On Monday, CBOE Holdings, Inc. (NASDAQ: CBOE) reported that January trading volume for options contracts on Chicago Board Options Exchange?(CBOE?) and C2 Options Exchange (C2SM) and futures contracts on CBOE Futures ExchangeSM?(CFE?) totaled 121.45 million contracts. Average daily volume (ADV) was 5.78 million contracts, a 36-percent increase from January 2013 and a 28-percent increase from December 2013.
During the month, CBOE Volatility Index??(VIX??Index) options established an all-time-monthly ADV record, and VIX futures set an all-time monthly volume record.
Here’s a look at January numbers.?
CBOE?Trading Volume
- VIX Index and SPX Weeklys(SM) (SPXW) options established new monthly records in January. VIX options ADV was a record 791,978 contracts, beating the previous monthly record set in October 2013. SPXW options set all-time-high volume and ADV records at 5.85 million contracts and 278,537 contracts, respectively, surpassing May 2013 records.
- CBOE’s ADV was 5.26 million contracts, a 37-percent increase from January 2013 and a 29-percent increase from December 2013.
- Equity options ADV was 2.31 million contracts, a 49-percent increase from January 2013 and a 37-percent increase from December 2013.
- Exchange traded product (ETP) options ADV was 1.17 million contracts, a 52-percent increase from January 2013 and an 18-percent increase from December 2013.
- Index options ADV was 1.78 million contracts, a 17-percent increase from January 2013 and a 27-percent increase from December 2013.
CBOE Market Share
CBOE’s market share of total U.S. options industry volume was 28.4 percent in January 2014, an increase of 5.4 percentage points from January 2013 and an increase of 1.6 percentage points from December 2013.
C2 Trading Volume
- C2’s trading volume totaled 6.54 million contracts with ADV at 311,200 contracts. This represented a 24-percent increase from January 2013 and a 14-percent increase from December 2013.
(Note: Russell 2000 Index options began trading on C2 on September 3, 2013. Prior period index options include SPXpmSM, which was moved to CBOE from C2 on February 17, 2013).
?C2 Market Share
- C2’s market share of total industry volume was 1.7 percent, a 0.3-percentage-point increase from January 2013 and a 0.1-percentage-point decrease from December 2013.
CFE Trading Volume and Highlights
- CBOE Futures Exchange and VIX futures both established monthly volume records in January.?Trading volume in VIX futures totaled a record 4.40 million contracts, a 52-percent increase from January 2013 and a 38-percent increase from December 2013. The previous monthly volume record for VIX futures was 4.21 million contracts traded in June 2013.
- Average daily volume (ADV) in VIX futures was 209,611 contracts, VIX futures’ second-busiest monthly ADV, trailing only the 210,674 contracts per day in June 2013.