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Cboe Global Markets (CBOE) Gains on Record February Volumes


Shares of Cboe Global Markets, Inc. CBOE gained 2.4% in the last trading session after it reported a sturdy average daily volume (ADV) for February 2018. Total ADV of 10.6 million contracts improved nearly 45% year over year.

Total contracts for 2017 were 202.3 million, having increased 45% year over year. Of this, both options and futures contracts rose 43.1% to 193.1 million and 9.1 million, respectively. While Options ADV was 10.2 million, Futures ADV was 0.5 million.

Subsequently, ADV of the U.S. Equities Matched came in at 1.7 million shares last month, up 29.7% year over year whereas the European Equities Matched expanded 16.4% year over year to €11.7 billion. The Global FX Matched soared 63.9% to nearly $44.2 billion.

The company announced that while VIX futures, VIX options and SPX options have posted record volumes in February, Cboe Options Exchange, Cboe Futures Exchange, Cboe Periodic Auctions Book and Cboe FX too witnessed record trading.

CBOE Global Markets has been seeing a rise in trading volumes over a considerable period of time, largely supported by a compelling product and service portfolio. This in turn fuels an increase in transaction fees and also boosts revenue growth.

We believe that this Zacks Rank #3 (Hold) options exchange will 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.

Shares of CBOE Global Markets have significantly outperformed the industry in a year. The stock has surged 53.1% compared with the industry’s growth of 32.3%. We expect both bottom and top-line improvements along with a diversified product portfolio and expansion moves to drive growth as well as the shares higher.

Recently, securities exchanges namely CME Group Inc. CME, Intercontinental Exchange, Inc. ICE and MarketAxess Holdings Ltd. MKTX have also reported respective February volumes. CME Group posted a record average daily volume of 27.3 million contracts per day, expanding 48% year over year. Intercontinental Exchange’s average daily volume improved 15.8% year over year to 6.7 million contracts. Finally, MarketAxess has reported a trading volume of $157.8 billion for the month.

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