Technology
Cboe Global Markets Reports Trading Volume for September 2024
Published
2 years agoon
By
CHICAGO, Oct. 3, 2024 /PRNewswire/ — Cboe Global Markets, Inc. (Cboe: CBOE), the world’s leading derivatives and securities exchange network, today reported September 2024 trading volume statistics across its global business lines and provided guidance for selected revenue per contract/net revenue capture metrics for the third quarter of 2024.
The data sheet “Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report” contains an overview of certain September trading statistics and market share by business segment, volume in select index products, and RPC/net capture, which is reported on a one-month lag, across business lines.
Average Daily Trading Volume (ADV) by Month
Year-To-Date
Sep
2024
Sep
2023
%
Chg
Aug
2024
%
Chg
Sep
2024
Sep
2023
%
Chg
Multiply-listed options (contracts, k)
10,459
10,477
-0.2 %
10,344
1.1 %
10,587
10,844
-2.4 %
Index options (contracts, k)
4,130
3,949
4.6 %
4,403
-6.2 %
4,112
3,674
11.9 %
Futures (contracts, k)
232
236
-1.5 %
318
-26.8 %
250
220
13.5 %
U.S. Equities – On-Exchange (matched shares, mn)
1,234
1,267
-2.6 %
1,258
-1.9 %
1,369
1,398
-2.1 %
U.S. Equities – Off-Exchange (matched shares, mn)1
85
72
17.0 %
78
8.8 %
79
81
-2.4 %
Canadian Equities (matched shares, k)
148,628
145,392
2.2 %
137,798
7.9 %
144,297
134,229
7.5 %
European Equities (€, mn)
10,121
8,471
19.5 %
8,472
19.5 %
9,579
9,653
0.6 %
Cboe Clear Europe Cleared Trades2 (k)
102,208
86,594
18.0 %
98,844
3.4 %
900,227
890,090
1.1 %
Cboe Clear Europe Net Settlements2 (k)
943
814
15.9 %
982
-4.0 %
8,236
7,533
9.3 %
Australian Equities (AUD, mn)
891
683
30.5 %
860
3.6 %
790
697
13.3 %
Japanese Equities (JPY, bn)
312
187
66.3 %
334
-6.7 %
318
172
85.0 %
Global FX ($, mn)
48,096
46,417
3.6 %
51,330
-6.3 %
47,092
43,960
7.1 %
1 U.S. Equities – Off-Exchange ATS Block metrics restated to incorporate a tier of sell-side activity from July 2023 and forward, previously
excluded from reporting.
2 Cboe Clear Europe figures are totals (not ADV) for the months and years-to-date. As of April 2023, data has been restated to reflect both On-
Book and Off-Book cleared trades.
September and Third Quarter 2024 Trading Volume Highlights
U.S. Options
In the third-quarter, ADV for Cboe’s proprietary index options product suite reached an all-time high of 4.23 million contracts.Total volume in the third quarter in Cboe Volatility Index (VIX) options was 62.7 million contracts, with an ADV of 980 thousand contracts, the second-best quarterly volume on record.
Cboe Europe
Cboe Europe Periodic Auctions reported a monthly record average daily notional value (ADNV) of €2.4 billion in September, beating the previous record of €2.1 billion in April 2024.
Third-Quarter 2024 RPC/Net Revenue Capture Guidance
The projected RPC/net capture metrics for the third quarter of 2024 are estimated, preliminary and may change. There can be no assurance that our final RPC for the three months ended September 30, 2024, will not differ materially from these projections.
(In USD unless stated otherwise)
Three-Months Ended
Product:
3Q Projection
Aug-24
Jul-24
Jun-24
Multiply-Listed Options (per contract)
$0.062
$0.060
$0.059
$0.062
Index Options
$0.892
$0.894
$0.895
$0.898
Total Options
$0.297
$0.292
$0.284
$0.295
Futures (per contract)
$1.774
$1.785
$1.788
$1.757
U.S. Equities – Exchange (per 100 touched shares)
$0.024
$0.025
$0.027
$0.027
U.S. Equities – Off-Exchange (per 100 touched shares)
$0.135
$0.140
$0.139
$0.136
Canadian Equities (per 10,000 touched shares)
CAD 4.264
CAD 4.065
CAD 4.085
CAD 4.046
European Equities (per matched notional value)
0.256
0.254
0.256
0.251
Australian Equities (per matched notional value)
0.155
0.154
0.155
0.155
Japanese Equities (per matched notional value)
0.222
0.218
0.230
0.229
Global FX (per one million dollars traded)
$2.679
$2.662
$2.686
$2.690
Cboe Clear Europe Fee per Trade Cleared
€ 0.009
€ 0.008
€ 0.008
€ 0.008
Cboe Clear Europe Net Fee per Settlement
€ 1.030
€ 1.022
€ 1.033
€ 1.038
The above represents average revenue per contract (RPC) or net capture is based on a three-month rolling average, reported on a one-month lag. 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.
For Options and Futures, the average RPC represents total net transaction fees recognized for the period divided by total contracts traded during the period for options exchanges: BZX Options, Cboe Options, C2 Options and EDGX Options; futures include contracts traded on Cboe Futures Exchange, LLC (CFE).For U.S. Equities, “net capture per 100 touched shares” refers to 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 the period.For U.S. Equities – Off-Exchange, “net capture per 100 touched shares” refers to transaction fees less OMS/EMS costs and clearing costs divided by the product of one-hundredth ADV of touched shares on BIDS Trading and the number of trading days for the period.For Canadian Equities, “net capture per 10,000 touched shares” refers to transaction fees divided by the product of one-ten thousandth ADV of shares for Cboe Canada and the number of trading days for the period and includes revenue.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 Australian Equities, “net capture per matched notional value” refers to transaction fees less trading fee relief in Australian Dollars divided by the product of ADNV in Australian Dollars of shares matched on Cboe Australia and the number of trading days.For Japanese Equities, “net capture per matched notional value” refers to transaction fees less liquidity payments in Japanese Yen divided by the product of ADNV in Japanese Yen of shares matched on Cboe Japan and the number of trading days.For Global FX, “net capture per one million dollars traded” refers to transaction fees less liquidity payments, if any, divided by the Spot and SEF products 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.For Cboe Clear Europe, “Fee per Trade Cleared” refers to clearing fees divided by number of non-interoperable trades cleared and “Net Fee per Settlement” refers to settlement fees less direct costs incurred to settle divided by the number of settlements executed after netting.
About Cboe Global Markets
Cboe Global Markets (Cboe: CBOE), the world’s leading derivatives and securities exchange network, delivers cutting-edge trading, clearing and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives and FX across North America, Europe and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more about the Exchange for the World Stage, visit www.cboe.com.
Cboe Media Contacts
Cboe Analyst Contact
Angela Tu
Tim Cave
Kenneth Hill, CFA
+1-646-856-8734
+44 (0) 7593-506-719
+1-312-786-7559
atu@cboe.com
tcave@cboe.com
khill@cboe.com
CBOE-V
Cboe®, Cboe Global Markets®, Cboe Volatility Index®, and VIX® are registered trademarks of Cboe Exchange, Inc. or its affiliates. Standard & Poor’s®, S&P®, SPX®, and S&P 500® are registered trademarks of Standard & Poor’s Financial Services, LLC, and have been licensed for use by Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.
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There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: https://www.cboe.com/us_disclaimers/.
Options involve risk and are not suitable for all market participants. Prior to buying or selling an option, a person should review the Characteristics and Risks of Standardized Options (ODD), which is required to be provided to all such persons. Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606.
Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as “may,” “might,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential” or “continue,” and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.
We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our dependence on and exposure to risk from third parties; global expansion of operations; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our growth and strategic acquisitions or alliances effectively; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, counterparty, investment, and default risks, associated with operating a European clearinghouse; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing potential conflicts between our regulatory responsibilities and our for-profit status; our ability to maintain BIDS Trading as an independently managed and operated trading venue, separate from and not integrated with our registered national securities exchanges; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; the impacts of pandemics; the accuracy of our estimates and expectations; litigation risks and other liabilities; and risks relating to digital assets, including winding down the Cboe Digital spot crypto market and transitioning digital asset futures contracts to CFE, operating a digital assets futures clearinghouse, cybercrime, changes in digital asset regulation, and fluctuations in digital asset prices. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2023 and other filings made from time to time with the SEC.
We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.
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SOURCE Cboe Global Markets, Inc.
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U.S. Representatives Hoyer and Sessions Lead AbilityOne Modernization Bill
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WASHINGTON, Oct. 23, 2026 /PRNewswire/ — The American Association of Kidney Patients (AAKP), the nation’s oldest and largest independent kidney patient advocacy organization, today announced plans to accelerate national grassroots patient advocacy in support of bipartisan legislation that will modernize the federal AbilityOne program. The American Procurement Improvement Act (APIA), H.R. 10443, is championed by U.S. Representatives Pete Sessions (R-TX) and Steny Hoyer (D-MD). AAKP defines kidney disease as both an American healthcare and workforce issue and fights to expand career opportunities and job protections for all Americans impacted by kidney disease, disabilities, and chronic diseases.
The AbilityOne program creates private sector employment opportunities for over 41,000 Americans with severe vision and other disabilities, including nearly 3,000 American Veterans. In FY 2025, the program generated nearly 48 million direct labor hours, an 8 percent increase and a significant measure of disability employment growth, with workers working and working more hours. AbilityOne delivered more than $4.7 billion in products and services to the Federal government in FY 2025 and drew discouraged workers into the U.S. labor force while supporting greater workforce participation, increasing economic independence, and self-sufficiency. The AbilityOne mission taps the underutilized workforce of people with significant disabilities to deliver high-quality, mission-essential products and services to federal agencies, including the U.S. Department of Defense and the U.S. Department of Homeland Security.
The APIA legislation removes outdated statutory barriers to hiring, retention, advancement, and movement into careers of choice, including emerging fields and new lines of business. It also modernizes federal procurement by aligning AbilityOne with contemporary procurement practices and streamlines procurement processes so the program can respond faster to emerging federal agency priorities. The APIA legislation protects taxpayer interests, strengthens program accountability and stewardship by preserving oversight, transparency, and worker protections while modernizing AbilityOne Commission authorities. The legislation is seen as an opportunity to improve federal procurement and strengthen the federal government’s domestic supplier base.
Over 36 million Americans live with kidney disease, over 600,000 are on dialysis, and nearly 100,000 are awaiting a kidney transplant. Further, interrelated cardiovascular, kidney, and metabolic diseases have impacted more than 25% of the adult population and are a leading cause of death. More broadly, the American Heart Association estimates that 90% of U.S. adults, or about 240 million people, have some degree of interconnected cardiovascular, kidney, or metabolic health conditions. For kidney patients dependent upon status-quo, in-center hemodialysis, burdensome thrice-weekly dialysis sessions force many patients, against their own choosing, into unemployment, disability, and dependency. AAKP believes dialysis-related unemployment, and the associated costs borne by families and taxpayers, is one of the media’s least-reported stories in legacy kidney care. AAKP’s policy agenda focuses on transplant readiness, more opportunities for organ transplants, more flexible, patient-centered home dialysis solutions, and stronger job protections for both kidney patients and living organ donors.
AAKP President Edward V. Hickey, III, a chronic kidney disease patient, stated, “AAKP strongly endorses the American Procurement Improvement Act (APIA) and expresses our deepest gratitude to Representatives Steny Hoyer and Peter Sessions for their bipartisan leadership and commitment to Americans managing disabilities and their efforts to secure meaningful employment opportunities with solid wages. People impacted by disability and chronic diseases face tremendous hurdles to continued employment and return to the workforce – especially America’s proud Veterans. This legislation reflects consensus language among stakeholders, including advocates, employers, and organized labor, and sends a very positive message, amid national economic concerns, that the voices and needs of disabled Americans and their families are heard and not forgotten by the U.S. Congress. We encourage Congress to step up and pass this legislation before the close of the year.” Hickey is a U.S. Marine Corps Veteran, a former senior congressional aide, and has served in appointed roles in two presidential administrations, including the U.S. Department of Commerce (DOC) and the U.S. Office of Personnel Management (OPM). At OPM, he was heavily involved in policy issues related to federal Veterans preference in civil service hiring and expanded federal job opportunities. He currently serves on the American Board of Internal Medicine’s (ABIM) Nephrology Specialty Board and as the Chair of the AAKP Veterans Health Initiative, the largest kidney health outreach program outside of the U.S. Department of Veterans Affairs.
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AAKP Vice President and Chair of Policy and Global Affairs Paul T. Conway, a 49-year kidney patient and 29-year transplant recipient, stated, “The AbilityOne program has supported private sector employment for people managing disabilities and chronic diseases for nearly ninety years and reflects the exceptional American values of self-reliance and independence. Representatives Steny Hoyer and Pete Sessions have consistently shown respect for the creativity, talents, and skills of disabled citizens and have dedicated their public careers to expanding job opportunities in the workforce and across the federal supply chain. The American Procurement Improvement Act increases accountability for taxpayer funds and will result in more well-paying jobs for Americans whose desire and capacity to work and contribute are underappreciated.” Conway is a former Chief of Staff for both the U.S. Department of Labor and the U.S. Office of Personnel Management and a former Deputy Secretary for Health and Human Resources for the Commonwealth of Virginia. He has overseen multiple federal and state disability employment, workforce training, and health service programs throughout his public career. He is the past Chair of the U.S. Food and Drug Administration’s Patient Engagement Advisory Committee (PEAC) and serves on the Observational Study Monitoring Board of the Kidney Precision Medicine Program (KPMP) administered by the National Institutes of Health, National Institute of Diabetes, Digestive and Kidney Diseases (NIH/NIDDK).
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Follow AAKP on social media at @kidneypatient on Facebook, @kidneypatients on X, and @kidneypatients on Instagram, and visit https://aakp.org/ for more information. AAKP patient advocates advance bipartisan kidney policy including: passage of the bipartisan law modernizing the Organ Procurement and Transplantation Network (OPTN) (2023); lifetime transplant drug coverage for kidney patients (2020); the historic Executive Order on Advancing American Kidney Health signed by President Donald Trump (2019); job protections for living organ donors under the Family Medical Leave Act (FMLA) via the U.S. Department of Labor (2018); and Congressional approval of HIV positive organ transplants for HIV positive patients (2013).
MEDIA CONTACT:
Brendan LaCivita
National and Medical Media Specialist
blacivita@aakp.org
(813) 906-7740
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SOURCE American Association of Kidney Patients
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To learn more, visit www.biovid.com/mimetics.
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Visit www.biovid.com.
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szerilli@biovid.com | 267.201.4008
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About Egan-Jones Ratings
Egan-Jones, an NRSRO founded in 1995, offers timely and accurate credit ratings and proxy services.
Media Contact:
sales@egan-jones.com
+1 212 425 0460
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Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
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