Last week, Cboe Global Markets reported strong trading activity in August 2025, with record U.S. options volumes helping offset weaker demand in futures.
Cboe Posts Record U.S. Options Activity in August Despite Futures Decline
Average daily volume (ADV) across the company’s four U.S. options exchanges reached an all-time high of 19.2 million contracts.
This was driven by a record in multiply-listed options, which averaged 14.3 million contracts per day, up 38.5% from August 2024.
The figure also surpassed the previous record of 13.6 million contracts set in February.
Index options activity also remained robust, with ADV rising 11.1% year on year to 4.9 million contracts.
Trading in S&P 500 Index (SPX) options averaged 3.8 million contracts, marking the second-strongest month on record. Zero-days-to-expiry (0DTE) SPX contracts accounted for 2.4 million of that total, a new high.
Elsewhere, Cboe’s U.S. equities business also expanded, with on-exchange matched shares climbing 30.8% to 1.6 billion.
Off-exchange trading surged almost threefold to 229 million shares. European equities ADV rose 26.3% year on year to €10.7 billion, while Australian equities increased 23.6% to AUD 1.1 billion.
However, futures volumes declined, with ADV falling 31.3% compared with August 2024 to 218,000 contracts. Global foreign exchange activity also slipped 4.9% to $48.8 billion.
Cboe Clear Europe, the company’s clearing business, reported net settlements of 1.1 million, up 13.5% on the year.
