Cboe FX Reports Record Spot FX ADV in Q1 2023

by Damian Chmiel
  • The quarterly Global FX ADV rose 7.2% compared to Q1 2022.
  • Also, Cboe achieved record metrics in options, equities and derivatives markets.
cboe

Cboe Global Markets, Inc. (BATS:CBOE), a major global market infrastructure and tradable products provider, has announced its March monthly trading volume statistics across various business lines. Cboe FX was able to set new volume records in the first quarter of 2023, including spot FX average daily volume (ADV) of $43.9 billion.

Cboe Reports Higher Statistics in March 2023

Cboe's four options exchanges achieved a new monthly high of 337.2 million contracts in March and set a new daily high of 22.5 million contracts on 10 March 2023. S&P 500 Index options experienced multiple new volume records for the month and quarter, including a new quarterly ADV record of 2.8 million contracts and a new monthly total volume record of 66.1 million contracts. Nanos options reached their highest monthly ADV, with 4,100 contracts traded per day in March.

In the meantime, the Cboe European Derivatives Exchange (CEDX) traded 6,574 contracts in the last month, surpassing the previous record of 3,824 contracts in January 2023. Cboe Clear Europe, the company's pan-European clearing house , cleared a record eight million trades on Euronext's stock exchanges in Amsterdam, Brussels, Paris, Lisbon, and Milan under the preferred clearing model.

Average Daily Trading Volume (ADV) by Month. Source: Cboe
Average Daily Trading Volume (ADV) by Month. Source: Cboe

Cboe FX Sets Multiple Volume Records

Cboe FX, Cboe's institutional venue for spot foreign exchange trading, achieved multiple volume records for the previous quarter, including spot FX quarterly ADV of $43.9 billion, spot full amount quarterly ADV of $13.9 billion, and Non-Deliverable Forwards (NDF) quarterly ADV of $1.1 billion.

The performance turned out to be better on a monthly basis and on a quarterly basis. Compared to March 2022, ADV for FX grew by 9.1%, and compared to last month by 15.3%. Looking at the quarter as a whole, Q1 2023 was 7.2% better than Q1 2022.

A week ago, Cboe FX reported that it ended the month with $1.1 trillion in total forex trading volume, the platform's second-best monthly figure. The March figure trails only Cboe's previously reported all-time high of $1.2 trillion in March 2020, when market activities surged due to COVID-induced volatility . This latest figure marks the fourth time in Cboe FX's operational history that the total market volume has exceeded the $1 trillion milestone.

Cboe Sees Uptick in FX Revenue

According to Cboe's latest financial metrics, the global FX brought in $16.9 million of $457.1 million in net revenue in the fourth quarter of 2022. The figure for the entire year came in at $1.7 billion, which is an increase of 18%.

Furthermore, Cboe FX's market share rose to 18.4% in the final quarter of 2022, which is up from 16.8% during the same period in the previous year. The company attributes this growth to the ongoing adoption of its wide range of FX order types and trading protocols.

Two weeks ago, Cboe Australia confirmed that operations under Cboe BIDS Australia (BIDS) would go live on 27 March 2023 after meeting final regulatory requirements as well as other conditions. In the meantime, the company has launched a Cboe One Options Feed, a single market data feed, providing a comprehensive and real-time view of options pricing.

FCA Stops WealthTek and RoboForex Increases Partner Commissions. Read today’s news nuggets!

Cboe Global Markets, Inc. (BATS:CBOE), a major global market infrastructure and tradable products provider, has announced its March monthly trading volume statistics across various business lines. Cboe FX was able to set new volume records in the first quarter of 2023, including spot FX average daily volume (ADV) of $43.9 billion.

Cboe Reports Higher Statistics in March 2023

Cboe's four options exchanges achieved a new monthly high of 337.2 million contracts in March and set a new daily high of 22.5 million contracts on 10 March 2023. S&P 500 Index options experienced multiple new volume records for the month and quarter, including a new quarterly ADV record of 2.8 million contracts and a new monthly total volume record of 66.1 million contracts. Nanos options reached their highest monthly ADV, with 4,100 contracts traded per day in March.

In the meantime, the Cboe European Derivatives Exchange (CEDX) traded 6,574 contracts in the last month, surpassing the previous record of 3,824 contracts in January 2023. Cboe Clear Europe, the company's pan-European clearing house , cleared a record eight million trades on Euronext's stock exchanges in Amsterdam, Brussels, Paris, Lisbon, and Milan under the preferred clearing model.

Average Daily Trading Volume (ADV) by Month. Source: Cboe
Average Daily Trading Volume (ADV) by Month. Source: Cboe

Cboe FX Sets Multiple Volume Records

Cboe FX, Cboe's institutional venue for spot foreign exchange trading, achieved multiple volume records for the previous quarter, including spot FX quarterly ADV of $43.9 billion, spot full amount quarterly ADV of $13.9 billion, and Non-Deliverable Forwards (NDF) quarterly ADV of $1.1 billion.

The performance turned out to be better on a monthly basis and on a quarterly basis. Compared to March 2022, ADV for FX grew by 9.1%, and compared to last month by 15.3%. Looking at the quarter as a whole, Q1 2023 was 7.2% better than Q1 2022.

A week ago, Cboe FX reported that it ended the month with $1.1 trillion in total forex trading volume, the platform's second-best monthly figure. The March figure trails only Cboe's previously reported all-time high of $1.2 trillion in March 2020, when market activities surged due to COVID-induced volatility . This latest figure marks the fourth time in Cboe FX's operational history that the total market volume has exceeded the $1 trillion milestone.

Cboe Sees Uptick in FX Revenue

According to Cboe's latest financial metrics, the global FX brought in $16.9 million of $457.1 million in net revenue in the fourth quarter of 2022. The figure for the entire year came in at $1.7 billion, which is an increase of 18%.

Furthermore, Cboe FX's market share rose to 18.4% in the final quarter of 2022, which is up from 16.8% during the same period in the previous year. The company attributes this growth to the ongoing adoption of its wide range of FX order types and trading protocols.

Two weeks ago, Cboe Australia confirmed that operations under Cboe BIDS Australia (BIDS) would go live on 27 March 2023 after meeting final regulatory requirements as well as other conditions. In the meantime, the company has launched a Cboe One Options Feed, a single market data feed, providing a comprehensive and real-time view of options pricing.

FCA Stops WealthTek and RoboForex Increases Partner Commissions. Read today’s news nuggets!

About the Author: Damian Chmiel
Damian Chmiel
  • 1369 Articles
  • 28 Followers
About the Author: Damian Chmiel
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
  • 1369 Articles
  • 28 Followers

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