Cboe Global Markets Reports Trading Volume for December and Full Year 2024
Cboe Global Markets has reported its December and full year 2024 trading statistics, marking significant achievements across its global operations. The company achieved its fifth consecutive record-breaking year in U.S. Options, with total volume reaching 3.8 billion contracts and an ADV of 14.95 million contracts.
Notable highlights include record performances in proprietary index options, with total trading of 1.03 billion contracts and an ADV of 4.1 million contracts. The S&P 500 Index (SPX) options traded 784.2 million contracts, while VIX options reached 209.2 million contracts. In Q4, zero days to expiry trading in SPX set a quarterly record, comprising 51% of overall SPX volumes.
Global FX operations achieved a record full year spot average daily notional volume of $45.4 billion, surpassing the previous year's record of $43.6 billion.
Cboe Global Markets ha comunicato le sue statistiche di trading di dicembre e dell'intero anno 2024, segnando traguardi significativi nelle sue operazioni globali. L'azienda ha raggiunto il suo quinto anno consecutivo di record nelle opzioni statunitensi, con un volume totale che ha raggiunto 3,8 miliardi di contratti e un ADV di 14,95 milioni di contratti.
Tra i punti salienti, si segnalano prestazioni straordinarie nelle opzioni su indici proprietari, con un trading totale di 1,03 miliardi di contratti e un ADV di 4,1 milioni di contratti. Le opzioni S&P 500 Index (SPX) hanno visto il trading di 784,2 milioni di contratti, mentre le opzioni VIX hanno raggiunto 209,2 milioni di contratti. Nel Q4, il trading di opzioni con zero giorni alla scadenza per SPX ha stabilito un record trimestrale, costituendo il 51% dei volumi totali di SPX.
Le operazioni di FX globale hanno raggiunto un volume medio giornaliero notionale spot di $45,4 miliardi per l'intero anno, superando il record dell'anno precedente di $43,6 miliardi.
Cboe Global Markets ha reportado sus estadísticas de trading de diciembre y del año completo 2024, marcando logros significativos en sus operaciones globales. La compañía logró su quinto año consecutivo de récord en opciones de EE. UU., con un volumen total que alcanzó 3,8 mil millones de contratos y un ADV de 14,95 millones de contratos.
Los aspectos destacados incluyen un rendimiento récord en opciones de índices propios, con un total de 1,03 mil millones de contratos negociados y un ADV de 4,1 millones de contratos. Las opciones del Índice S&P 500 (SPX) negociaron 784,2 millones de contratos, mientras que las opciones VIX alcanzaron 209,2 millones de contratos. En el cuarto trimestre, el trading de cero días para la expiración en SPX estableció un récord trimestral, representando el 51% del volumen total de SPX.
Las operaciones de FX global lograron un récord de volumen promedio diario nocional en el mercado spot de $45,4 mil millones, superando el récord del año anterior de $43,6 mil millones.
Cboe Global Markets는 2024년 12월과 연간 거래 통계를 발표하며 전 세계 운영에서 significant 성과를 기록했습니다. 이 회사는 미국 옵션에서 다섯 번째 연속 기록 경신을 달성했으며, 총 거래량은 38억 계약에 이르고 ADV는 1,495만 계약입니다.
주요 하이라이트는 독점 지수 옵션에서의 기록적인 성과로, 총 거래량은 10억 3천만 계약에 ADV는 410만 계약입니다. S&P 500 지수(SPX) 옵션은 7억 8천420만 계약이 거래되었고, VIX 옵션은 2억 9천920만 계약에 도달했습니다. 4분기에는 SPX의 만료일까지 0일 거래가 분기 기록을 세우며 전체 SPX 거래량의 51%를 차지했습니다.
글로벌 FX 운영은 연간 평균 일일 명목 스팟 거래량이 454억 달러로, 지난해 기록인 436억 달러를 초과했습니다.
Cboe Global Markets a publié ses statistiques de trading de décembre et de l'année complète 2024, marquant des réalisations significatives dans ses opérations mondiales. L'entreprise a atteint sa cinquième année consécutive de records sur les options américaines, avec un volume total atteignant 3,8 milliards de contrats et un ADV de 14,95 millions de contrats.
Les points forts notables incluent des performances record dans les options d'index propriétaires, avec un trading total de 1,03 milliard de contrats et un ADV de 4,1 millions de contrats. Les options de l'indice S&P 500 (SPX) ont été échangées pour 784,2 millions de contrats, tandis que les options VIX ont atteint 209,2 millions de contrats. Au quatrième trimestre, le trading à zéro jour d'expiration sur SPX a établi un record trimestriel, représentant 51 % du volume total de SPX.
Les opérations de FX mondial ont atteint un volume moyen quotidien notionnel spot record de 45,4 milliards de dollars, dépassant le record de l'année précédente de 43,6 milliards de dollars.
Cboe Global Markets hat seine Handelsstatistik für Dezember und das gesamte Jahr 2024 veröffentlicht und dabei bedeutende Erfolge in seinen globalen Aktivitäten verzeichnet. Das Unternehmen erzielte sein fünftes aufeinanderfolgendes Rekordjahr im Bereich US-Optionen, mit einem Gesamtvolumen von 3,8 Milliarden Verträgen und einem ADV von 14,95 Millionen Verträgen.
Besondere Highlights sind Rekordzahlen bei proprietären Indexoptionen mit einem Gesamt-Handelsvolumen von 1,03 Milliarden Verträgen und einem ADV von 4,1 Millionen Verträgen. Die Optionen des S&P 500 Index (SPX) wurden mit 784,2 Millionen Verträgen gehandelt, während die VIX-Optionen 209,2 Millionen Verträge erreichten. Im vierten Quartal setzte der Handel mit Null Tagen bis zum Ablauf bei SPX einen Vierteljahresrekord, der 51% des Gesamtvolumens von SPX ausmachte.
Die globalen FX Betriebe erreichten ein Rekord-Jahresdurchschnittsvolumen von 45,4 Milliarden Dollar, das den Rekord des Vorjahres von 43,6 Milliarden Dollar übertraf.
- Fifth consecutive record-breaking year in U.S. Options with 3.8 billion contracts
- Proprietary index options reached 1.03 billion contracts
- Record Global FX spot ADNV of $45.4 billion, up from $43.6 billion
- SPX options trading volume reached 784.2 million contracts
- VIX options trading volume achieved 209.2 million contracts
- U.S. Equities On-Exchange volume declined 8.4% year-over-year in December
- Global FX volume decreased 5.4% compared to December 2023
- European Equities trading dropped 17.5% from November 2024
Insights
The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of certain December and full year 2024 trading statistics and market share by business segment, volume in select index products, and RPC/net capture, which is reported on a one-month lag, across business lines.
Average Daily Trading Volume (ADV) by Month | Year-To-Date | |||||||
Dec 2024 | Dec 2023 | % Chg | Nov | % | Dec 2024 | Dec 2023 | % | |
Multiply-listed options (contracts, k) | 11,864 | 10,472 | 13.3 % | 12,355 | -4.0 % | 10,853 | 10,814 | 0.4 % |
Index options (contracts, k) | 4,014 | 3,984 | 0.8 % | 4,141 | -3.0 % | 4,094 | 3,800 | 7.7 % |
Futures (contracts, k) | 213 | 201 | 6.0 % | 222 | -3.8 % | 239 | 223 | 6.9 % |
1,515 | 1,654 | -8.4 % | 1,601 | -5.4 % | 1,392 | 1,413 | -1.4 % | |
| 70 | 71 | -1.9 % | 94 | -25.7 % | 79 | 79 | -0.6 % |
Canadian Equities (matched shares, k) | 154,344 | 151,854 | 1.6 % | 159,068 | -3.0 % | 147,576 | 136,110 | 8.4 % |
European Equities (€, mn) | 9,291 | 8,816 | 5.4 % | 11,262 | -17.5 % | 9,780 | 9,398 | 4.1 % |
Cboe Clear Europe Cleared Trades2 (k) | 96,747 | 83,648 | 15.7 % | 114,701 | -15.7 % | 1,229,203 | 1,172,028 | 4.9 % |
Cboe Clear Europe Net Settlements2 (k) | 926 | 770 | 20.2 % | 995 | -6.9 % | 11,199 | 10,045 | 11.5 % |
Australian Equities (AUD, mn) | 772 | 777 | -0.7 % | 822 | -6.1 % | 790 | 704 | 12.2 % |
Japanese Equities (JPY, bn) | 250 | 192 | 30.0 % | 251 | -0.5 % | 304 | 177 | 72.3 % |
Global FX ($, mn) | 43,122 | 45,600 | -5.4 % | 49,565 | -13.0 % | 46,731 | 44,706 | 4.5 % |
1 U.S. Equities – Off-Exchange ATS Block metrics restated to incorporate a tier of sell-side activity from July 2023 and forward, previously excluded from reporting. |
2 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. |
December and Full Year 2024 Trading Volume Highlights
- Total volume across Cboe's four options exchanges was 3.8 billion contracts in 2024, with an ADV of 14.95 million contracts traded, the fifth consecutive record-breaking year.
- Cboe's proprietary product suite set several volume records for the year, including:
- Overall proprietary index options product suite traded a total of 1.03 billion contracts, with an ADV of 4.1 million contracts
- S&P 500 Index (SPX) options traded a total of 784.2 million contracts, with an ADV of 3.1 million contracts
- Cboe Volatility Index (VIX) options traded a total of 209.2 million contracts, with an ADV of 830 thousand contracts
- XSP (Mini-SPX) options traded a total of 17.6 million contracts, with an ADV of 69 thousand contracts
- In the fourth quarter, zero days to expiry trading in SPX comprised of
51% of overall SPX volumes, a quarterly record.
Global FX
- Global FX reported a record full year spot average daily notional volume (ADNV) of
$45.4 billion $43.6 billion
Fourth-Quarter 2024 RPC/Net Revenue Capture Guidance
The projected RPC/net capture metrics for the fourth quarter of 2024 are estimated, preliminary and may change. There can be no assurance that our final RPC for the three months ended December 31, 2024, will not differ materially from these projections.
(In USD unless stated otherwise) | Three-Months Ended | |||
Product: | 4Q Projection | Nov-24 | Oct-24 | Sept-24 |
Multiply-Listed Options (per contract) | ||||
Index Options | ||||
Total Options | ||||
Futures (per contract) | ||||
Canadian Equities (per 10,000 touched shares) | ||||
European Equities (per matched notional value) | 0.260 | 0.260 | 0.257 | 0.257 |
Australian Equities (per matched notional value) | 0.153 | 0.156 | 0.155 | 0.156 |
Japanese Equities (per matched notional value) | 0.234 | 0.228 | 0.219 | 0.221 |
Global FX (per | ||||
Cboe Clear Europe Fee per Trade Cleared | ||||
Cboe Clear Europe Net Fee per Settlement | ||||
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 Cboe Canada and the number of trading days for the period and includes revenue.
- 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 and FX across
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.
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