Cboe Global FX Volumes Slump in July, Options & Futures Rise

Trading volumes for Global FX fell on both a monthly and yearly comparison.

Cboe, the largest options exchange in the United States, has published its trading volumes for July. Despite an uptick in the number of futures and options contracts traded, global foreign exchange (forex) volumes fell by double digits.

For July, the total notional value for global forex was $632.6 billion. When measuring this against the same month of the previous year, which reported a total notional value of $729.8 billion, last month’s figure has fallen by 13.3 percent.

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On a month-on-month comparison, July of 2019’s figure still doesn’t hold up, as June of this year had a total notional value of $661.6 billion for global FX. Therefore, last month’s figure is also down by 4.4 percent month-on-month.

Year-to-date, the situation doesn’t look much better. For Global FX, the total notional value until the end of July was $5.05 trillion. Against the same time period in 2018, 2019’s value has dropped by 14.3 percent.

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Taking a look at the average daily notional value (ADNV) for Global FX, the picture is just as bleak. In July the total ADNV was $27.5 billion, which is 17.1 percent lower year-on-year. It is also down 16.9 percent against June of 2019.

Cboe sees uptick in futures and options trading

Despite Cboe reporting weak results for its Global FX business, trading volumes for options performed quite well during the month. For July, the total trading volume for options was 148,264,000 contracts.

This monthly trading volume has grown by 10.4 percent from the 134,286,000 contracts traded during July of 2018. It is also higher by 4.4 percent from the previous month’s trading volume of 141,989,000 contracts.

Moving on to futures, Cboe also managed to report solid trading volumes. In fact, the number of contracts traded increased by 11.8 percent year-on-year and 25.6 percent from the previous month.

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