Exchanges from around the world announced their trading volumes for September 2015 

Exchanges from Russia, Germany and USA have issued press releases to inform investors regarding their trading volumes results for September 2015.

Moscow Exchange
Moscow Exchange Trading Volumes in September 2015

The Derivatives Market and FX Market posted the strongest growth, with volumes increasing 102.5% and 84.7% YoY, respectively.

Equity & Bond Market

Secondary market turnover in stocks, RDRs and investment fund units was RUB 735.4 bln. (September 2014: RUB 762.9 bln). The average daily turnover was RUB 33.4 bln (September 2014: RUB 34.7 bln).

Secondary corporate, regional and sovereign bond turnover was RUB 711.9 bln (September 2014: RUB 635.6 bln). The average daily turnover was RUB 32.4 bln (September 2014: RUB 28.9 bln).

A total of 22 new bond issues with a combined value of RUB 193.8 bln were placed in September.

Derivatives Market

Derivatives Market volumes rose 102.5% YoY to RUB 10.7 trln (September 2014: RUB 5.3 trln), or 173.2 mln contracts (September 2014: 125.3 mln contracts), of which 168.6 mln contracts were futures and 4.6 mln contracts were options.

Open interest at the end of the month was RUB 481.7 bln (September 2014: RUB 455.6 bln).

FX Market

FX Market turnover grew 84.7% to RUB 34.6 trln (September 2014: RUB 18.7 trln), including spot trades of RUB 10.5 trln and swap trades of RUB 24.0 trln.

The FX Market’s average daily turnover was RUB 1,570.6 bln (USD 23.5 bln) compared to RUB 850.3 bln in September 2014.

Money Market

Money Market turnover totalled RUB 17.9 trln (September 2014: RUB 18.3 trln). The average daily turnover was RUB 813.3 bln (September 2014: RUB 830.5 bln).

The volume of repo transactions with the CCP was RUB 7.4 trln (September 2014: RUB 2.8 trln), with the average daily turnover increasing by 160% YoY to RUB 334.3 bln.

Precious Metals Market

Trading volumes on the Precious Metals Market increased 5.1 times to RUB 10.6 bln YoY. Turnover was RUB 10.6 bln (4.4 t) for gold and RUB 1.6 mln (49.2 kg) for silver.

Xetra/Börse Frankfurt
Turnover at Deutsche Börse’s cash markets at 142.3 billion euros in September

Order book turnover on Xetra, Börse Frankfurt and Tradegate Exchange across all asset classes stood at €142.3 billion in September (September 2014: €100.9 billion).

Of the €142.3 billion, €133.9 billion were attributable to Xetra (September 2014: €93.4 billion). The average daily turnover on Xetra stood at €6.1 billion in September (September 2014: €4.2 billion). A turnover of €3.3 billion was attributable to Börse Frankfurt (September 2014: €3.8 billion). Order book turnover on Tradegate Exchange* totalled approximately €5.1 billion in September (September 2014: €3.7 billion).

Broken down by asset classes, cash market turnover in equities reached about €126.1 billion. Turnover in ETFs/ETCs/ETNs amounted to €14.3 billion. Turnover in bonds was €0.6 billion, and in structured products €1.2 billion. The electronic trading platform Eurex Bonds traded €7.3 billion (single counting, mainly government bonds) in September (September 2014: €5.0 billion).

Viewed by transactions, a total of 24.0 million trades were executed on Xetra in September (September 2014: 15.4 million).

The DAX security with the highest turnover on Xetra in September was Volkswagen AG Vz at €10.6 billion. Vonovia SE led the MDAX equities with €1.4 billion up to 18 September (since 21 September member of the DAX index), while Ströer SE topped the SDAX equity index with €197.5 million, and Dialog Semiconductor plc headed TecDAX with €791.6 million. The ETF with the highest turnover on Xetra was iShares Core DAX UCITS ETF with €1.4 billion.

Eurex Exchange
ADV 7.5 million contracts, 16 percent growth year-on-year/ ISE: ADV 2.4 million contracts

In September 2015, the international derivatives markets of Eurex, part of Deutsche Börse Group, recorded an average daily volume of 9.9 million contracts (September 2014: 9.1 million). Of those, 7.5 million were Eurex Exchange contracts (September 2014: 6.5 million), and 2.4 million contracts (September 2014: 2.6 million) were traded at the New York based International Securities Exchange (ISE). The volume traded on the spot and derivatives power markets of the European Energy Exchange (EEX) amounted to 268.8 terawatt hours (September 2014: 184.2 TWh). Eurex Repo recorded in all markets in September 2015 an average outstanding volume of 147.0 billion euros.

Eurex Exchange
At Eurex Exchange, the equity index derivatives segment totaled 90.6 million contracts (September 2014: 68.0 million). The single largest contract was the future on the EURO STOXX 50® Index with 40.5 million contracts; and the options on this blue chip index totaled 31.5 million contracts. Futures on the DAX index recorded 2.9 million contracts while the DAX options reached another 3.8 million contracts. The Eurex KOSPI Product recorded 2.3 million contracts. The equity derivatives (equity options and single stock futures) segment at Eurex Exchange reached 23.7 million contracts (September 2014: 22.4 million).
Thereof, equity options totaled 17.2 million contracts and single stock futures
equaled 6.5 million contracts.

The interest rate derivatives segment totaled 48.8 million contracts (September 2014: 50.6 million). The Euro-Bund-Future reached 17.2 million contracts, the Euro-Bobl-Future 12.1 million contracts and the Euro-Schatz-Future 8.0 million contracts. The three Euro-BTP-Futures totaled around 2.9 million contracts. The two Euro-OAT-Futures recorded around 2.1 million contracts. The Eurex Exchange segment dividend-based derivatives recorded 955,000 contracts (increase of 35 percent y-o-y). Volatility derivatives totaled 1.1 million contracts (increase of 18 percent y-o-y).

European Energy Exchange
The volume traded on the spot and derivatives power markets of EEX Group amounted to 268.8 terawatt hours (TWh)* in September 2015 (September 2014: 184.2 TWh). On the natural gas spot and derivatives markets the volume amounted to 72.1 TWh (September 2014: 54.8 TWh). In September, a volume of 73.0 million tonnes of CO2 was traded on the spot and derivatives market for CO2 emission allowances (September 2014: 44.9 million tonnes of CO2). Furthermore 1,424 contracts were traded in the EEX agricultural products. On the freight segment, 42,951 contracts were traded (September 2014: 38,470 contracts) and 21.2 million tonnes were traded in iron ore (September 2014: 13.5 million tonnes).
*Markets of EPEX SPOT (incl. APX-Belpex) and EEX

Eurex Repo
Eurex Repo, which operates Euro Repo and GC Pooling markets, recorded in all markets in September 2015 an average outstanding volume of 147.0 billion euros (September 2014: 211.4 billion euros). This negative development was mainly due to the QE policy of the European Central Bank. The secured money market GC Pooling recorded an average outstanding volume of 121.3 billion euros (September 2014: 169.4 billion euros). The Euro Repo market reached an average outstanding volume of 25.7 billion euros compared with 42.0 billion euros in September 2014.

ISE Holdings
ISE Holdings Reports Business Activity for September 2015

• ISE and ISE Gemini combined represent 16.0% of equity options market share, excluding dividend trades.
• ISE and ISE Gemini reported a combined ADV of 2.4 million contracts.
• Dividend trades made up 0.2% of industry volume in September 2015.

CBOE Holdings, Inc.
CBOE Holdings Reports September 2015 Trading Volume

Total trading volume in September for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options Exchange (C2) and futures contracts on CBOE Futures Exchange (CFE®) was 104.0 million contracts, a decrease of 5 percent from September 2014 and 17 percent from August 2015.

Total options and futures average daily volume (ADV) at CBOE Holdings for September was 5.0 million contracts, a decrease of 5 percent from September 2014 and 17 percent from August 2015.

CBOE Trading Volume and Market Share

CBOE Volume: September

• CBOE’s ADV for the month was 4.4 million contracts, a decrease of 5 percent from September 2014 and 17 percent from August 2015. Trading volume totaled 92.6 million contracts, a decrease of 5 percent from a year ago and 17 percent from August 2015.
• September ADV in index options increased 36 percent, while exchange-traded product (ETP) options decreased 7 percent and equity options decreased 36 percent versus September 2014. When compared to August 2015, ADV in index options, equity options and ETP options decreased 19 percent, 17 percent and 13 percent, respectively.

CBOE Market Share: September

• CBOE’s market share of total U.S. options industry volume was 26.1 percent in September, a decrease of 0.6 percentage points from September 2014 and unchanged from August 2015.

C2 Trading Volume and Market Share

C2 Volume: September

• C2’s September trading volume totaled 6.2 million contracts, a decrease of 19 percent from September 2014 and 21 percent from August 2015. ADV was 293,704 contracts, a decrease of 19 percent from September 2014 and 21 percent from August 2015.

C2 Market Share: September

• C2 market share of total industry volume in September was 1.7 percent, a decrease of 0.4 percentage points from September 2014 and 0.1 of a percentage point from August 2015.

BOE Futures Exchange (CFE) Trading Volume

CFE Volume: September

• Total ADV at CFE was 251,376 contracts in September, an increase of 40 percent from September 2014 and a decrease of 18 percent from August 2015. Total volume at CFE for the month was 5.3 million contracts, up 40 percent from the year-ago total and down 18 percent from August 2015.
• Total volume in CBOE Volatility Index® (VIX® Index) futures for September was 5.3 million contracts, up 41 percent from September 2014, but down 17 percent from August 2015. September VIX futures’ ADV was 251,207 contracts.

CBOE Holdings Average Revenue Per Contract

The following represents average revenue per contract based on a three-month rolling average, reported on a one-month lag. The average revenue per contract represents total transaction fees for CBOE, C2, and CFE recognized for the period divided by total contracts traded during the period. Average transaction fees per contract can be affected by various factors, including exchange fee rates, volume-based discounts and transaction mix by contract type and product type.

Source: Moscow Exchange, Deutsche Börse, Eurex Exchange, ISE Holdings, CBOE Holdings

 

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