Cboe Global (CBOE) November Volumes Rise Y/Y, Shares Up
Zacks Investment Research | Dec 09, 2018 09:02PM ET
Shares of Cboe Global Markets, Inc. (NYSE:CBOE) gained 0.7% in the last trading session as it reported solid average daily volume (ADV) for November 2018. Total ADV of nearly 8 million contracts increased 3.9% year over year. However, the same declined 18.2% from October 2018.
Total contracts for November were 162.1 million, having increased 3.9% year over year. Of this, options contracts increased 4.4% to 162.1 million while futures contracts plunged 10.1% to 5.7 million. Options ADV was 7.7 million and Futures ADV was 0.3 million.
Subsequently, total volumes of the U.S. Equities Matched came in at 28.3 billion shares, up 8.8% year over year. Moreover, European Equities Matched reflected a 6.5% improvement year over year to nearly €227 billion whereas Global FX Matched climbed 2.6% to nearly $767 billion.
CBOE Global Markets has been witnessing solid trading volumes driving transaction fees. This, in turn, has been fueling revenue growth. Also, acquisition of Bats Global continues to add to the upside.
The Zacks Rank #3 (Hold) options exchange in the United States has a strong market position and a global reach with strength in its proprietary products, primarily SPX options, VIX options and VIX futures. Also, this year marks a huge transition with effortless migration of Cboe Futures Exchange to the Bats platform in February. This should help the company retain the solid revenue growth momentum.
Shares of CBOE Global Markets have underperformed the the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here ..
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