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Cboe Global Markets Reports Trading Volume for April 2024

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Cboe Global Markets, a leading derivatives and securities exchange network, reported April trading volume statistics. The data includes average daily trading volume, market share by business segment, and volume in select index products. U.S. Options Trading in Cboe Volatility Index (VIX) options hit a record high. Cboe Japan achieved a record market share. Global FX had strong performance with a new record in spot Full Amount ADNV.

Positive
  • U.S. Options Trading in Cboe Volatility Index (VIX) options reached a high not seen since March 2020.

  • Cboe Japan achieved a record market share, marking its second consecutive month with a record share.

  • Global FX reported a new record in spot Full Amount ADNV, showing strong performance.

Negative
  • None.

Insights

The release of Cboe Global Markets' trading volumes for April 2024 offers significant insight into the market dynamics over the period. The increased average daily trading volume in index options by 23.9% year-over-year indicates a rising interest in these derivative products, often used for hedging or speculation. This could suggest an uptick in investor sentiment regarding market volatility or a strategic shift in portfolio management. The 66.2% surge in futures contracts volume year-over-year is also noteworthy, hinting at a heightened focus on commodities, financials, or indices that futures might represent. This could impact related industries by potentially increasing liquidity and volatility. The contrasting 3.3% decrease in U.S. Equities on-exchange and the 12.2% decrease off-exchange year-over-year is indicative of a shift in the equity trading landscape, which might reflect regulatory changes, technological advancements, or evolving trader preferences. These shifts are vital metrics that could sway investor confidence and inform portfolio strategies.

From a market trend perspective, Cboe's record achievements, such as the highest trading in VIX options since March 2020 and Cboe Japan's record market share, highlight strategic growth areas. The VIX is often denoted as the 'fear index', its uptick in trading volume typically reflects investor concerns about future market risk. If this trend continues, it could signal a market sentiment of caution among investors. Additionally, the new record for Global FX Spot Full Amount ADNV accentuates the growing interest in foreign exchange markets, potentially driven by increased volatility in currency values, changes in global trade policies, or shifts in monetary policy. These areas of growth could offer opportunities in currency hedging and diversification strategies for investors.

CHICAGO, May 3, 2024 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, 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.

Average Daily Trading Volume (ADV) by Month

Year-To-Date


 


April 2024

 


April 2023

 


%

Chg

 


March
 2024

 


%  
 Chg

 


April

2024

 


April

2023

 


%  
 Chg

Multiply-listed options (contracts, k)

10,223

9,810

4.2 %

10,570

-3.3 %

10,606

10,768

-1.5 %

Index options (contracts, k)

4,347

3,507

23.9 %

4,057

7.1 %

4,157

3,575

16.3 %

Futures (contracts, k)

309

186

66.2 %

217

42.5 %

244

221

10.2 %

U.S. Equities - On-Exchange (matched shares, mn)

1,310

1,354

-3.3 %

1,464

-10.5 %

1,457

1,467

-0.7 %

U.S. Equities - Off-Exchange (matched shares, mn)

66

75

-12.2 %

75

-11.9 %

74

86

-13.9 %

Canadian Equities (matched shares, k)

157,295

135,428

16.1 %

159,704

-1.5 %

149,145

147,247

1.3 %

European Equities (€, mn)

10,503

10,413

0.9 %

10,248

2.5 %

10,064

11,173

-9.9 %

Cboe Clear Europe Cleared Trades1 (k)

107,680

87,863

22.6 %

96,734

11.3 %

402,005

447,281

-10.1 %

Cboe Clear Europe Net Settlements1 (k)

937

716

30.8 %

828

13.1 %

3,461

3,378

2.5 %

Australian Equities (AUD, mn)

761

708

7.5 %

814

-6.5 %

764

745

2.6 %

Japanese Equities (JPY, bn)

316

166

91.0 %

357

-11.5 %

316

179

76.7 %

Global FX ADNV ($, mn)

51,307

40,599

26.4 %

47,346

8.4 %

46,804

43,959

6.5 %

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.

April 2024 Trading Volume Highlights   

U.S. Options

  • Trading in Cboe Volatility Index (VIX) options was the highest since March 2020, with a monthly ADV of 928 thousand contracts.

Cboe Japan

  • Cboe Japan achieved a monthly lit market share record of 5.4%, its second consecutive month with record market share.

Global FX

  • Global FX reported overall spot ADNV of $50.0 billion, its second-best month behind March 2020.
  • Spot Full Amount ADNV reached a new record of $15.1 billion

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 

CBOE-V

Cboe®, Cboe Global Markets®, Cboe Volatility Index®, and VIX® are registered trademarks of Cboe Exchange, Inc. or its affiliates. Standard & Poor's®, S&P®, SPX®, and S&P 500® are registered trademarks of Standard & Poor's Financial Services, LLC, and have 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 S&P, FTSE Russell, or iBoxx. 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.

There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: https://www.cboe.com/us_disclaimers/. 

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. 

Trading in futures and options on futures is not suitable for all market participants and involves the risk of loss, which can be substantial and can exceed the amount of money deposited for a futures or options on futures position. You should, therefore, carefully consider whether trading in futures and options on futures 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 the risks associated with trading futures and options on futures and with trading security futures, see respectively the Risk Disclosure Statement Referenced in CFTC Letter 16-82 and the Risk Disclosure Statement for Security Futures Contracts. 

 

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SOURCE Cboe Global Markets, Inc.

Cboe Global Markets, Inc.

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