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SOURCE CBOE Holdings, Inc.
In the news release, "CBOE Holdings Reports March 2013 Trading Volume," issued 01-Apr-2013 by CBOE Holdings, Inc. over PR Newswire, we are advised by the company that the first table, "CBOE Holdings Consolidated Trading Volume," which was originally included, has been replaced by a corrected table. The original table should be disregarded. The complete, corrected release follows:
CHICAGO, April 1, 2013 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that March trading volume for options contracts on Chicago Board Options Exchange®, Incorporated (CBOE®) and C2 Options Exchange (C2SM) and futures contracts on CBOE Futures Exchange, LLC (CFE®) totaled 89.81 million contracts. Average daily volume (ADV) in March was 4.49 million contracts, up three percent from 4.38 million contracts in February 2013 and down nine percent from 4.93 million contracts in March 2012.
(Logo: http://photos.prnewswire.com/prnh/20121022/MM97794LOGO-a)
In March, CBOE Volatility Index® (VIX® Index) futures established their best month ever in total monthly volume and second best in average daily volume.
|
CBOE Holdings Consolidated Trading Volume |
Year-To-Date | |||||||
|
(trades in thousands) |
Mar-13 |
Mar-12 |
% Chg |
Feb-13 |
% Chg |
Mar-13 |
Mar-12 |
% Chg |
|
Trading Days |
20 |
22 |
19 |
60 |
62 |
|||
|
Total Contracts(options & futures) |
89,811.7 |
108,625.8 |
-17% |
83,140.4 |
8% |
261,972.0 |
302,667.5 |
-13% |
|
Total Options Contracts (CBOE & C2) |
86,582.8 |
106,654.2 |
-19% |
80,052.6 |
8% |
252,727.7 |
298,543.9 |
-15% |
|
Total Futures Contracts (CFE) |
3,228.9 |
1,971.6 |
64% |
3,087.8 |
5% |
9,244.3 |
4,123.6 |
124% |
|
Total ADV (options & futures) |
4,490.5 |
4,937.5 |
-9% |
4,375.8 |
3% |
4,366.2 |
4,881.7 |
-11% |
|
Total Options ADV (CBOE & C2) |
4,329.1 |
4,847.9 |
-11% |
4,213.3 |
3% |
4,212.1 |
4,815.2 |
-13% |
|
Total Futures ADV (CFE) |
161.4 |
89.6 |
80% |
162.5 |
-1% |
154.1 |
66.5 |
132% |
CBOE Trading Volume and Market Share
CBOE Trading Volume:
|
CBOE Trading Volume Current Month |
Year-To-Date | |||||||
|
(trades in thousands) |
Mar-13 |
Mar-12 |
% Chg |
Feb-13 |
% Chg |
Mar-13 |
Mar-12 |
% Chg |
|
Trading Days |
20 |
22 |
19 |
60 |
62 |
|||
|
Total Exchange |
80,802.2 |
101,742.4 |
-21% |
75,053.9 |
8% |
236,695.7 |
284,768.1 |
-17% |
|
Total Exchange ADV |
4,040.1 |
4,624.7 |
-13% |
3,950.2 |
2% |
3,944.9 |
4,593.0 |
-14% |
|
Equity Options |
29,346.3 |
46,413.7 |
-37% |
29,405.9 |
0% |
91,365.2 |
138,184.2 |
-34% |
|
Equity Options ADV |
1,467.3 |
2,109.7 |
-30% |
1,547.7 |
-5% |
1,522.8 |
2,228.8 |
-32% |
|
Index Options |
31,055.0 |
26,795.6 |
16% |
26,827.1 |
16% |
89,909.9 |
72,417.8 |
24% |
|
Index Options ADV |
1,552.8 |
1,218.0 |
27% |
1,412.0 |
10% |
1,498.5 |
1,168.0 |
28% |
|
ETF Options |
20,400.9 |
28,533.0 |
-29% |
18,820.9 |
8% |
55,420.6 |
74,166.1 |
-25% |
|
ETF Options ADV |
1,020.0 |
1,297.0 |
-21% |
990.6 |
3% |
923.7 |
1,196.2 |
-23% |
Expanded full-year and March 2013 volume information for CBOE index and ETP options is available at: www.cboe.com/data/monthlyvolume.aspx.
CBOE Market Share:
CBOE market share of total U.S. options industry volume was 25.9 percent in March 2013, up 2.5 percentage points from February 2013 and down 1.1 percentage points from March 2012. If the volume from dividend trades was excluded from industry data for March, the Exchange's total market share would be 26.7 percent. Exclusion of dividend trades from total industry volume data presents a more relevant measure of the relative trends in the options business.
|
CBOE Market Share Current Month |
Year-To-Date | |||||||
|
Mar-13 |
Mar-12 |
% Pt. Chg. |
Feb-13 |
% Pt. Chg |
Mar-13 |
Mar-12 |
% Pt. Chg. | |
|
Total Exchange |
25.9% |
27.0% |
-1.1% |
23.4% |
2.5% |
23.8% |
26.8% |
-3.0% |
|
Total Exchange (excl. dividend trades) |
26.7% |
28.6% |
-1.9% |
24.1% |
2.6% |
24.4% |
28.5% |
-4.1% |
|
Equity Options |
17.6% |
22.6% |
-5.0% |
15.9% |
1.7% |
16.0% |
21.8% |
-5.8% |
|
Equity Options (excl. dividend trades) |
19.8% |
24.3% |
-4.5% |
18.7% |
1.1% |
18.1% |
24.2% |
-6.1% |
|
Index Options |
95.5% |
94.4% |
1.1% |
94.6% |
0.9% |
95.0% |
94.6% |
0.4% |
|
Index Options (excl. dividend trades) |
95.2% |
94.4% |
0.8% |
93.8% |
1.4% |
94.5% |
94.6% |
-0.1% |
|
ETF Options |
18.1% |
20.0% |
-1.9% |
17.4% |
0.7% |
16.9% |
21.1% |
-4.2% |
|
ETF Options (excl. dividend trades) |
18.7% |
21.3% |
-2.6% |
17.4% |
1.3% |
17.1% |
21.7% |
-4.6% |
C2 Trading Volume and Market Share
C2 Trading Volume:
C2 volume in March 2013 totaled 5.78 million contracts. ADV was 289,000 contracts – up 29 percent from March 2012 ADV of 223,300 contracts and up 10 percent from February 2013 ADV of 263,100 contracts.
|
C2 Trading Volume Current Month |
Year-To-Date | |||||||
|
(trades in thousands) |
Mar-13 |
Mar-12 |
% Chg |
Feb-13 |
% Chg |
Mar-13 |
Mar-12 |
% Chg |
|
Trading Days |
20 |
22 |
19 |
60 |
62 |
|||
|
Total Exchange |
5,780.7 |
4,911.8 |
18% |
4,998.6 |
16% |
16,032.0 |
13,775.8 |
16% |
|
Total Exchange ADV |
289.0 |
223.3 |
29% |
263.1 |
10% |
267.2 |
222.2 |
20% |
|
Equity Options |
1,106.0 |
1,875.6 |
-41% |
1,362.7 |
-19% |
4,919.9 |
5,675.2 |
-13% |
|
Equity Options ADV |
55.3 |
85.3 |
-35% |
71.7 |
-23% |
82.0 |
91.5 |
-10% |
|
Index Options* |
-- |
165.4 |
-- |
52.0 |
-- |
136.3 |
360.2 |
-- |
|
Index Options ADV* |
-- |
7.5 |
-- |
2.7 |
-- |
2.3 |
5.8 |
-- |
|
ETF Options |
4,674.7 |
2,870.9 |
63% |
3,583.9 |
30% |
10,975.9 |
7,740.4 |
42% |
|
ETF Options ADV |
233.7 |
130.5 |
79% |
188.6 |
24% |
182.9 |
124.8 |
47% |
*SPXpm moved from C2 to CBOE on February 19, 2013.
C2 Market Share:
C2 market share of total industry volume in March 2013 was 1.9 percent, up 0.6 of a percentage point from March 2012 and up 0.3 of a percentage point from February 2013.
|
C2 Market Share Current Month |
Year-To-Date |
|||||||
|
Mar-13 |
Mar-12 |
% Pt. Chg. |
Feb-13 |
% Pt. Chg. |
Mar-13 |
Mar-12 |
% Pt. Chg. | |
|
Total Exchange |
1.9% |
1.3% |
0.6% |
1.6% |
0.3% |
1.6% |
1.3% |
0.3% |
|
Total Exchange(excl. dividend trades) |
1.9% |
0.9% |
1.0% |
1.6% |
0.3% |
1.7% |
1.4% |
0.3% |
|
Equity Options |
0.7% |
0.9% |
-0.2% |
0.7% |
-- |
0.9% |
0.9% |
-- |
|
Equity Options (excl. dividend trades) |
0.7% |
1.0% |
-0.3% |
0.8% |
-0.1% |
0.9% |
1.0% |
-0.1% |
|
Index Options* |
-- |
0.6% |
-- |
0.2% |
-- |
0.1% |
0.5% |
-- |
|
Index Options*(excl. dividend trades) |
-- |
0.6% |
-- |
0.2% |
-- |
0.2% |
0.5% |
-- |
|
ETF Options |
4.2% |
2.0% |
2.2% |
3.3% |
0.9% |
3.4% |
2.2% |
1.2% |
|
ETF Options (excl. dividend trades) |
4.3% |
2.1% |
2.2% |
3.3% |
1.0% |
3.4% |
2.3% |
1.1% |
*SPXpm moved from C2 to CBOE on February 19, 2013.
CBOE Futures Exchange Trading Volume
CBOE Holdings Average Revenue Per Contract
The following represents the average revenue per contract based on a three-month rolling average, reported on a one-month lag. The average revenue per contract represents total transaction fees for CBOE, C2 and CFE recognized for the period divided by total contracts traded on all three exchanges during the period. Average revenue per contract can be affected by various factors, including exchange fee rates, volume-based discounts and transaction mix by contract type and product type.
|
(In Dollars) |
Three-Month Period Ended |
||||
|
Product: |
Feb-13 |
Jan-13 |
Dec-12 |
Nov-12 |
|
|
Equities |
$0.153 |
$0.149 |
$0.134 |
$0.124 |
|
|
Indexes |
$0.670 |
$0.665 |
$0.670 |
$0.670 |
|
|
Exchange Traded Products |
$0.181 |
$0.194 |
$0.186 |
$0.183 |
|
|
Total Options Average Revenue Per Contract |
$0.341 |
$0.340 |
$0.322 |
$0.309 |
|
|
Futures |
$1.560 |
$1.484 |
$1.442 |
$1.473 |
|
|
Total Average Revenue Per Contract |
$0.382 |
$0.376 |
$0.355 |
$0.342 |
|
About CBOE Holdings
CBOE Holdings, Inc. (NASDAQ: CBOE) is the holding company for Chicago Board Options Exchange, Incorporated (CBOE), CBOE Futures Exchange, LLC (CFE) and other subsidiaries. CBOE, the largest U.S. options exchange and creator of listed options, continues to set the bar for options and volatility trading through product innovation, trading technology and investor education. CBOE Holdings offers equity, index and ETP options, including proprietary products, such as S&P 500 options (SPX), the most active U.S. index option, and options and futures on the CBOE Volatility Index (the VIX Index). Other products engineered by CBOE include equity options, security index options, LEAPS options, FLEX options, and benchmark products such as the CBOE S&P 500 BuyWrite Index (BXM). CBOE Holdings is home to the world-renowned Options Institute and www.cboe.com, the go-to place for options and volatility trading resources. CBOE is regulated by the Securities and Exchange Commission (SEC), with all trades cleared by the OCC.
CBOE®, Chicago Board Options Exchange®, CFE®, FLEX®, LEAPS®, CBOE Volatility Index® and VIX® are registered trademarks, and BuyWriteSM, BXMSM, CBOE Futures ExchangeSM, Execute SuccessSM, SPXSM, SPXpmSM, and The Options Institute are service marks of Chicago Board Options Exchange, Incorporated (CBOE). C2SM and C2 Options ExchangeSM are service marks of C2 Options Exchange, Incorporated (C2). Standard & Poor's®, S&P® and S&P 500® are registered trademarks of Standard & Poor's Financial Services, LLC and have been licensed for use by CBOE, C2 and CFE. All other trademarks and service marks are the property of their respective owners.
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