Cboe Global's (CBOE) March Average Daily Volume Increases Y/Y

Zacks Equity Research

Cboe Global Markets, Inc. CBOE reported an average daily volume (“ADV”) for March 2020. Total ADV of 12.3 million contracts increased 67.8% year over year, driven by solid performance across Options and Futures contracts. Also, U.S. Equities, European Equities and Global Forex witnessed increased volumes year over year. ADV increased 7.9% from February 2020.

Total contracts for the month were 271 million, having increased 75.8% year over year. Of this, Options contracts increased 77.1% to 263.3 million, while Futures surged 41.3% to 7.5 million. Options ADV was 11.9 million whereas Futures ADV was 0.3 million.

Subsequently, total volumes of the U.S. Equities Matched were 59.4 billion shares, up 139.8% year over year. Moreover, European Equities Matched reflected a 35.3% improvement year over year to €259 billion whereas Global FX Matched was up 49.4% to $1209.6 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.

The derivative 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.

The company is committed to build an economic market model via technological advancements. Also, upgrade of a wide array of products and services will assist all exchanges to stay afloat amid changing industry dynamics.

Shares of CBOE Global Markets have underperformed its industry in a year. The stock has lost 0.8% against the industry’s growth of 12.3%. CBOE Global currently carries Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

 

 


Recently, securities exchanges, namely Intercontinental Exchange Incorporation ICE, CME Group Inc. CME and MarketAxess Holdings Ltd. MKTX, reported their volumes.

Intercontinental Exchange’s ADV for March increased 56% to 9.4 million, largely backed by improved Financial ADV, Commodities ADV and Energy ADV.

CME Group reported ADV for March 2020. The month recorded ADV of 32.1 million contracts per day, up 68% year over year on increased contribution across all six product lines.

MarketAxess Holdings’ ADV of $269.5 billion for March 2020 was up 50.8% year over year.

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