In Case You Missed It: November 2020
In November, we introduced new Target Outcome Indices, shared a new analysis of the U.S. equities market, announced changes to the Cboe EDGX® Early Trading session and more. Follow us on Twitter for daily updates as we continue defining markets and check back here at the end of December for our next monthly update.
Cboe Global Markets Reports October 2020 Trading Volume
Cboe Global Markets™ reported October 2020 trading volume on November 4. There were several highlights in the report, including a 27 percent increase in total options average daily volume (ADV) and a 29 percent increase in total U.S. equities ADV, compared to October 2019. Additionally, ADV in Cboe Volatility Index (VIX™) options and Mini SPX options increased 35 percent from the month prior.
Cboe Introduces New Target Outcome Indices on Russell 2000 Index
Cboe™ recently expanded its suite of option strategy benchmarks tied to the Russell 2000® Index with new Target Outcome Indices. Target Outcome Index strategies have pre-defined investment objectives and risk-return parameters. The new indices aim to provide either 10% protection against declines or 2x appreciation, up to a cap, relative to the Russell 2000 Index. Learn more about the concept behind Cboe’s innovative Target Outcome Indices here.
Ed Tilly Shares Insights at FIA Expo-V
On November 12, Ed Tilly joined Futures Industry Association (FIA) CEO Walt Lukken for a one-on-one interview during FIA Expo-V. During his conversation with Lukken,Tilly emphasized the resilience of the Cboe Global Markets team, highlighting the successful transition to working from home and Cboe’s ability to execute on key initiatives remotely.
Tilly and Lukken discussed the increase in retail investing and Tilly shared Cboe’s enthusiasm for the new wave of investors. Tilly explained how Cboe’s Options Institute is ready to educate new market participants with teach-ins, webinars and new learning tools.
The conversation wrapped up with a brief discussion on financial transaction taxes (FTT). Tilly explained Cboe’s view that FTTs will harm liquidity and ultimately individual investors, while reiterating Cboe’s willingness to work toward better solutions with local policymakers.
The Impact Closing Auctions Have on Volumes
As closing auctions become an increasingly important part of the trading day, Cboe’s Execution Consulting team continues to uncover ways to enhance end-of-the-day trading for market participants. Their recent analysis explores how closing auction events impact volumes, and highlights how upcoming changes to the close on Cboe’s BZX® exchange may benefit participants.
Cboe EDGX Exchange Introduces Early Trading
Effective Monday, December 7, the Cboe EDGX® Exchange Early Trading session will begin at 4 a.m. ET. In a recent note to clients, Adam Inzirillo, Head of North American Equities, explains what drove the decision to change the Early Trading hours and how Cboe market data will support the expanded trading session.
Three Cboe Women Shortlisted for Markets Media Women in Finance Awards
Jackie Hancock, Vice President, Controller, Lindsey Praechter, Vice President, Marketing, and Eileen Smith, Vice President, Data and Analytics, were shortlisted for Markets Media’s 2020 Women in Finance Awards. Jackie, Lindsey and Eileen were instrumental in developing Cboe’s Women’s Initiative and continue to be strong advocates for women at the company. The award winners will be announced during a virtual ceremony on Thursday, December 3.
Cboe’s Bryan Harkins wins Security Traders Association’s (STA) Foundation Big Heart for Charity Award
Bryan Harkins, Head of Markets, won the STA Foundation’s Big Heart for Charity Award in recognition of his work with Wall Street Rides FAR, an organization Bryan co-founded with his wife to support the Autism Science Foundation. The STA Foundation will hold a virtual awards ceremony on Tuesday, December 1.
The information in this article is provided for general education and information purposes only. No statement(s) within this article should be construed as a recommendation to buy or sell a security or to provide investment advice. Supporting documentation for any claims, comparisons, statistics or other technical data in this article is available by contacting Cboe Global Markets at www.cboe.com/Contact. Cboe is a registered trademark of Cboe Exchange, Inc. All other trademarks and service marks are property of their respective owners. © 2020 Cboe Exchange, Inc. All Rights Reserved.