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CHICAGO<\/span>,– <\/strong>Cboe Global Markets, Inc. (Cboe: CBOE), one of the world’s largest exchange holding companies, today reported March monthly trading volume.<\/p>\n The data sheet “Cboe Global Markets Monthly Volume & RPC\/Net Revenue Capture Report” contains an overview of March and year-to-date trading statistics and market share by business segment, volume in select index products, and RPC, which is reported on a one-month lag, across business lines.<\/p>\n MONTHLY TRADING VOLUME<\/span><\/p>\n<\/td>\n Year-To-Date<\/span><\/p>\n<\/td>\n<\/tr>\n March<\/span><\/p>\n<\/td>\n March<\/span><\/p>\n<\/td>\n %<\/span><\/p>\n<\/td>\n February<\/span><\/p>\n<\/td>\n %<\/span><\/p>\n<\/td>\n March<\/span><\/p>\n<\/td>\n March<\/span><\/p>\n<\/td>\n %<\/span><\/p>\n<\/td>\n<\/tr>\n 2020<\/span><\/p>\n<\/td>\n 2019<\/span><\/p>\n<\/td>\n Chg<\/span><\/p>\n<\/td>\n 2020<\/span><\/p>\n<\/td>\n Chg<\/span><\/p>\n<\/td>\n 2020<\/span><\/p>\n<\/td>\n 2019<\/span><\/p>\n<\/td>\n Chg<\/span><\/p>\n<\/td>\n<\/tr>\n OPTIONS (contracts, thousands)<\/span><\/p>\n<\/td>\n Year-To-Date<\/span><\/p>\n<\/td>\n<\/tr>\n Trading Days<\/span><\/p>\n<\/td>\n 22<\/span><\/p>\n<\/td>\n 21<\/span><\/p>\n<\/td>\n 19<\/span><\/p>\n<\/td>\n 62<\/span><\/p>\n<\/td>\n 61<\/span><\/p>\n<\/td>\n Total Volume <\/span><\/p>\n<\/td>\n 263,373<\/span><\/p>\n<\/td>\n 148,748<\/span><\/p>\n<\/td>\n 77.1%<\/span><\/p>\n<\/td>\n 209,552<\/span><\/p>\n<\/td>\n 25.7%<\/span><\/p>\n<\/td>\n 665,343<\/span><\/p>\n<\/td>\n 430,838<\/span><\/p>\n<\/td>\n 54.4%<\/span><\/p>\n<\/td>\n<\/tr>\n Total ADV <\/span><\/p>\n<\/td>\n 11,971<\/span><\/p>\n<\/td>\n 7,083<\/span><\/p>\n<\/td>\n 69.0%<\/span><\/p>\n<\/td>\n 11,029<\/span><\/p>\n<\/td>\n 8.5%<\/span><\/p>\n<\/td>\n 10,731<\/span><\/p>\n<\/td>\n 7,063<\/span><\/p>\n<\/td>\n 51.9%<\/span><\/p>\n<\/td>\n<\/tr>\n FUTURES (contracts, thousands)<\/span><\/p>\n<\/td>\n Year-To-Date<\/span><\/p>\n<\/td>\n<\/tr>\n Trading Days<\/span><\/p>\n<\/td>\n 22<\/span><\/p>\n<\/td>\n 21<\/span><\/p>\n<\/td>\n 19<\/span><\/p>\n<\/td>\n 62<\/span><\/p>\n<\/td>\n 61<\/span><\/p>\n<\/td>\n Total Volume<\/span><\/p>\n<\/td>\n 7,545<\/span><\/p>\n<\/td>\n 5,338<\/span><\/p>\n<\/td>\n 41.3%<\/span><\/p>\n<\/td>\n 7,182<\/span><\/p>\n<\/td>\n 5.1%<\/span><\/p>\n<\/td>\n 20,514<\/span><\/p>\n<\/td>\n 14,112<\/span><\/p>\n<\/td>\n 45.4%<\/span><\/p>\n<\/td>\n<\/tr>\n Total ADV <\/span><\/p>\n<\/td>\n 343<\/span><\/p>\n<\/td>\n 254<\/span><\/p>\n<\/td>\n 34.9%<\/span><\/p>\n<\/td>\n 378<\/span><\/p>\n<\/td>\n -9.3%<\/span><\/p>\n<\/td>\n 331<\/span><\/p>\n<\/td>\n 231<\/span><\/p>\n<\/td>\n 43.0%<\/span><\/p>\n<\/td>\n<\/tr>\n U.S. EQUITIES (shares, millions)<\/span><\/p>\n<\/td>\n Year-To-Date<\/span><\/p>\n<\/td>\n<\/tr>\n Trading Days<\/span><\/p>\n<\/td>\n 22<\/span><\/p>\n<\/td>\n 21<\/span><\/p>\n<\/td>\n 19<\/span><\/p>\n<\/td>\n 62<\/span><\/p>\n<\/td>\n 61<\/span><\/p>\n<\/td>\n Total Volume<\/span><\/p>\n<\/td>\n 59,421<\/span><\/p>\n<\/td>\n 24,781<\/span><\/p>\n<\/td>\n 139.8%<\/span><\/p>\n<\/td>\n 28,464<\/span><\/p>\n<\/td>\n 108.8%<\/span><\/p>\n<\/td>\n 113,805<\/span><\/p>\n<\/td>\n 73,516<\/span><\/p>\n<\/td>\n 54.8%<\/span><\/p>\n<\/td>\n<\/tr>\n Total ADV<\/span><\/p>\n<\/td>\n 2,701<\/span><\/p>\n<\/td>\n 1,180<\/span><\/p>\n<\/td>\n 128.9%<\/span><\/p>\n<\/td>\n 1,498<\/span><\/p>\n<\/td>\n 80.3%<\/span><\/p>\n<\/td>\n 1,836<\/span><\/p>\n<\/td>\n 1,205<\/span><\/p>\n<\/td>\n 52.3%<\/span><\/p>\n<\/td>\n<\/tr>\n EUROPEAN EQUITIES (€ millions)<\/span><\/p>\n<\/td>\n Year-To-Date<\/span><\/p>\n<\/td>\n<\/tr>\n Trading Days<\/span><\/p>\n<\/td>\n 22<\/span><\/p>\n<\/td>\n 21<\/span><\/p>\n<\/td>\n 20<\/span><\/p>\n<\/td>\n 64<\/span><\/p>\n<\/td>\n 63<\/span><\/p>\n<\/td>\n Total Notional Value<\/span><\/p>\n<\/td>\n € 259,065<\/span><\/p>\n<\/td>\n € 191,498<\/span><\/p>\n<\/td>\n 35.3%<\/span><\/p>\n<\/td>\n € 173,999<\/span><\/p>\n<\/td>\n 48.9%<\/span><\/p>\n<\/td>\n € 581,890<\/span><\/p>\n<\/td>\n € 580,817<\/span><\/p>\n<\/td>\n 0.2%<\/span><\/p>\n<\/td>\n<\/tr>\n Total ADNV<\/span><\/p>\n<\/td>\n € 11,776<\/span><\/p>\n<\/td>\n € 9,119<\/span><\/p>\n<\/td>\n 29.1%<\/span><\/p>\n<\/td>\n € 8,700<\/span><\/p>\n<\/td>\n 35.4%<\/span><\/p>\n<\/td>\n € 9,092<\/span><\/p>\n<\/td>\n € 9,219<\/span><\/p>\n<\/td>\n -1.4%<\/span><\/p>\n<\/td>\n<\/tr>\n GLOBAL FX ($ millions)<\/span><\/p>\n<\/td>\n Year-To-Date<\/span><\/p>\n<\/td>\n<\/tr>\n Trading Days<\/span><\/p>\n<\/td>\n 22<\/span><\/p>\n<\/td>\n 21<\/span><\/p>\n<\/td>\n 20<\/span><\/p>\n<\/td>\n 64<\/span><\/p>\n<\/td>\n 63<\/span><\/p>\n<\/td>\n Total Notional Value<\/span><\/p>\n<\/td>\n $1,209,632<\/span><\/p>\n<\/td>\n $809,512<\/span><\/p>\n<\/td>\n 49.4%<\/span><\/p>\n<\/td>\n $825,067<\/span><\/p>\n<\/td>\n 46.6%<\/span><\/p>\n<\/td>\n $2,773,720<\/span><\/p>\n<\/td>\n $2,299,044<\/span><\/p>\n<\/td>\n 20.6%<\/span><\/p>\n<\/td>\n<\/tr>\n Total ADNV<\/span><\/p>\n<\/td>\n $54,983<\/span><\/p>\n<\/td>\n $38,548<\/span><\/p>\n<\/td>\n 42.6%<\/span><\/p>\n<\/td>\n $41,253<\/span><\/p>\n<\/td>\n 33.3%<\/span><\/p>\n<\/td>\n $43,339<\/span><\/p>\n<\/td>\n $36,493<\/span><\/p>\n<\/td>\n 18.8%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n ADV= average daily volume March 2020<\/span> Volume Highlights Futures<\/u><\/strong><\/p>\n U.S. Equities<\/u><\/strong><\/p>\n European Equities<\/u><\/strong><\/p>\n Global FX<\/u><\/strong><\/p>\n First-Quarter 2020 RPC\/Net Revenue Capture Guidance Futures U.S. Equities European Equities Global FX These expectations are estimated, preliminary and may change. There can be no assurance that our final RPC for the three months ended March 31, 2020<\/span>, will not differ materially from these expectations.<\/p>\n The following represents average RPC and met revenue capture based on a two-month and a three-month rolling average, reported on a one-month lag. The average RPC represents total transaction fees for C1, C2, BZX and EDGX Options Exchanges and CFE recognized for the period divided by total contracts traded during the period. For U.S. Equities, “net capture per 100 touched shares” refers to annual transaction fees less liquidity payments and routing and clearing costs divided by the product of one-hundredth ADV of touched shares on BZX, BYX, EDGX and EDGA and the number of trading days. For European Equities, “net capture per matched notional value” refers to transaction fees less liquidity payments in British pounds divided by the product of ADNV in British pounds of shares matched on Cboe Europe Equities and the number of trading days. For Global FX, “net capture per one million dollars<\/span> traded” refers to transaction fees less liquidity payments, if any, divided by the product of one-thousandth of ADNV traded on the Cboe FX Markets and the number of trading days, divided by two, which represents the buyer and seller that are both charged on the transaction. Average transaction fees per contract can be affected by various factors, including exchange fee rates, volume-based discounts and transaction mix by contract type and product type.<\/p>\n (In Dollars unless stated otherwise)<\/em><\/span><\/p>\n<\/td>\n Two- 1Q20 Guidance<\/strong><\/span><\/p>\n vs.<\/strong><\/span><\/p>\n Two-month Avg<\/strong><\/span><\/p>\n<\/td>\n Three-Months Ended<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n Product:<\/strong><\/span><\/p>\n<\/td>\n Feb-20<\/strong><\/span><\/p>\n<\/td>\n Feb-20<\/strong><\/span><\/p>\n<\/td>\n Jan-20<\/strong><\/span><\/p>\n<\/td>\n Dec-19<\/strong><\/span><\/p>\n<\/td>\n Nov-19<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n Multi-Listed Options<\/strong> (per contract)<\/span><\/p>\n<\/td>\n $0.053<\/span><\/p>\n<\/td>\n 1.5 to 2.5% above<\/span><\/p>\n<\/td>\n $0.053<\/span><\/p>\n<\/td>\n $0.051<\/span><\/p>\n<\/td>\n $0.055<\/span><\/p>\n<\/td>\n $0.055<\/span><\/p>\n<\/td>\n<\/tr>\n Index Options <\/strong>(per contract)<\/span><\/p>\n<\/td>\n $0.764<\/span><\/p>\n<\/td>\n 1.5 to 2.5% above<\/span><\/p>\n<\/td>\n $0.764<\/span><\/p>\n<\/td>\n $0.758<\/span><\/p>\n<\/td>\n $0.766<\/span><\/p>\n<\/td>\n $0.765<\/span><\/p>\n<\/td>\n<\/tr>\n Total Options <\/strong>(per contract)<\/span><\/p>\n<\/td>\n $0.219<\/span><\/p>\n<\/td>\n 6.0 to 7.0% above<\/span><\/p>\n<\/td>\n $0.221<\/span><\/p>\n<\/td>\n $0.215<\/span><\/p>\n<\/td>\n $0.225<\/span><\/p>\n<\/td>\n $0.224<\/span><\/p>\n<\/td>\n<\/tr>\n Futures<\/strong> (per contract)<\/span><\/p>\n<\/td>\n $1.731<\/span><\/p>\n<\/td>\n 0.5 to 1.5% above<\/span><\/p>\n<\/td>\n $1.747<\/span><\/p>\n<\/td>\n $1.779<\/span><\/p>\n<\/td>\n $1.794<\/span><\/p>\n<\/td>\n $1.788<\/span><\/p>\n<\/td>\n<\/tr>\n U.S. Equities<\/strong> (per 100 touched notional value)<\/span><\/p>\n<\/td>\n $0.024<\/span><\/p>\n<\/td>\n 7.0 to 8.0% above<\/span><\/p>\n<\/td>\n $0.026<\/span><\/p>\n<\/td>\n $0.025<\/span><\/p>\n<\/td>\n $0.023<\/span><\/p>\n<\/td>\n $0.020<\/span><\/p>\n<\/td>\n<\/tr>\n European Equities<\/strong> (per matched notional value, bps)<\/span><\/p>\n<\/td>\n 0.255<\/span><\/p>\n<\/td>\n 5.5 to 6.5% below<\/span><\/p>\n<\/td>\n 0.255<\/span><\/p>\n<\/td>\n 0.256<\/span><\/p>\n<\/td>\n 0.248<\/span><\/p>\n<\/td>\n 0.243<\/span><\/p>\n<\/td>\n<\/tr>\n Global FX<\/strong> (per one million dollars traded)<\/span><\/p>\n<\/td>\n $2.72<\/span><\/p>\n<\/td>\n 1.0 to 2.0% below<\/span><\/p>\n<\/td>\n $2.741<\/span><\/p>\n<\/td>\n $2.787<\/span><\/p>\n<\/td>\n $2.803<\/span><\/p>\n<\/td>\n $2.818<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n About Cboe Global Markets, Inc.<\/strong><\/p>\n Cboe Global Markets (Cboe: CBOE) is one of the world’s largest exchange holding companies, offering cutting-edge trading and investment solutions to investors around the world. The company is committed to defining markets to benefit its participants and drive the global marketplace forward through product innovation, leading edge technology and seamless trading solutions.<\/p>\n The company offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and volatility products based on the Cboe Volatility Index (VIX Index), recognized as the world’s premier gauge of U.S. equity market volatility.<\/p>\n Cboe’s subsidiaries include the largest options exchange and the third largest stock exchange operator in the U.S. In addition, the company operates one of the largest stock exchanges by value traded in Europe<\/span> and is a leading market globally for ETP listings and trading. <\/p>\n The company is headquartered in \n\n\n\n\n
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ADNV= average daily notional value<\/p>\n
<\/strong>Options<\/u><\/strong><\/p>\n\n
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<\/strong>Options
<\/u><\/strong>The company currently expects RPC for total options for the first quarter of 2020 to be 6.0 to 7.0 percent higher than the amounts noted below for the two months ended February 29, 2020<\/span>, primarily reflecting a higher percentage of volume from index options in March compared to the two-month average. The RPC for multi-listed options for the first quarter is expected to be 1.5 to 2.5 percent above the two-month average, due in part to a mix shift, with ETFs accounting for a higher percentage of total volume. The RPC for index options is expected to be 1.5 to 2.5 percent above the two-month average noted below, reflecting a mix shift by order execution and type, as well as the impact of a fee increase for SPX options implemented on February 2<\/span>.<\/p>\n
<\/u><\/strong>The RPC for futures in the first quarter of 2020 is expected to be 0.5 to 1.5 percent above the two-month average noted below, reflecting lower volume-related rebates in March.<\/p>\n
<\/u><\/strong>The revenue capture for U.S. Equities for the first quarter of 2020 is expected to be 7.0 to 8.0 percent above the two-month average noted below, reflecting a mix shift in volume.<\/p>\n
<\/u><\/strong>The revenue capture for European Equities for the first quarter of 2020 is expected to be 5.5 to 6.5 percent below the two-month average noted below, reflecting the net impact of volume-based tiers on March’s higher volume. <\/p>\n
<\/u><\/strong>The revenue capture for Global FX for the first quarter of 2020 is expected to be 1.0 to 2.0 percent below the two-month average noted below, reflecting the impact of higher volumes in March. <\/p>\n\n\n\n\n\n
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Months
Ended<\/strong><\/span><\/p>\n<\/td>\n\n \n \n \n \n <\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n