CBOE Holdings (CBOE) Reports Sharp Rise in Volume for May
CBOE Holdings, Inc. CBOE recently announced that the average daily volume (ADV) for May have improved 23.7% year over year to 7.3 million contracts. The month of May had 22 trading days.
Total contracts for May 2017 was 161.6 million, up 29.5% year over year. Of this, options contracts increased 29.2% to 154.9 million, while futures contracts surged 39.5% to 6.7 million. Of the average daily volume (ADV), Options ADV was 7.0 million and Futures ADV was 0.3 million.
CBOE Holdings have been witnessing improvement in trading volumes. This has largely supported increasing transaction fees (accounted for 72% of total operating revenue in 2016) and in turn, revenue growth. We believe this Zacks Rank #1 (Strong Buy) options exchange will be able to retain its revenue momentum in the coming quarters, backed by its strong market position, global reach and a robust portfolio of proprietary products.
Subsequently, ADV of U.S Equities matched were 1.3 billion shares in May, down 10.9% from the year-ago month. While European Equities matched increased 8.8% year over year to €10.3 billion, Global FX Matched declined 20.4% to $28.2 billion.
Shares of CBOE Holdings outperformed the Zacks categorized Securities and Exchanges industry, quarter to date. While Intercontinental Exchange’s shares gained 7.19%, the Securities Exchanges industry registered an increase of 0.10%. We expect the company’s diversified product portfolio and expansion moves to fuel growth as well as drive shares higher.
Recently, securities exchanges Nasdaq Inc. NDAQ, Intercontinental Exchange, Inc. ICE and MarketAxess Holdings Ltd. MKTX also reported their respective May volumes. While Nasdaq’s May volume jumped 102% to 146.3 million contracts, Intercontinental Exchange’s average daily volume climbed 28% to 5.5 million contracts. MarketAxess reported trading volume of $126.5 billion in May.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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