Cboe Global Markets Reports Trading Volume for February 2024
- Positive: Significant growth in index options trading volumes by 19.5% compared to the previous year.
- Positive: Japanese equities trading volume surged by 63.3% year-over-year, indicating a strong market presence.
- Negative: Decline in European equities trading volume by 10.3% compared to the prior year, signaling potential challenges in that market.
- Negative: Canadian equities trading volume dropped by 8.8% year-over-year, reflecting a decrease in market activity.
- None.
Insights
The reported trading volume statistics from Cboe Global Markets offer a snapshot of market activity and liquidity across various asset classes. The notable increase in Index options by 16.8% and Japanese Equities by 62.5% year-over-year indicates a shift in investor sentiment or strategy towards these particular segments. This could be attributed to a range of factors, including market volatility, shifts in monetary policy, or geopolitical events influencing these markets.
On the other hand, the decrease in Canadian Equities and European Equities by 8.8% and 12.5%, respectively, raises questions about the underlying causes, such as changes in the economic outlook or investor preference for other markets. The Global FX ADNV showed a moderate increase, suggesting steady interest in currency trading, possibly due to ongoing currency fluctuations driven by international trade tensions or policy changes.
The RPC/net revenue capture reported on a one-month lag is a critical metric for assessing the exchange's profitability. Changes in RPC can significantly impact the exchange's financial performance, as it reflects the average revenue per contract or trade. A higher RPC indicates greater revenue efficiency, which could translate into improved earnings. Investors would be keen on this metric to gauge the company's operational efficiency and potential impact on future earnings.
Furthermore, the shift in Average Daily Trading Volume (ADV) across different asset classes could signal changing risk appetites among investors and may affect the exchange's transaction-based revenues. The 7.1% increase in U.S. Equities - On-Exchange volume suggests a possible uptrend in retail or institutional participation in the equity markets, which could enhance liquidity and potentially attract more listings and trading activity to Cboe's platforms.
These trading statistics can be seen as a barometer for economic activity and investor confidence. For example, the substantial growth in Japanese Equities may reflect optimism about Japan's economic prospects or a favorable exchange rate movement that has attracted foreign investment. Conversely, the decline in European Equities could indicate economic uncertainty in the region, potentially stemming from factors like Brexit or regulatory changes affecting market dynamics.
Moreover, the data on Cboe Clear Europe Cleared Trades and Net Settlements provides insights into the clearing and settlement landscape in Europe, which is critical for understanding the robustness of the post-trade environment. The figures might also reflect the impact of regulatory frameworks like MiFID II on European trading activity.
The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of certain February 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 | |||||||
Feb | Feb | % Chg | Jan | % | Feb 2024 | Feb 2023 | % | |
Multiply-listed options (contracts, k) | 11,114 | 11,219 | -0.9 % | 10,559 | 5.3 % | 10,829 | 11,219 | -3.5 % |
Index options (contracts, k) | 4,090 | 3,502 | 16.8 % | 4,118 | -0.7 % | 4,104 | 3,435 | 19.5 % |
Futures (contracts, k) | 213 | 227 | -6.1 % | 229 | -7.0 % | 221 | 210 | 5.4 % |
1,528 | 1,427 | 7.1 % | 1,537 | -0.6 % | 1,532 | 1,426 | 7.5 % | |
86 | 87 | -1.6 % | 71 | 21.4 % | 78 | 90 | -12.7 % | |
Canadian Equities (matched shares, k) | 143,922 | 157,861 | -8.8 % | 136,143 | 5.7 % | 139,847 | 153,370 | -8.8 % |
European Equities (€, mn) | 10,093 | 11,531 | -12.5 % | 9,450 | 6.8 % | 9,765 | 10,881 | -10.3 % |
Cboe Clear Europe Cleared Trades (k) | 98,689 | 113,022 | -12.7 % | 98,903 | -0.2 % | 197,592 | 226,201 | -12.6 % |
Cboe Clear Europe Net Settlements (k) | 825 | 827 | -0.2 % | 871 | -5.3 % | 1,697 | 1,692 | 0.3 % |
Australian Equities (AUD, mn) | 809 | 785 | 3.1 % | 674 | 20.0 % | 742 | 726 | 2.2 % |
Japanese Equities (JPY, bn) | 316 | 194 | 62.5 % | 272 | 16.0 % | 294 | 180 | 63.3 % |
Global FX ADNV ($, mn) | 43,628 | 42,991 | 1.5 % | 44,815 | -2.6 % | 44,236 | 42,491 | 4.1 % |
1 Canadian Equities data includes MATCHNow and NEO (now operating as Cboe Canada). |
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. |
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
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FAQ
What was the percentage change in index options trading volume compared to the previous year for Cboe (CBOE)?
How did Japanese equities trading volume change year-over-year for Cboe (CBOE)?
What was the change in Canadian equities trading volume year-over-year for Cboe (CBOE)?
What was the change in European equities trading volume year-over-year for Cboe (CBOE)?
