Cboe Global Markets Reports April 2021 Trading Volume

Rhea-AI Summary

Cboe Global Markets reported its April trading volume statistics, highlighting a 6.8% year-over-year increase in total options volume, reaching 214,473 contracts. The average daily volume (ADV) for index options rose by 12%, while VIX options ADV surged 52%. Futures volume saw significant growth, with a 78.3% increase in total ADV. However, U.S. equities matched volume decreased by 27.8%. Notable gains were observed in European equities, with a market share increase to 17.9%. Overall, Cboe's diverse trading platforms showcased resilience amid mixed trading conditions.

Positive

• Options volume increased by 6.8% year-over-year.
• ADV for index options rose 12% compared to April 2020.
• VIX options ADV increased by 52% year-over-year.
• Futures ADV for VIX increased by 68% from April 2020.
• Cboe's European equities market share increased to 17.9%, the highest since July 2020.

Negative

• U.S. equities matched volume decreased by 27.8% year-over-year.
• Total U.S. equities ADV decreased by 27.8% compared to last year.
• Canadian equities matched volume fell by 26.5% compared to the previous year.

CHICAGO, May 5, 2021 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a market operator and global trading solutions provider, today reported April monthly trading volume statistics across its global business lines.

The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of certain April 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.

Trading Volume for Current Month						Year-To-Date
	April	April	%	March	%			%
	2021	2020	Chg	2021	Chg	2021	2020	Chg
OPTIONS VOLUME (contracts, thousands)						Year-To-Date
Trading Days	21	21		23		82	83
Total Volume	214,473	200,828	6.8%	266,298	-19.5%	987,996	866,171	14.1%
Total ADV	10,213	9,563	6.8%	11,578	-11.8%	12,049	10,436	15.5%
FUTURES VOLUME (contracts, thousands)						Year-To-Date
Trading Days	21	21		23		82	83
Total Volume	4,178	2,343	78.3%	5,333	-21.7%	19,790	22,857	-13.4%
Total ADV	199	112	78.3%	232	-14.2%	241	275	-12.4%
U.S. EQUITIES – EXCHANGE MATCHED VOLUME (shares, millions)						Year-To-Date
Trading Days	21	21		23		82	83
Total Volume	30,779	42,619	-27.8%	47,101	-34.7%	165,027	156,424	5.5%
Total ADV	1,466	2,029	-27.8%	2,048	-28.4%	2,013	1,885	6.8%
U.S. EQUITIES – OFF-EXCHANGE MATCHED VOLUME (shares, millions)1						Year-To-Date
Trading Days	21	21		23		82	83
Total Volume	1,480	N/A		2,061	-28.2%	7,552	N/A
Total ADV	70	N/A		90	-21.4%	92	N/A
CANADIAN EQUITIES MATCHED VOLUME (shares, thousands)2						Year-To-Date
Trading Days	21	N/A		23		83	N/A
Total Volume	1,081,784	N/A		1,472,785	-26.5%	5,506,059	N/A
Total ADV	51,514	N/A		64,034	-19.6%	66,338	N/A
EUROPEAN EQUITIES (€ millions)						Year-To-Date
Trading Days	20	20		23		83	84
Total Notional Value	€ 153,872	€ 123,459	24.6%	€ 189,240	-18.7%	€ 627,175	€ 705,349	-11.1%
Total ADNV	€ 7,694	€ 6,173	24.6%	€ 8,228	-6.5%	€ 7,556	€ 8,397	-10.0%
EUROCCP (thousands)3						Year-To-Date
Cleared Trades	96,909	N/A		116,942	-17.1%	395,132	N/A
Net Settlements	771	N/A		912	-15.4%	3,194	N/A
GLOBAL FX ($ millions)4						Year-To-Date
Trading Days	22	22		23		85	86
Total Notional Value	$681,941	$643,629	6.0%	$884,637	-22.9%	$3,017,620	$3,417,348	-11.7%
Total ADNV	30,997	29,256	6.0%	38,462	-19.4%	35,501	39,737	-10.7%

1U.S. Equities Off-Exchange data reflects Cboe's acquisition of BIDS Trading effective on December 31, 2020.	ADV= average daily volume
2Canadian Equities data reflects Cboe's acquisition of MATCHNow effective on August 4, 2020.	ADNV= average daily notional value
3EuroCCP data reflects Cboe's acquisition of EuroCCP effective on July 1, 2020.
4Global FX metrics continue to include Spot and as of January 2021 include SEF products.

April Trading Volume Highlights

Options

• Average daily volume (ADV) for index options of 1.75 million increased 12 percent compared to 1.57 million in April 2020.
• ADV in Cboe Volatility Index® (VIX®) options was 506,021 contracts, up 52 percent from April 2020.
• ADV in Mini S&P 500® Index (XSP) options was 23,118 contracts, up 34 percent from March 2021.

Futures

• ADV in VIX futures was 186,653 contracts, up 68 percent from April 2020.
• ADV in Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index (IBHY) futures was 1,244 contracts, up 15 percent from March 2021. April 2021 volume in IBHY futures represented more than $3.8 billion in notional value.
• ADV in Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond Index (IBIG) futures reached a new high of 770 contracts traded, up 31 percent from March 2021, representing more than $2.3 billion in notional value.

North American Equities

• After successfully launching Early Trading Hours on Cboe EDGX Equities Exchange in March, Cboe's market share in the 4:00 to 7:00 a.m. ET session increased from 8.7 percent to 10.5 percent in April 2021.

European Equities

• Cboe Europe Equities market share was 17.9 percent in April 2021, up from 15.4 percent in April 2020 and the highest since July 2020.
• Cboe's market share in Swiss securities increased from 11.4 to 13.4 percent in April and its average daily notional value (ADNV) increased from €560 million to €609 million over March 2021.
• In April, Cboe LIS, Cboe Europe's block trading platform, matched its previous record high market share of 25 percent¹ from February 2021.

Global FX

• Cboe SEF NDF trading saw its highest monthly ADV with $209 million notional traded, up 5.7 percent from February 2021.

1Source: big xyt, an independent data and analytics firm.

About Cboe Global Markets, Inc.

Cboe Global Markets (Cboe: CBOE) provides cutting-edge trading and investment solutions to market participants around the world. The company is committed to defining markets through product innovation, leading edge technology and seamless trading solutions.

The company offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S., Canadian and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and volatility products based on the Cboe Volatility Index (VIX Index), recognized as the world's premier gauge of U.S. equity market volatility.

Cboe's subsidiaries include the largest options exchange and the third largest stock exchange operator in the U.S. In addition, the company operates one of the largest stock exchanges by value traded in Europe, and owns EuroCCP, a leading pan-European equities clearing house. Cboe also is a leading market globally for ETP listings and trading.    

The company is headquartered in Chicago with a network of domestic and global offices across the Americas, Europe and Asia, including main hubs in New York, London, Kansas City and Amsterdam. For more information, visit www.cboe.com.  

Media Contacts			Analyst Contact
Angela Tu	Tim Cave		Debbie Koopman
+1-646-856-8734	+44 (0) 7593-506-719		+1-312-786-7136
atu@cboe.com	tcave@cboe.com		dkoopman@cboe.com

CBOE-V

BZX®, Cboe®, Cboe Global Markets®, Cboe Volatility Index®, CFE®, EDGX®, VIX®, and XSP are registered trademarks and Cboe Futures Exchange^SM, C2^SM and Mini VIX^SM are service marks of Cboe Exchange, Inc. or its affiliates. S&P 500® and SPX® are registered trademarks of Standard & Poor's Financial Services, LLC and has been licensed for use by Cboe Exchange, Inc.  All other trademarks and service marks are the property of their respective owners.

Any products that have the S&P Index or Indexes as their underlying interest are not sponsored, endorsed, sold or promoted by Standard & Poor's or Cboe and neither Standard & Poor's nor Cboe make any representations or recommendations concerning the advisability of investing in products that have S&P indexes as their underlying interests. All other trademarks and service marks are the property of their respective owners.

Cboe Global Markets, Inc.  and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with MSCI, S&P, Russell, iShares^® or IHS Markit. Investors should undertake their own due diligence regarding their securities, futures, and investment practices.  This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.

Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction.  Nothing contained in this communication constitutes tax, legal or investment advice.  Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.

Cboe Global Markets, Inc.  and  its  affiliates make  no  warranty,  expressed  or  implied,  including,  without  limitation,  any  warranties  as  of  merchantability,  fitness  for  a particular  purpose,  accuracy,  completeness  or  timeliness,  the  results to  be  obtained  by  recipients  of  the  products  and  services  described  herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.

Options involve risk and are not suitable for all market participants. Prior to buying or selling an option, a person should review the  Characteristics and Risks of Standardized Options (ODD), which is required to be provided to all such persons.  Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606. 

Futures trading is not suitable for all investors and involves the risk of loss. That risk of loss can be substantial and can exceed the amount of money deposited for a futures position. You should, therefore, carefully consider whether futures trading is suitable for you in light of your circumstances and financial resources. You should put at risk only funds that you can afford to lose without affecting your lifestyle. For additional information regarding futures trading risks, see the Risk Disclosure Statement set forth in Appendix A to CFTC Regulation 1.55(c) and the Risk Disclosure Statement for Security Futures Contracts.

The iBoxx® iShares® $ High Yield Corporate Bond Index and the iBoxx® iShares® $ Investment Grade Corporate Bond Index (the "Indexes") referenced herein are the property of Markit Indices Limited ("Index Sponsor") and have been licensed for use in connection with Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index Futures and Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond Index Futures. Each party to a Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index Futures or Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond Index Futures transaction acknowledges and agrees that the transaction is not sponsored, endorsed or promoted by the Index Sponsor. The Index Sponsor makes no representation whatsoever, whether express or implied, and hereby expressly disclaims all warranties (including, without limitation, those of merchantability or fitness for a particular purpose or use), with respect to the Indexes or any data included therein or relating thereto, and in particular disclaims any warranty either as to the quality, accuracy and/or completeness of the Indexes or any data included therein, the results obtained from the use of the Indexes and/or the composition of the Indexes at any particular time on any particular date or otherwise and/or the creditworthiness of any entity, or the likelihood of the occurrence of a credit event or similar event (however defined) with respect to an obligation, in the Indexes at any particular time on any particular date or otherwise. The Index Sponsor shall not be liable (whether in negligence or otherwise) to the parties or any other person for any error in the Indexes, and the Index Sponsor is under no obligation to advise the parties or any person of any error therein.

The Index Sponsor makes no representation whatsoever, whether express or implied, as to the advisability of purchasing or selling Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index Futures and Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond Index Futures, the ability of the Indexes to track relevant markets' performances, or otherwise relating to the Indexes or any transaction or product with respect thereto, or of assuming any risks in connection therewith. The Index Sponsor has no obligation to take the needs of any party into consideration in determining, composing or calculating the Indexes. No party purchasing or selling Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index Futures or Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond Index Futures, nor the Index Sponsor, shall have any liability to any party for any act or failure to act by the Index Sponsor in connection with the determination, adjustment, calculation or maintenance of the Indexes. iBoxx® is a service mark of IHS Markit Limited.

The iBoxx® iShares® $ High Yield Corporate Bond Index and the iBoxx® iShares® $ Investment Grade Corporate Bond Index (the "Indexes") and futures contracts on the Indexes ("Contracts") are not sponsored by, or sold by BlackRock, Inc. or any of its affiliates (collectively, " BlackRock"). BlackRock makes no representation or warranty, express or implied to any person regarding the advisability of investing in securities, generally, or in the Contracts in particular. Nor does BlackRock make any representation or warranty as to the ability of the Index to track the performance of the fixed income securities market, generally, or the performance of HYG, LQD or any subset of fixed income securities.

BlackRock has not calculated, composed or determined the constituents or weightings of the fixed income securities that comprise the Indexes ("Underlying Data"). BlackRock is not responsible for and has not participated in the determination of the prices and amounts of the Contracts, or the timing of the issuance or sale of such Contracts or in the determination or calculation of the equation by which the Contracts are to be converted into cash (if applicable). BlackRock has no obligation or liability in connection with the administration or trading of the Contracts. BlackRock does not guarantee the accuracy or the completeness of the Underlying Data and any data included therein and BlackRock shall have no liability for any errors, omissions or interruptions related thereto.

BlackRock makes no warranty, express or implied, as to results to be obtained by Markit or its affiliates, the parties to the Contracts or any other person with respect to the use of the Underlying Data or any data included therein. BlackRock makes no express or implied warranties and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the Underlying Data or any data included therein. Without limiting any of the foregoing, in no event shall BlackRock have any liability for any special, punitive, direct, indirect or consequential damages (including lost profits) resulting from the use of the Underlying Data or any data included therein, even if notified of the possibility of such damages.

iShares® is a registered trademark of BlackRock Fund Advisors and its affiliates.

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SOURCE Cboe Global Markets, Inc.

FAQ

What are the key trading volume statistics for CBOE in April 2021?

In April 2021, Cboe reported a total options volume of 214,473 contracts, up 6.8% year-over-year, while U.S. equities matched volume dropped 27.8%.

How much did the ADV for VIX options increase in April 2021?

The ADV for VIX options in April 2021 was 506,021 contracts, representing a 52% increase from April 2020.

What was the performance of Cboe's European equities market share in April 2021?

Cboe's European equities market share increased to 17.9% in April 2021, the highest level since July 2020.

Did CBOE see any increase in futures volume?

Yes, Cboe saw a significant increase in futures volume, with a 78.3% rise in total ADV in April 2021.

What was the change in Cboe's U.S. equities volume in April 2021?

Cboe's U.S. equities total volume decreased by 27.8% year-over-year in April 2021.