Cboe FX Reports Weaker Volumes for June 2019

Cboe Global Markets, Inc. (Cboe: CBOE | NASDAQ: CBOE) has just reported ‎its trading volumes for the month ending June 2019, which saw a ‎mixed performance in key business segments.‎

During June 2019, Cboe disclosed a total trading volume for options contracts at 142 million, down four percent year-on-year from 148 million contracts back in June 2018. This corresponded to an average daily volume (ADV) of 7.09 million contracts per day, which was almost unchanged year-on-year from 6.05 million contracts per day in the same month a year earlier.

Additionally, the figures illustrated a similar pattern at the Cboe over a monthly interval, which in terms of total ADV volumes during June 2019 marked a drop of 12 percent month-on-month from 8.11 million contracts in May 2019.

Across its futures business, Cboe Global’s total volumes came in at 4.12 million contracts in June 2019, decreasing by 27 percent over a yearly basis from 5.66 million contracts a year back. The figure also marks a drop by -45 percent month-on-month when compared with 7.5 million in May 2019. The exchange yielded an average daily volume (ADV) of 207,000 contracts per day, which was lower by nearly 40 percent from 342,000 contracts in the previous month.

Cboe’s institutional spot FX platform saw its average daily trading volumes amounting to $33.08 billion in June 2019, virtually unchanged month-over-month from $33.05 billion in May 2018. However, this figure is lower by 12 percent over a yearly basis when compared with $37.8 billion in the previous year.

Looking at its total volumes, Cboe FX inked a figure of  $661 billion in June 2019, down 13 percent on a month-over-month basis from ‎$760 ‎billion in May 2019‎. In a similar pattern, the figure was even lower by 17 percent year-over-year when weighed against $793 billion in June 2018.

June had been a less active month compared to May, but overall volatility is still benefiting from rising geopolitical tensions, concerns about US-led trade wars with several countries, and the prospect a global economic growth boom nearing its peak. Key currency pairs have departed its wait-and-see mode seen in the first quarter where they were stuck in narrow price ranges.

(Photo: Jiefei Liu/MEDILL)

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