Cboe Global's (CBOE) August Volume Increases Year Over Year
Zacks Investment Research | Sep 05, 2019 09:56PM ET
Cboe Global Markets, Inc. (NYSE:CBOE) posted total average daily volume (ADV) of 8.8 million contracts, improving 24.8% year over year driven by solid performance across Options and Futures. Though U.S. Equities witnessed increase, European Equities and global forex declined.
Total contracts for the month were nearly 194 million, up 19.4% year over year. Of this, Options improved 18.7% to 186.1 million while Futures increased 36.2% to 7.9 million. Options’ ADV was 8.5 million whereas Futures’ ADV was 0.4 million.
Total volumes of U.S. Equities came in at 28 billion shares, up 11.9% year over year. European Equities reflected a 28.5% deterioration year over year to €146.9 billion whereas Global FX fell 9.2% to $728 billion.
Nonetheless, CBOE Global should continue witnessing solid average daily volumes given its compelling product portfolio. This drives transaction fees, which account for the lion’s share of total operating revenues.
The Zacks Rank #3 (Hold) derivatives exchange in the United States has a strong market position and global reach with strength in its proprietary products, primarily SPX options, VIX options and VIX futures.
The company is also exploring new markets like the Middle East, Scandinavia and Asia, while pursuing jurisdictional approval in more established markets, including Switzerland and Israel. In its efforts to boost growth, the company plans to launch CBOE Closing Cross, a new post-close trading service operating across 18 European markets in October 2019 and intends to bring similar product in the U.S. Equities market too.
Shares of CBOE Global Markets have outperformed the .
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