Flat Trading Volumes at TMX Group in June Mask Decrease YoY

Montreal Exchange hit a new monthly volume record for options, surpassing 10 million derivatives contracts.

TMX Group Limited, operator of the Toronto Stock Exchange and another four marketplaces – TSX Venture Exchange, TMX Select, Alpha, Montreal Exchange (MX) and NGX – has reported its aggregated trading metrics for June 2017, which were again firmly entrenched in the year-over-year downtrend seen since the beginning of the year.

During the month of June 2017, TMX and all of its marketplaces reported an average daily volume (ADV) ‎of 542.9 million contracts, which represents a slight move higher over a monthly timeframe, as volumes rose 0.2 percent month-on-month from 541.8 million back in May 2017. However, the latest figures constitute a loss of 13.8 percent year-on-year in terms of volumes from 630.0 million in June 2016.

In money terms, the total trading value of contracts for June averaged $7.1 billion per day, marginally higher month-over-month from $7.0 billion for May 2017. Compared to last year’s figures however, the ADV cash value in June 2017 reflected a strong advance compared to the same month of 2016, netting a 5.97 percent year-over-year increase from $6.7 billion a year earlier.

TMX Group further stated that in June 2017, the Montreal Exchange hit a new monthly volume record for options, surpassing 10 million derivatives contracts traded for the first time in history. MX also reached a new open interest record for the Three-Month Canadian Bankers’ Acceptance Futures (BAX), which reached 1,128,968 contracts on June 13, 2017, and the S&P/TSX 60 Index Standard Futures (SXF), which recorded 390,831 contracts on the day prior.

Across the year-to-date (YTD) interval, the total turnover through June 2017 came in at $890.2 billion, a gain of 11.2 percent from $800.3 billion in the same half-year period a year ago.

TMX Group and its subsidiaries operate both cash and derivative markets and clearinghouses across multiple asset classes, including equities, fixed income and energy, among others.

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