European options markets have grown far more slowly than their U.S. counterparts over the past 15 years, according to new data from OptionMetrics.
European Options Markets Lag US Growth: Dutch and Danish Trading Leading Gains
The firm’s analysis of IvyDB Europe trading volumes between 2010 and 2025 is said to show that while the American options market has expanded dramatically, Europe’s story has been more restrained.
“It appears that European options markets tell a more subdued story over the past 15 years, compared to the U.S.,” the report noted.
Among the regional standouts, the Netherlands and Denmark emerged as clear growth winners.
Dutch trading volumes have risen steadily, supported by retail investor participation, new product listings, and exchange-driven innovation.
Denmark’s market saw a sharper trajectory, with activity accelerating from 2020 onwards during the pandemic-era retail trading boom.
By contrast, Spain and the UK have been in consistent decline. OptionsMetrics said Spain’s market is shown to have suffered a volatile but downward path, with occasional spikes during stress events before settling at low levels.
Meanwhile, they noted that the UK has seen a steadier fall, sliding from peaks in the mid-2010s to more modest volumes today.
Germany, once weakened by a significant dip, has managed to climb back to previous levels. Meanwhile, larger markets such as France, Italy and Belgium have maintained relatively steady activity, punctuated by spikes during periods of market turbulence.
The OptionsMetrics findings highlight Europe’s fragmented options landscape, where only a handful of markets have achieved growth momentum, leaving the region trailing the US in overall derivatives expansion.
