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Cboe Global Markets' November Average Daily Volume Dips

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Cboe Global Markets, Inc. (CBOE - Free Report) recently announced that the average daily volume (ADV) for November dipped 0.6% year over year to 7.7 million contracts. The month had 21 trading days in total.

Total contracts for November were 161.6 million, declining 0.6% year over year. Of this, options contracts decreased 1.1% to 155.3 million while futures contracts improved 11.6% to 6.3 million. Options ADV was 7.4 million and Futures ADV was 0.3 million.

CBOE Global Markets has been witnessing a rise in trading volumes over a considerable period of time, largely supported by increasing transaction fees and in turn, boosting revenue growth.

We believe this Zacks Rank #3 (Hold) options exchange will be able to retain the revenue momentum in the coming quarters, backed by a strong market position, global reach, prudent acquisitions and a robust portfolio of proprietary products. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.  

Subsequently, ADV of the U.S. Equities Matched came in at 1.2 billion shares in November, down 23.4% from the year-ago month. While the European Equities Matched reflected a decline of 8.4% year over year to €9.7 billion. Interestingly, the Global FX Matched climbed 11.8% to nearly $34 billion.

Shares of CBOE Global Markets have significantly outperformed the industry, year to date. The stock has surged 67.5% compared with the industry’s increase of 31.3%. We expect both bottom- and top-line improvement along with diversified product portfolio and expansion moves to fuel growth as well as drive shares higher.



Recently, securities exchanges CME Group Inc. (CME - Free Report) , Intercontinental Exchange, Inc. (ICE - Free Report) and MarketAxess Holdings Ltd. (MKTX - Free Report) have also reported their respective November volumes. While Intercontinental Exchange’s average daily volume declined 6.2% to 5.4 million contracts, MarketAxess has reported a trading volume of $125.3 billion this month. Plus, CME Group’s contracts per day averaged at 18 million, down 14% year over year.

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