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Industry Average Daily Volume by Segment
Shows average daily trading volumes across industry segments, which drive transaction fees for Cboe. Comparing Cboe’s volumes to industry averages reveals market share trends, competitive strength, and how revenue will likely respond to changes in market activity or investor sentiment.
Trading activity has shifted from steady to accelerating since 2024, with a broad-based volume surge across options, equities (North America and Europe), FX and futures—not a one-off product blip. For shareholders that means a multi-asset revenue tailwind, better fixed-cost leverage and clearer runway for market-share gains outside the U.S.; however, some upside may be cyclical from heightened volatility/liquidity, so persistence of elevated ADAVs into 2026+ will determine how much flows through to sustainable earnings.
CBOE Industry Average Daily Volume by Segment
| Date | Options | North American Equities | Europe | Australian Equities | Futures | Global FX |
|---|---|---|---|---|---|---|
| Jun 30, 2026 | 72.80M | 20.20B | 63.40B | 1.00B | 222.70K | 60.60B |
| Mar 31, 2026 | 68.89M | 20.00B | 67.80B | 1.20B | 283.30K | 70.40B |
| Dec 31, 2025 | 66.61M | 18.60B | 49.10B | 1.00B | 239.20K | 53.30B |
| Sep 30, 2025 | 60.80M | 17.60B | 46.10B | 1.00B | 200.70K | 49.90B |
| Jun 30, 2025 | 57.20M | 18.40B | 54.50B | 1.00B | 220.50K | 55.90B |
| Mar 31, 2025 | 58.44M | 15.70B | 55.80B | 800.00M | 249.40K | 51.90B |
| Dec 31, 2024 | 51.63M | 13.60B | 42.40B | 800.00M | 206.40K | 45.60B |
| Sep 30, 2024 | 48.73M | 11.50B | 38.90B | 800.00M | 273.70K | 48.30B |
| Jun 30, 2024 | 46.13M | 11.80B | 42.60B | 800.00M | 253.60K | 47.70B |
| Mar 31, 2024 | 47.45M | 11.80B | 41.80B | 800.00M | 220.00K | 45.30B |
| Dec 31, 2023 | 44.41M | 11.20B | 37.70B | 700.00M | 233.40K | 47.00B |
| Sep 30, 2023 | 43.41M | 10.40B | 34.30B | 700.00M | 230.00K | 44.40B |
| Jun 30, 2023 | 42.96M | 10.70B | 38.70B | 700.00M | 197.40K | 42.50B |
| Mar 31, 2023 | 46.06M | 11.80B | 45.80B | 800.00M | 231.80K | 45.00B |
| Dec 31, 2022 | 42.69M | 11.20B | 40.10B | 700.00M | 193.30K | 40.80B |
| Sep 30, 2022 | 39.95M | 10.90B | 39.20B | 700.00M | 205.00K | 41.30B |
| Jun 30, 2022 | 39.38M | 12.60B | 46.90B | 800.00M | 222.00K | 39.60B |
| Mar 31, 2022 | 42.46M | 12.90B | 58.70B | 900.00M | 254.00K | 42.00B |
| Dec 31, 2021 | 40.79M | 10.80B | 44.00B | 800.00M | 230.00K | 33.70B |
| Sep 30, 2021 | 37.55M | 9.80B | 39.60B | 800.00M | 223.00K | 32.40B |
| Jun 30, 2021 | 36.44M | 10.50B | 42.00B | 0.00 | 214.00K | 32.50B |
| Mar 31, 2021 | 41.97M | 14.70B | 44.80B | 0.00 | 256.00K | 37.10B |