78% of equity options traded worldwide were traded in India last year, per WSJ.
Global listed derivatives markets saw a significant increase in trading activity in 2023, with the total volume of trading reaching 137.3 billion contracts, marking a 64% increase from the previous year. This continued a trend of record-setting trading activity for the sixth consecutive year.
78% of equity options traded worldwide were traded in India last year
3/22/2024
While trading volume in most parts of the world saw modest growth compared to the previous year, India stood out with a remarkable increase in the trading of equity index options. The number of equity index options traded on Indian exchanges reached 84.3 billion contracts in 2023, up 153% from 2022, contributing to the global total of 108.2 billion options traded worldwide, up 98% from the previous year.
Total futures volume was relatively stable at 29.1 billion contracts, with increases in futures trading in China and the UK offsetting declines in Brazil and Turkey.
Open interest, which measures the number of outstanding contracts at a point in time, reached a record level of 1.25 billion contracts at year-end, up 15% from the previous year. Open interest in options rose 18% to 955 million contracts, while open interest in futures rose 8% to 298 million contracts.
The Asia-Pacific region saw the largest increase in trading activity, with total volume reaching 103.5 billion contracts, up 104% from the previous year, driven largely by growth in India. North America remained the second largest region in terms of trading volume, with 17.9 billion futures and options contracts traded in 2020, up 6.2% from the previous year. Latin America and Europe saw relatively stable trading volumes, while volume in the Middle East and Africa fell almost 20%.
In terms of open interest, North America led the way with 648 million futures and options outstanding at the end of the year, accounting for 52% of the total open interest worldwide. Europe accounted for 19% of global open interest, with open interest standing at 242 million contracts at year-end, up 18% from December 2020.
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