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Cboe Global Markets’ CBOE average daily volume (“ADV”) in November 2020 of 11 million contracts increased 47.8% year over year, driven by 49.9% higher Options contracts, partly offset by 19.9% lower Futures ADV. Also, U.S. Equities, European Equities and global forex witnessed increased volumes year over year. ADV increased 15.2% from October 2020.
Total contracts for the month were 220 million, up 47.8% year over year. Of this, Options contracts increased 49.9% to 217 million, while Futures dropped 19.9% to 3.5 million. Options ADV was 10.8 million whereas Futures ADV was 0.1 million.
Subsequently, total volumes of the U.S. Equities Matched were 1.7 billion shares, up 51.1% year over year. Moreover, European Equities Matched reflected a 33% increase year over year to €8.2 billion. Global FX Matched was up 31.9% to $37.6 billion.
CBOE Global should continue witnessing solid average daily volumes, given its compelling product portfolio. It should drive transaction fees, which account for the lion’s share of total operating revenues.
This Zacks Rank #4 (Sell) derivatives exchange in the United States has a strong market position and global reach driven by strength in its proprietary products, primarily SPX options, VIX options and VIX futures.
The company is committed toward building a strategic economic market model via technological advancements. Also, the upgrade of a wide array of products and services will assist all exchanges to stay afloat amid changing industry dynamics.
Notably, Cboe EDGX Options Exchange was up 122% from November 2019.
Shares of CBOE Global Markets have underperformed its industry in the past year. The stock has lost 22.1% against the industry’s rise of 7.4%. Nevertheless, the solid fundamentals like diversified product portfolio and strong liquidity position should help the stock bounce back.
Recently, Nasdaq NDAQ reported November volumes. While U.S. equity options volume increased 77.9% year over year to 242 million contracts, European options and futures volume decreased 25.3% year over year to 5.9 million contracts.
MarketAxess Holdings MKTX reported total trading volume of $503.9 billion for November 2020, which marked a 9.4% improvement year over year.
CME Group CME reported an impressive average daily volume (ADV) for November 2020. Average daily volume of 19.3 million contracts per day was up 6% year over year, attributable to higher volumes in three of the six product lines.
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Cboe Global Markets, Inc. (CBOE) : Free Stock Analysis Report
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