CHICAGO, April 3, 2024 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today reported March 2024 trading volume statistics across its global business lines and provided guidance for selected revenue per contract/net revenue capture metrics for the first quarter of 2024.

The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of certain March 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

	Mar 2024	Mar 2023	% Chg	Feb 2024	% Chg	Mar 2024	Mar 2023	% Chg
Multiply-listed options (contracts, k)	10,570	10,795	-2.1 %	11,114	-4.9 %	10,744	11,062	-2.9 %
Index options (contracts, k)	4,057	3,867	4.9 %	4,090	-0.8 %	4,089	3,595	13.7 %
Futures (contracts, k)	217.1	269	-19.2 %	213	1.8 %	220	232	-5.1 %
U.S. Equities - On-Exchange (matched shares, mn)	1,464	1,629	-10.1 %	1,528	-4.2 %	1,510	1,501	0.6 %
U.S. Equities - Off-Exchange (matched shares, mn)	75	89	-16.1 %	86	-13.2 %	77	89	-13.8 %
Canadian Equities (matched shares, k)	159,704	146,362	9.1 %	143,922	11.0 %	146,253	150,812	-3.0 %
European Equities (€, mn)	10,248	12,301	-16.7 %	10,093	1.5 %	9,918	11,383	-12.9 %
Cboe Clear Europe Cleared Trades¹ (k)	96,734	133,217	-27.4 %	98,689	-2.0 %	294,326	359,418	-18.1 %
Cboe Clear Europe Net Settlements¹ (k)	828	970	-14.7 %	825	0.3 %	2,525	2,662	-5.2 %
Australian Equities (AUD, mn)	814	805	1.2 %	809	0.6 %	765	755	1.4 %
Japanese Equities (JPY, bn)	357	189	89.3 %	316	13.2 %	316	183	72.4 %
Global FX ADNV ($, mn)	47,346	49,560	-4.5 %	43,628	8.5 %	45,256	44,992	0.6 %

¹ 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.

March and First Quarter 2024 Trading Volume Highlights

US Options and Futures

A record-setting block trade in Cboe iBoxx iShares $ High Yield Corporate Bond Index (IBHY) Futures, representing $75 million in notional value, was executed on March 22^nd

Cboe Japan

Cboe Japan achieved a new monthly lit market share record of 5.3%, surpassing its last record set in February 2023.

First-Quarter 2024 RPC/Net Revenue Capture Guidance

The projected RPC/net capture metrics for the first quarter of 2024 are estimated, preliminary and may change. There can be no assurance that our final RPC for the three months ended March 31, 2024, will not differ materially from these projections.

(In USD unless stated otherwise)		Three-Months Ended
Product:	1Q Projection	Feb-24	Jan-24	Dec-23
Multiply-Listed Options (per contract)	$0.066	$0.065	$0.061	$0.060
Index Options	$0.914	$0.919	$0.916	$0.908
Total Options	$0.299	$0.300	$0.298	$0.297
Futures (per contract)	$1.749	$1.743	$1.739	$1.729
U.S. Equities - Exchange (per 100 touched shares)	$0.019	$0.011	$0.011	$0.013
U.S. Equities - Off-Exchange (per 100 touched shares)	$0.141	$0.144	$0.143	$0.143
Canadian Equities (per 10,000 touched shares)	CAD 4.016	CAD 4.014	CAD 3.964	CAD 3.905
European Equities (per matched notional value)	0.247	0.247	0.241	0.233
Australian Equities (per matched notional value)	0.151	0.149	0.154	0.157
Japanese Equities (per matched notional value)	0.227	0.278	0.266	0.252
Global FX (per one million dollars traded)	$2.689	$2.610	$2.600	$2.603
Cboe Clear Europe Fee per Trade Cleared	€ 0.008	€ 0.008	€ 0.009	€ 0.010
Cboe Clear Europe Net Fee per Settlement	€ 1.100	€ 1.020	€ 0.954	€ 0.899

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 MATCHNow and the number of trading days for the period and includes revenue from NEO (now operating as Cboe Canada).
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, FX, and digital assets, 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.

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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.

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SOURCE Cboe Global Markets, Inc.

Cboe Global Markets Reports Trading Volume for March 2024