VOLUME CHECK IN: $ICE volumes not looking great on their own, but doing much better relative to $CME:
June MTD volumes YoY growth:
Energy ADV -4%
Ags & Metals ADV -13%
Financials ADV -22%
@ICE_Markets @CMEGrouppic.twitter.com/XckdFCOYbe
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im staying away from $CBOE - a good portion of their revenue comes from their VIX and S&P 500 options business, which has been hammered since the VIX spiked in March. I wrote on this in detail below if you're interested:https://seekingalpha.com/article/4336849-ghost-of-2018-returns-to-haunt-cboe-again …
More VIX assets going away adds more headwinds to their futures business as well:https://twitter.com/HideNotSlide/status/1275047897596342272?s=20 …
In normal environments, that is correct. Too much volatility causes traders to get blown out of their positions and helps volume in the short term, but hurts it in the medium term. We saw this in Feb 2018 with the VIX-splosion and we're seeing it again now imo
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