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Cboe Global Markets Reports December and Full Year 2025 Trading Volume

Cboe Global Markets, Inc. (Cboe: CBOE), recognized as the foremost global derivatives and securities exchange network, has announced compelling trading volume statistics for December 2025 and a comprehensive overview for the entirety of the year. This report not only showcases the figures for December but also provides insights into the trading activities across various segments throughout the year. The report highlights expanding trading volumes and reinforces the significance of Cboe in the global trading landscape.

Key Highlights from December and Full Year 2025

In December 2025, Cboe reported a robust average daily trading volume (ADV), with significant activity in multi-listed options, index options, and U.S. equities. The month's performance added to the overall impressive statistics recorded for the full year, further solidifying Cboe's reputation in derivatives trading.

Trading Volume Breakdown

Cboe reported that during December, the following trading volumes were observed:

• - Multi-listed options: 11.55 million contracts
• - Index options: 5.04 million contracts
• - Futures: 179 thousand contracts
• - U.S. Equities – On-Exchange: 1.415 billion matched shares
• - U.S. Equities – Off-Exchange: 161 million matched shares

When comparing to December 2024, the multi-listed options trading saw a slight decline of 2.6%, while index options surged by 25.7%. This divergence in performance signals a growing interest in index products.

Full Year Highlights

For the entirety of 2025, Cboe established new records across several key segments:
1. Total options traded: 4.6 billion contracts, achieving an average of 18.4 million contracts per day. This marked the sixth consecutive record-breaking year.
2. Multi-list options volume: 3.4 billion contracts with an ADV of 13.5 million contracts.
3. Proprietary index options: 1.2 billion contracts traded, equating to an ADV of 4.9 million contracts.
4. SPX index options: Total volume reached 970.6 million contracts, averaging 3.9 million contracts per day.
5. VIX options: 215.6 million contracts traded, contributing to an ADV of 862 thousand contracts.

Noteworthy Trends and Records

Additionally, multiple records were highlighted within Cboe's performance:

• - SPX zero-days-to-expiry (0DTE) options: Averaged 2.3 million contracts per day, making up 59% of all SPX volume.
• - Cboe's global trading hours session: During this unique session, 28.7 million contracts were traded, achieving a daily average of 115 thousand contracts.

Off-Exchange Performance

BIDS Trading also made significant contributions in off-exchange trading, reporting a yearly ADV record of 155 million matched shares, a 96% increase from the previous year. This reflects a growing preference for off-exchange trading solutions.

European and Global Performance

In Europe, Cboe reported tremendous growth, achieving record highs across several metrics:

• - Average Daily Notional Volume (ADNV): €12.8 billion.
• - Market share: Increased to a record 25%.
• - Periodic Auctions ADNV: €3.8 billion.

Global FX trading also reached extraordinary heights, surpassing last year's ADNV of $45.4 billion with a new record of $49.7 billion.

Looking Ahead

Cboe is on track to continue this momentum, with projected RPC/net revenue capture metrics for the fourth quarter of 2025 outlining anticipated increases across various product categories. As the exchange adapts to the evolving market landscape, it remains committed to leveraging its innovative trading technologies and extensive global reach, ensuring its position at the forefront of the financial trading community.

Conclusion

The robust trading volume reported by Cboe Global Markets underscores its impact as a leader in the derivatives and securities exchange sectors. As we move into the new year, the expectations for continued growth and innovation within Cboe's offerings remain high, ensuring enhanced opportunities and solutions for market participants worldwide.