cboe.com/data/monthlyvolume.aspx.

C2 Trading Volume Current Month

Year-To-Date

(contracts in thousands)

August2016

August 2015

% Chg

July 2016

% Chg

August 2016

August 2015

% Chg

Trading Days

23

21

20

168

167

Total Exchange

6,905.9

7,766.0

-11%

6,597.2

5%

52,175.2

55,265.8

-6%

Total Exchange ADV

300.3

369.8

-19%

329.9

-9%

310.6

330.9

-6%

Equity Options

1,945.5

2,326.7

-16%

1,865.3

4%

13,798.2

16,460.2

-16%

Equity Options ADV

84.6

110.8

-24%

93.3

-9%

82.1

98.6

-17%

Index Options

158.9

208.1

-24%

157.5

1%

1,778.8

1,006.9

77%

Index Options ADV

6.9

9.9

-30%

7.9

-12%

10.6

6.0

76%

ETP Options

4,801.5

5,231.1

-8%

4,574.4

5%

36,598.2

37,798.7

-3%

ETP Options ADV

208.8

249.1

-16%

228.7

-9%

217.8

226.3

-4%

CFE Trading Volume Current Month*

Year-To-Date

August 2016

August 2015

% Chg

July 2016

% Chg

August 2016

August 2015

% Chg

Trading Days

23

21

20

168

167

VIX Index Futures

Total

4,766,281

6,404,254

-26%

4,475,340

7%

38,962,323

34,366,015

13%

ADV

207,230

304,964

-32%

223,767

-7%

231,919

205,785

13%

CFE Total Exchange

Total

4,766,703

6,408,878

-26%

4,475,738

7%

38,967,139

34,383,333

13%

ADV

207,248

305,185

-32%

223,787

-7%

231,947

205,888

13%

*Volume numbers for 2015 and 2016 now include VIX Weeklys futures totals.

CBOE Holdings Market Share Current Month (% of total U.S. options industry volume)

Year-To-Date

August 2016

August 2015

% Pt. Chg

July 2016

% Pt. Chg

August 2016

August 2015

% Pt. Chg

Total Exchange (CBOE & C2)

27.7%

27.9%

-0.2%

29.1%

-1.4%

27.3%

27.6%

-0.3%

CBOE

25.6%

26.1%

-0.5%

27.0%

-1.4%

25.3%

25.6%

-0.3%

C2

2.1%

1.8%

0.3%

2.1%

---

1.9%

2.0%

-0.1%

Total Equity Options (CBOE & C2)

19.1%

16.7%

2.4%

19.5%

-0.4%

18.1%

18.5%

-0.4%

Total Index Options (CBOE & C2)

99.1%

98.5%

0.6%

99.4%

-0.3%

99.2%

98.0%

1.2%

Total ETF Options (CBOE & C2)

20.1%

19.3%

0.8%

21.5%

-1.4%

19.2%

22.1%

-2.9%

CBOE Holdings Average Revenue Per ContractThe following represents average revenue per contract (RPC) based on a three-month rolling average, reported on a one-month lag. The average RPC represents total transaction fees for CBOE, C2 and CFE recognized for the period divided by total contracts traded during the period. 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.

(In Dollars)

Three-Month Period Ended

Product:

July 2016

June 2016

May 2016

April 2016

Equity Options

$0.063

$0.070

$0.075

$0.081

Index Options

$0.704

$0.701

$0.698

$0.706

ETP Options

$0.096

$0.103

$0.104

$0.111

Total Options Average Revenue Per Contract

$0.326

$0.328

$0.326

$0.335

Futures

$1.677

$1.682

$1.721

$1.697

Total Average Revenue Per Contract

$0.401

$0.405

$0.394

$0.397



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