Cboe Global Markets, Inc. CBOE reported average daily volume (ADV) for February 2020. Total ADV of 11.4 million contracts increased 64.6% year over year, driven by solid performance across Options and Futures. Though U.S. Equities and global forex witnessed increase, European Equities declined. ADV increased 20.8% from January 2020.
Total contracts for the month were 216.7 million, having increased nearly 64.4% year over year. Of this, options contracts increased about 64% to 209.5 million while futures surged 88% to 7.2 million. Options ADV was 11 million whereas Futures ADV was 0.4 million.
Subsequently, total volumes of the U.S. Equities Matched came in at 28.5 billion shares, up 30.4% year over year. Moreover, European Equities Matched reflected a 7.8% deterioration year over year to €174 billion whereas Global FX Matched was up 19.5% to $825 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 Zacks Rank #3 (Hold) derivatives 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 toward building a strategic 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’s time. The stock has rallied 25.1% compared with the industry’s increase of 33.5%.
Recently, securities exchanges, namely CME Group Inc. CME , Intercontinental Exchange Incorporation ICE and MarketAxess Holdings Ltd. MKTX also reported respective volumes. CME Group recorded an ADV of 30.1 million contracts during the month, up 58% year over year.
Intercontinental Exchange’s futures & options ADV was 7.6 million, up 39% year over year. MarketAxess’ monthly trading volume came in at $592.1 billion, consisting of $190.0 billion in credit volume and $402.1 billion in rates volume.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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