CHICAGO - Cboe Global Markets, Inc. (NYSE:CBOE:CBOE), a prominent derivatives and securities exchange network, disclosed its trading volume for March 2024, highlighting varied performance across its global business lines. The exchange also offered guidance on revenue per contract and net revenue capture metrics for the first quarter of 2024.
The report indicated a decrease in trading volumes for multiply-listed options, U.S. equities, and futures contracts compared to the previous year. Specifically, multiply-listed options contracts saw a 2.1% decline, while U.S. equities traded on-exchange and futures contracts dropped by 10.1% and 19.2%, respectively.
On a brighter note, index options contracts experienced a 4.9% increase in volume, and Canadian equities matched shares rose by 9.1%. Notably, Japanese equities surged with an 89.3% jump in trading volume, setting a new record for Cboe Japan with a 5.3% monthly lit market share.
A significant transaction was recorded on March 22, with a block trade in Cboe iBoxx iShares $ High Yield Corporate Bond Index (IBHY) Futures representing $75 million in notional value.
For the first quarter of 2024, Cboe projected average revenue per contract (RPC (NYSE:RES)) for multiply-listed options at $0.066 and index options at $0.914. Futures contracts are expected to yield $1.749 per contract. The company cautioned that these preliminary estimates might change and final figures could differ materially.
Cboe's global presence includes equities, derivatives, FX, and digital assets trading solutions across North America, Europe, and Asia Pacific. The company aims to provide a trusted marketplace for sustainable financial futures.
This report is based on a press release statement and contains forward-looking information that involves risks and uncertainties. Cboe has made no recommendations on the benefits of any securities or investments and advises investors to conduct their due diligence.
InvestingPro Insights
Cboe Global Markets, Inc. (CBOE:CBOE) has demonstrated a mixed performance in its recent trading volume report for March 2024, with some areas experiencing declines and others showing growth. To provide additional context to these figures, let's delve into some key metrics and insights from InvestingPro.
InvestingPro Data indicates a P/E Ratio of 25.38, reflecting how the market values the company's earnings. The PEG Ratio stands at a low 0.11, suggesting that Cboe's price is potentially undervalued relative to its earnings growth. However, the Price / Book metric is at 4.8, which could imply a premium compared to the company's book value.
An InvestingPro Tip highlights that Cboe has raised its dividend for 9 consecutive years, showcasing a commitment to returning value to shareholders. This is reinforced by the fact that the company has maintained dividend payments for 15 consecutive years. On the other hand, 4 analysts have revised their earnings downwards for the upcoming period, indicating potential headwinds that investors may want to monitor.
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