CBOE Holdings Reports All-Time Record Trading Volume In October

- Volume Averages a Record 7 Million Contracts Per Day - Up 29% from October 2013 and 37% from September 2014

- CBOE, CFE, C2 Establish New Monthly Volume Records

- Index Options, SPX, VIX Options and VIX Futures Set New Records

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Nov 03, 2014, 04:03 ET

CHICAGO, Nov. 3, 2014 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that trading volume for options contracts on Chicago Board Options Exchange^® (CBOE^®) and C2 Options Exchange^SM (C2^SM) and futures contracts on CBOE Futures Exchange^SM (CFE^®) set an all-time monthly record of 163.08 million contracts in October. Average daily volume (ADV) was a record 7.09 million contracts, a 29-percent increase from October 2013 and a 37-percent increase from September 2014. The new ADV record surpasses CBOE Holdings' previous ADV high of 6.65 million contracts in August 2011.

CBOE, CFE and C2 each posted all-time record monthly volumes and average daily volumes in October, and several individual products – including S&P 500^® Index options and CBOE Volatility Index^® (VIX^® Index) futures and options – set monthly and daily records.

CBOE Holdings Consolidated Trading Volume						Year To Date
(Contracts in thousands)	Oct-14	Oct-13	% Chg	Sep-14	% Chg	Oct-14	Oct-13	% Chg
Trading Days	23	23		21		211	211
Total Contracts (options & futures)	163,075.6	126,242.0	29%	108,943.4	50%	1,127,257.2	1,000,932.4	13%
Total Options Contracts (CBOE & C2)	155,616.9	122,036.3	28%	105,184.6	48%	1,084,305.8	966,501.6	12%
Total Futures Contracts (CFE)	7,458.7	4,205.7	77%	3,758.8	98%	42,951.4	34,430.8	25%

Total ADV (options & futures)	7,090.3	5,488.8	29%	5,187.8	37%	5,342.5	4,743.8	13%
Total Options ADV (CBOE & C2)	6,766.0	5,305.9	28%	5,008.8	35%	5,138.9	4,580.6	12%
Total Futures ADV (CFE)	324.3	182.9	77%	179.0	81%	203.6	163.2	25%

CBOE Trading Volume and Market Share

CBOE Trading Volume:

CBOE's October volume totaled an all-time high for any month – 144.55 million contracts – surpassing the previous record of 144.03 million contacts from August 2011. ADV was a record 6.28 million contracts, a 26-percent increase from October 2013 and a 35-percent increase from September 2014.
Index options ADV was a record 2.29 million contracts, a 31-percent increase from October 2013 and a 56-percent increase from September 2014. Index options volume set a new single-day record on October 15, with 4.75 million contracts traded. In S&P 500 Index (SPX) options, October ADV was a record 1.31 million contracts, and on October 15, SPX options set a new daily volume record with 2.69 million contracts traded.
Exchange traded product (ETP) options ADV was 1.88 million contracts, a 53-percent increase from October 2013 and a 50-percent increase from September 2014.
Equity options ADV was 2.11 million contracts, a six-percent increase from October 2013 and a 10-percent increase from September 2014.
The five most actively traded index and ETP options at CBOE in October were options on the S&P 500 Index (SPX), Standard & Poor's Depositary Receipt (SPY), CBOE Volatility Index (VIX Index), iShares Trust - Russell 2000^® Index Fund (IWM) and PowerShares QQQ Trust (QQQ).

CBOE Trading Volume Current Month						Year To Date
(contracts in thousands)	Oct-14	Oct-13	% Chg	Sep-14	% Chg	Oct-14	Oct-13	% Chg
Trading Days	23	23		21		211	211
Total Exchange	144,549.1	114,316.0	26%	97,558.0	48%	1,015,807.6	901,320.5	13%
Total Exchange ADV	6,284.7	4,970.3	26%	4,645.6	35%	4,814.3	4,271.7	13%
Equity Options	48,592.1	45,965.8	6%	40,307.4	21%	404,978.5	346,188.7	17%
Equity Options ADV	2,112.7	1,998.5	6%	1,919.4	10%	1,919.3	1,640.7	17%
Index Options	52,751.9	40,164.1	31%	30,906.4	71%	346,365.4	317,057.1	9%
Index Options ADV	2,293.6	1,746.3	31%	1,471.7	56%	1,641.5	1,502.6	9%
ETP Options	43,205.1	28,186.1	53%	26,344.3	64%	264,463.7	238,074.6	11%
ETP Options ADV	1,878.5	1,225.5	53%	1,254.5	50%	1,253.4	1,128.3	11%

Expanded October 2014 and year-to-date volume information for CBOE index and ETP options is available at: www.cboe.com/data/monthlyvolume.aspx.

CBOE Market Share:
CBOE's market share of total U.S. options industry volume was 29.4 percent in October 2014, an increase of 0.9 of a percentage point from October 2013 and an increase of 2.7 percentage points from September 2014.

CBOE Market Share Current Month						Year To Date
	Oct-14	Oct-13	% Pt. Chg	Sep-14	% Pt. Chg	Oct-14	Oct-13	% Pt. Chg
Total Exchange	29.4%	28.5%	0.9%	26.7%	2.7%	28.1%	25.9%	2.2%
Equity Options	20.6%	20.5%	0.1%	19.8%	0.8%	20.4%	18.2%	2.2%
Index Options	96.7%	98.0%	-1.3%	95.7%	1.0%	96.5%	96.5%	--
ETF Options	21.5%	20.7%	0.8%	20.2%	1.3%	20.8%	19.1%	1.7%

C2 Trading Volume and Market Share

C2 Trading Volume:
C2 October trading volume totaled a monthly record of 11.07 million contracts, surpassing the previous record of 8.79 million contracts traded in April 2013. ADV was a record 481,209 contracts, a 43-percent increase from October 2013 and a 33-percent increase from September 2014.

C2 Trading Volume Current Month						Year To Date
(contracts in thousands)	Oct-14	Oct-13	% Chg	Sep-14	% Chg	Oct-14	Oct-13	% Chg
Trading Days	23	23		21		211	211
Total Exchange	11,067.8	7,720.2	43%	7,626.6	45%	68,498.2	65,181.1	5%
Total Exchange ADV	481.2	335.7	43%	363.2	33%	324.6	308.9	5%
Equity Options	1,395.0	1,288.7	8%	1,156.4	21%	9,354.5	12,991.8	-28%
Equity Options ADV	60.7	56.0	8%	55.1	10%	44.3	61.6	-28%
Index Options	108.3	23.1	369%	36.3	198%	432.1	174.1	148%
Index Options ADV	4.7	1.0	369%	1.7	172%	2.0	0.8	148%
ETP Options	9,564.5	6,408.5	49%	6,433.8	49%	58,711.6	52,015.2	13%
ETP Options ADV	415.8	278.6	49%	306.4	36%	278.3	246.5	13%

C2 Market Share:
C2 market share of total industry volume in October 2014 was 2.3 percent, an increase of 0.4 of a percentage point from October 2013 and an increase of 0.2 of a percentage point from September 2014.

C2 Market Share Current Month						Year To Date
	Oct-14	Oct-13	% Pt. Chg	Sep-14	% Pt. Chg	Oct-14	Oct-13	% Pt. Chg
Total Exchange	2.3%	1.9%	0.4%	2.1%	0.2%	1.9%	1.9%	--
Equity Options	0.6%	0.6%	--	0.6%	--	0.5%	0.7%	-0.2%
Index Options	0.2%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	--
ETP Options	4.8%	4.7%	0.1%	4.9%	-0.1%	4.6%	4.2%	0.4%

CBOE Futures Exchange Trading Volume and Highlights

October was the busiest month ever for trading in VIX futures with just less than 7.5 million contracts traded. October's record volume topped the previous high of 4.6 million VIX futures contracts traded in August 2014.
VIX futures ADV was a record 323,761 contracts, an increase of 78 percent from October 2013 and an increase of 81 percent from September 2014.
Through the end of October, year-to-date volume in VIX futures stood at 42.9 million contracts, surpassing the 39.9 million contracts traded for all of 2013.
During the month, VIX futures also set single-day and week-long volume records.

CBOE Holdings Average Revenue Per Contract
The following represents the average revenue per contract based on a three-month rolling average, reported on a one-month lag. The average revenue per contract represents total transaction fees for CBOE, C2 and CFE recognized for the period divided by total contracts traded on all three exchanges during the period. Average revenue per contract can be affected by various factors, including exchange fee rates, volume-based discounts and transaction mix by contract type and product type.

(In Dollars)	Three-Month Period Ended
Product:	Sep-14	Aug-14	Jul-14	Jun-14
Equity Options	$0.077	$0.076	$0.074	$0.079
Index Options	$0.680	$0.677	$0.671	$0.670
ETP Options	$0.115	$0.114	$0.112	$0.111
Total Options Average Revenue Per Contract	$0.275	$0.281	$0.275	$0.275
Futures	$1.625	$1.631	$1.651	$1.639
Total Average Revenue Per Contract	$0.329	$0.336	$0.324	$0.322

About CBOE Holdings
CBOE Holdings, Inc. (NASDAQ: CBOE) is the holding company for Chicago Board Options Exchange, Incorporated (CBOE), CBOE Futures Exchange, LLC (CFE) and other subsidiaries. CBOE, the largest U.S. options exchange and creator of listed options, continues to set the bar for options and volatility trading through product innovation, trading technology and investor education. CBOE Holdings offers equity, index and ETP options, including proprietary products, such as S&P 500 options (SPX), the most active U.S. index option, and options and futures on the CBOE Volatility Index (the VIX Index). Other products engineered by CBOE include equity options, security index options, Weeklys options, LEAPS options, FLEX options, and benchmark products such as the CBOE S&P 500 BuyWrite Index (BXM). CBOE Holdings is home to the world-renowned Options Institute and www.cboe.com, the go-to place for options and volatility trading resources.

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CBOE^®, Chicago Board Options Exchange^®, CFE^®, Execute Success^®, FLEX^®, LEAPS^®, CBOE Volatility Index^®and VIX^® are registered trademarks, and BuyWrite^SM, BXM^SM, CBOE Futures Exchange^SM, SPX^SM, SPXpm^SM, The Options Institute^SM and Weeklys^SM are service marks of Chicago Board Options Exchange, Incorporated (CBOE). C2^SM and C2 Options Exchange^SM are service marks of C2 Options Exchange, Incorporated (C2). Russell 2000^® is a registered trademark of Frank Russell Company, used under license. Standard & Poor's^®, S&P^® and S&P 500^® are registered trademarks of Standard & Poor's Financial Services, LLC and have been licensed for use by CBOE, C2 and CFE. All other trademarks and service marks are the property of their respective owners.