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Cboe Global (CBOE) Reports Mixed February Volumes, Shares Up

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Zacks Equity Research
·3 min read
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Cboe Global Markets CBOE reported total average daily volume (ADV) of 13.4 million contracts in February, up 17.4% year over year, driven by solid performance in Options, partly offset by lower Futures volume. Though U.S. Equities Global Forex increased, European Equities declined. Shares gained 2.3% in the last trading session.

Total contracts for the month were nearly 254.4 million, up 17.4% year over year. Of this, Options improved 19% to 249.3 million, while Futures decreased 28.9% to 5.1 million. While Options’ ADV was 13.1 million, Futures’ ADV was 0.3 million.

Total volumes of U.S. Equities were 43.8 billion shares, up 53.9% year over year. European Equities reflected a decline of 13.4% year over year to €150.6 billion. Meanwhile, Global FX decreased 9.5% to $746.9 billion. Total volumes of Canadian Equities traded were 1.7 billion in February while U.S. Equities – Off-Exchange Matched volumes were 1.9 billion shares.

Cboe Global is likely to continue witnessing solid average daily volumes, given its compelling product portfolio, which drives transaction fees that account for the lion’s share of total operating revenues.

This 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.

Shares of CBOE Global Markets have gained 5.5% year to date compared with the industry's growth of 2.8%. Diversified product portfolio, compelling growth, expense synergies, increasing transaction fees and solid liquidity position are likely to help shares sustain the momentum.



Recently, CME Group CME reported average daily volume of 24.6 million contracts per day in February, down 18% year over year, due to lower volumes in its six product lines. MarketAxess Holdings MKTX reported February volumes of $610.4 billion, comprising $225.3 billion in credit volume and $385.1 billion in rates volume. Intercontinental Exchange’s ICE average daily volume (ADV) in February decreased 1.2% to 7.5 million, primarily due to lower Agriculture and Metals ADV, Energy volume, Commodities ADV and Equity Index volume.

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