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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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
This, plus higher exposure to market data (more steady, long term revenue stream), explains why $ICE is outperforming since the March bottom:pic.twitter.com/oZwpzaNzKr
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 …
Hide Not Slide Retweeted Hide Not Slide
More VIX assets going away adds more headwinds to their futures business as well:https://twitter.com/HideNotSlide/status/1275047897596342272?s=20 …
Hide Not Slide added,
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