Net revenue from foreign exchange trading activities on Cboe Global Markets platforms increased by 8% year-on-year during the first quarter of 2023, the US stock exchange operator revealed Friday in its latest financial performance report. Cboe said the increase was primarily a result of higher net transaction fees.
in the reportCboe noted that the average daily notional value (ADNV) of trades made on the Cboe FX platform during the period also increased by 7% to $45 billion compared to the first quarter of 2022. The ADNV shows the average total value of trades executed on the daily basis during the quarter.
The rise in revenue came as Cboe FX, the company’s institutional place for forex trading, set multiple volume records during the quarter, including quarterly average daily forex trading volume (ADV) of $43.9 billion. ADV has a 7.2% profit on daily performance as of the first quarter of 2022.
In addition, Cboe FX ended March 2023 as its second best month with $1.1 trillion in forex trading volume at that time. Volume only tracks the $1.2 trillion in trading space that was created in March 2020 when volatility peaked to a record high as a result of the COVID-19 pandemic.
Cboe FX Quarterly Record
Meanwhile, in its latest report, Cboe Global Markets notes that Cboe FX’s market share rose to 19% during the quarter, surpassing the previous record of 17.3% from Q1 2022. This sets a “quarterly record for Cboe FX,” Chicago. “The record has been driven by increased client adoption of our diverse range of forex order types and trading protocols,” the based company said, adding that “the record has been driven by increased client adoption of our diverse range of forex order types and trading protocols.”
Cboe reports mixed performance from other business lines
In contrast to the single-digit growth in net revenue from global forex activities, Cboe’s net revenue from all its business lines jumped to a quarterly record of $471.4 million, up 13% from the same period a year earlier. The US exchange attributed the growth to increased net revenue from its derivatives markets and data and access solutions businesses. The growth came despite the decline in the company’s net cash and spot revenues during the period.
Further, on a business-by-business basis, Cboe posted mixed performance in terms of revenue from its Options, Equities and Futures segments. While the company’s net revenue from options jumped 28% to $61.5 million versus the first quarter of 2022, the North American equity business returned to flat net revenue over the same period. In fact, the company said its net revenue from its equity business in Europe and Asia Pacific fell 14% “reflecting slowing industry volumes and continued currency headwinds.”
In addition, Cboe’s futures net revenue decreased by $0.1 million to $31.1 million compared to the first quarter of last year. This was “due to a decline in net transaction and clearing fees, largely offset by an increase in access and capacity fees,” the company said.
Net revenue from foreign exchange trading activities on Cboe Global Markets platforms increased by 8% year-on-year during the first quarter of 2023, the US stock exchange operator revealed Friday in its latest financial performance report. Cboe said the increase was primarily a result of higher net transaction fees.
in the reportCboe noted that the average daily notional value (ADNV) of trades made on the Cboe FX platform during the period also increased by 7% to $45 billion compared to the first quarter of 2022. The ADNV shows the average total value of trades executed on the daily basis during the quarter.
The rise in revenue came as Cboe FX, the company’s institutional forex venue, set multiple volume records during the quarter, including quarterly average daily forex trading volume of $43.9 billion. ADV has a 7.2% profit on daily performance as of the first quarter of 2022.
In addition, Cboe FX ended March 2023 as its second best month with $1.1 trillion in forex trading volume at that time. Volume only tracks the $1.2 trillion in trading space that was created in March 2020 when volatility peaked to a record high as a result of the COVID-19 pandemic.
Cboe FX Quarterly Record
Meanwhile, in its latest report, Cboe Global Markets notes that Cboe FX’s market share rose to 19% during the quarter, surpassing the previous record of 17.3% from Q1 2022. This sets a “quarterly record for Cboe FX,” Chicago. “The record has been driven by increased client adoption of our diverse range of forex order types and trading protocols,” the based company said, adding that “the record has been driven by increased client adoption of our diverse range of forex order types and trading protocols.”
Cboe reports mixed performance from other business lines
In contrast to the single-digit growth in net revenue from global forex activities, Cboe’s net revenue from all its business lines jumped to a quarterly record of $471.4 million, up 13% from the same period a year earlier. The US exchange attributed the growth to increased net revenue from its derivatives markets and data and access solutions businesses. The growth came despite the decline in the company’s net cash and spot revenues during the period.
Further, on a business-by-business basis, Cboe posted mixed performance in terms of revenue from its Options, Equities and Futures segments. While the company’s net revenue from options jumped 28% to $61.5 million versus the first quarter of 2022, the North American equity business returned to flat net revenue over the same period. In fact, the company said its net revenue from its equity business in Europe and Asia Pacific fell 14% “reflecting slowing industry volumes and continued currency headwinds.”
In addition, Cboe’s futures net revenue decreased by $0.1 million to $31.1 million compared to the first quarter of last year. This is “due to a decline in net transaction and clearing fees, largely offset by an increase in access and capacity fees,” the company said.