VIX指数高波动非常态，芝商所股价遭美银看跌

智通财经网2024-09-04

截至周二美股收盘，芝加哥商品交易所(CME.US)股价下跌1.44%，美股盘中该股一度罕见暴跌近4%，此前华尔街大行美国银行将这家交易所运营商的股票评级从“中性”下调至“跑输大盘”，同时将该股的12个月内目标价从212美元大幅下调至177美元，意味着未来12个月芝商所股价的潜在跌幅高达17%。美国银行分析团队下调芝商所评级与目标股价主要因为交易市场的份额争夺格局正在加速形成，以及VIX指数波动将在...

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曼曼在海南
2024-09-04
曼曼在海南
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href=http://www.zhitongcaijing.com/content/detail/1179067.html><strong>智通财经网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>截至周二美股收盘，芝加哥商品交易所(CME.US)股价下跌1.44%，美股盘中该股一度罕见暴跌近4%，此前华尔街大行美国银行将这家交易所运营商的股票评级从“中性”下调至“跑输大盘”，同时将该股的12个月内目标价从212美元大幅下调至177美元，意味着未来12个月芝商所股价的潜在跌幅高达17%。美国银行分析团队下调芝商所评级与目标股价主要因为交易市场的份额争夺格局正在加速形成，以及VIX指数波动将在...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1179067.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2089284900.SGD","symbol_name":"Allianz Global Sustainability Cl AM Dis 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index is highly volatile and unusually volatile, and CME group's stock price is bearish by Bank of America","themeId":null,"isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/4b92f3d53230c4a211de4b04c561b67c","symbols_score_info":{"UVXY":1,"VXMmain":1,"VIXY":0.6,"CME":1,"TVIX":1,"VXX":1,"VIXmain":0.6,"SVXY":1},"content_text":"截至周二美股收盘，芝加哥商品交易所(CME.US)股价下跌1.44%，美股盘中该股一度罕见暴跌近4%，此前华尔街大行美国银行将这家交易所运营商的股票评级从“中性”下调至“跑输大盘”，同时将该股的12个月内目标价从212美元大幅下调至177美元，意味着未来12个月芝商所股价的潜在跌幅高达17%。美国银行分析团队下调芝商所评级与目标股价主要因为交易市场的份额争夺格局正在加速形成，以及VIX指数波动将在2025年趋于稳定。来自美国银行的分析师克雷格·西根塔勒表示，BGC集团(BGC.US)旗下的FMX期货交易所预计将在几周内启动，这将加剧与芝加哥期权交易所全球市场(CBOE.US)以及洲际交易所(ICE.US)之间的竞争格局。“竞争加剧可能导致市场份额损失和定价逆风。”这位分析师表示。在第二季度的业绩财报会议上，BGC集团董事长兼首席执行官霍华德·卢特尼克(Howard Lutnick)表示，FMX和LCH已获得所有必要的批准，并且预计将于9月份推出SOFR期货。这位美银分析师预计，到2026年，CBOE的指数期权交易量将以15%的复合年增长率增长，因为期权越来越多地被用作CME股票期货的交易替代品。他补充写道：“最后，由于卓越的增长战略、创新记录和产品组合，我们预计洲际交易所将继续在能源期货领域占据重要份额。”据了解，芝加哥商品交易所 (CME) 受益于8月份波动率指数 (即VIX指数) 大幅飙升带来的庞大交易量。因此，其股票表现优于美股大盘——标普500指数以及美国银行的垂直覆盖指数。虽然华尔街分析师们普遍预计该指数将在11月美国总统大选前长期保持相对较高的波动性水平，这将有助于靠着VIX指数交易量而实现巨额收益的芝商所(CME)业绩增长，但美国银行分析师西根塔勒预计VIX波动率指数将在2025年期间波动正常化且趋势偏向下行，而随着VIX指数波动性大幅下降，CME从中交易中获得的收益也将减少，这对其未来的盈利能力构成巨大风险。“这表明2H24是启动‘跑输大盘’评级的最适当时机。”这位分析师在最新的报告中写道。“CME面临的市场份额压力将会随着这些竞争对手的扩张和新进入者的强势加入而加剧。更激烈的竞争可能导致CME的市场份额下降，同时也会带来定价压力，这可能会影响其营收增量和利润率。”更重要的是，在美银分析师西根塔勒看来，VIX指数逐步回归正常化趋势对CME的盈利构成挑战，以及CBOE和ICE在期权和能源期货市场上的强大战略优势对于CME估值非常不利。","kind":"highlight","is_publish_news":false,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"-1","news_tag":"analysis","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[{"id":345814295265584,"gmtCreate":1725432522603,"gmtModify":1725432524372,"author":{"id":"4184381897673700","authorId":"4184381897673700","name":"曼曼在海南","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"wearingBadges":[],"authorIdStr":"4184381897673700","idStr":"4184381897673700"},"htmlText":"‌<a 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