Cboe Reports Record-Breaking July Trading Volumes

The company’s monthly performance was anchored by the mini-SPX (XSP) options, which reached a monthly average daily volume (ADV) of 238,000 contracts. This growth was fueled largely by zero-days-to-expiry (0DTE) contracts, which hit a record 138,000 ADV, accounting for 66.2% of total S&P 500 options volume. Beyond domestic equity derivatives, Cboe saw significant expansion in its international clearing operations, with Cboe Clear Europe surpassing 1 billion cleared client cash equity trades year-to-date through July 31.

Market participation also shifted toward extended timeframes, as Cboe’s Global Trading Hours session set a new monthly ADV record of 224,000 contracts. While multi-listed options rose 28.4% compared to July 2025, U.S. on-exchange equities faced a slight contraction, dropping 12.4% year-over-year. Despite this, the firm’s broader business lines—including Global FX and Australian equities—maintained strong upward momentum, reflecting a robust appetite for risk management tools across global markets.