Cboe Global Markets Reports Trading Volume for May 2025
- Strong growth in multiply-listed options with 27.6% YoY increase
- Significant surge in U.S. equities off-exchange volume, up 62% YoY
- European equities trading volume increased 40.2% YoY
- Cboe Clear Europe cleared trades grew 27.4% YoY
- Futures contracts volume declined 22.5% YoY
- Japanese equities trading volume decreased 32.4% YoY
- Month-over-month decline in several segments, including -46.4% in futures
- Canadian equities trading volume dropped 3.6% YoY
Insights
Cboe reports mixed May 2025 trading volumes with strong year-over-year growth in most segments despite month-over-month declines.
Cboe Global Markets' May 2025 trading statistics reveal significant year-over-year growth across most business segments, despite month-over-month declines from April 2025. Multiply-listed options volumes grew
European equities trading demonstrated the most impressive year-over-year growth at
The divergence between strong year-over-year metrics and weaker sequential performance suggests increasing market volatility. While the broader trend remains positive as evidenced by year-to-date growth across most segments, the month-over-month declines in high-margin businesses like index options (down
The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of certain May 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 | |||||||
May 2025 | May 2024 | % Chg | Apr | % | May 2025 | May 2024 | % | |
Multiply-listed options (contracts, k) | 12,711 | 9,962 | 27.6 % | 13,260 | -4.1 % | 13,236 | 10,471 | 26.4 % |
Index options (contracts, k) | 4,330 | 3,776 | 14.7 % | 5,087 | -14.9 % | 4,745 | 4,077 | 16.4 % |
Futures (contracts, k) | 166 | 214 | -22.5 % | 309 | -46.4 % | 244 | 237 | 2.9 % |
1,861 | 1,424 | 30.7 % | 2,118 | -12.2 % | 1,785 | 1,450 | 23.1 % | |
128 | 79 | 62.0 % | 125 | 2.3 % | 105 | 79 | 33.0 % | |
Canadian Equities (matched shares, k) | 135,088 | 140,175 | -3.6 % | 170,517 | -20.8 % | 156,851 | 147,283 | 6.5 % |
European Equities (€, mn) | 12,106 | 8,634 | 40.2 % | 17,410 | -30.5 % | 14,144 | 9,757 | 45.0 % |
Cboe Clear Europe Cleared Trades (k) | 123,100 | 96,641 | 27.4 % | 167,213 | -26.4 % | 702,385 | 498,335 | 40.9 % |
Cboe Clear Europe Net Settlements (k) | 1,100 | 953 | 15.4 % | 1,099 | 0.1 % | 5,400 | 4,414 | 22.3 % |
Australian Equities (AUD, mn) | 879 | 737 | 19.3 % | 1,047 | -16.0 % | 875 | 758 | 15.4 % |
Japanese Equities (JPY, bn) | 225 | 333 | -32.4 % | 239 | -5.9 % | 286 | 320 | -10.6 % |
Global FX ($, mn) | 51,047 | 43,351 | 17.8 % | 65,340 | -21.9 % | 54,503 | 46,075 | 18.3 % |
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
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SOURCE Cboe Global Markets, Inc.