CBOE Holdings Reports August Volume Of Over 100 Million Contracts

- ADV Up 17 Percent from August 2012 and 4 Percent from July

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Sep 03, 2013, 04:20 ET

CHICAGO, Sept. 3, 2013 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that August trading volume for options contracts on Chicago Board Options Exchange^® (CBOE^®) and C2 Options Exchange (C2^SM) and futures contracts on CBOE Futures Exchange^SM (CFE^®) totaled 101.72 million contracts. Average daily volume was 4.62 million contracts, an increase of 17 percent over August 2012 and up four percent from July 2013.

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CBOE Holdings Consolidated Trading Volume						Year-To-Date
(trades in thousands)	Aug-13	Aug-12	% Chg	Jul-13	% Chg	Aug-13	Aug-12	% Chg
Trading Days	22	23		22		168	169
Total Contracts *(options & futures)*	101,716.9	91,258.5	11%	98,162.0	4%	779,211.3	785,698.3	-1%
Total Options Contracts *(CBOE & C2)*	98,189.2	89,342.8	10%	95,196.5	3%	751,962.9	771,856.7	-3%
Total Futures Contracts *(CFE)*	3,527.7	1,915.7	84%	2,965.5	19%	27,248.4	13,841.6	97%

Total ADV *(options & futures)*	4,623.5	3,967.8	17%	4,461.9	4%	4,638.2	4,649.1	0%
Total Options ADV *(CBOE & C2)*	4,463.2	3,884.5	15%	4,327.1	3%	4,476.0	4,567.2	-2%
Total Futures ADV *(CFE)*	160.3	83.3	93%	134.8	19%	162.2	81.9	98%

CBOE Trading Volume and Market Share

CBOE Trading Volume:

CBOE's August trading volume totaled 91.95 million contracts. ADV in August was 4.18 million contracts, with increases of 12 percent and three percent, respectively, over August 2012 and July 2013.
Index options ADV was 1.36 million contracts, with increases of 35 percent and four percent, respectively, from August 2012 and July 2013. Year to date through August, index options ADV rose 27 percent from a year ago.
Exchange traded product (ETP) options ADV was 1.12 million contracts, with increases of 21 percent and four percent, respectively, from August 2012 and July 2013.
Equity options ADV was 1.70 million contracts, a decrease of six percent from August 2012 and an increase of one percent from July 2013.
The five most actively traded index and ETP options at CBOE in August were S&P 500^® Index (SPX^SM) options, CBOE Volatility Index^® (VIX^® Index) options, Standard & Poor's Depositary Receipt (SPY) options, iShares Trust - Russell 2000^® Index Fund (IWM) options and iPath S&P 500 VIX Short-Term Futures ETN (VXX) options.

CBOE Trading Volume Current Month						Year-To-Date
(trades in thousands)	Aug-13	Aug-12	% Chg	Jul-13	% Chg	Aug-13	Aug-12	% Chg
Trading Days	22	23		22		168	169
Total Exchange	91,948.5	86,169.9	7%	89,475.0	3%	699,796.1	737,709.7	-5%
Total Exchange ADV	4,179.5	3,746.5	12%	4,067.0	3%	4,165.5	4,365.1	-5%
Equity Options	37,329.6	41,522.9	-10%	36,992.1	1%	264,537.1	340,752.8	-22%
Equity Options ADV	1,696.8	1,805.3	-6%	1,681.5	1%	1,574.6	2,016.3	-22%
Index Options	29,996.6	23,303.9	29%	28,881.5	4%	247,573.6	196,621.8	26%
Index Options ADV	1,363.5	1,013.2	35%	1,312.8	4%	1,473.7	1,163.4	27%
ETP Options	24,622.3	21,343.1	15%	23,601.4	4%	187,685.4	200,335.1	-6%
ETP Options ADV	1,119.2	928.0	21%	1,072.8	4%	1,117.2	1,185.4	-6%

Expanded full-year and August 2013 volume information for CBOE index and ETP options is available at: www.cboe.com/data/monthlyvolume.aspx.

CBOE Market Share:

CBOE market share of total U.S. options industry volume was 28.6 percent in August 2013, an increase of 0.9 of a percentage point over August 2012 and an increase of one percentage point over July 2013.

CBOE Market Share Current Month						Year-To-Date
	Aug-13	Aug-12	% Pt. Chg	Jul-13	% Pt. Chg	Aug-13	Aug-12	% Pt. Chg
Total Exchange	28.6%	27.7%	0.9%	27.6%	1.0%	25.4%	27.3%	-1.9%
Equity Options	21.1%	22.8%	-1.7%	20.5%	0.6%	17.6%	22.1%	-4.5%
Index Options	97.5%	93.9%	3.6%	97.6%	-0.1%	96.1%	94.1%	2.0%
ETP Options	21.6%	20.6%	1.0%	20.6%	1.0%	18.8%	21.1%	-2.3%

C2 Trading Volume and Market Share

C2 Trading Volume:

C2's August trading volume totaled 6.24 million contracts. ADV was 283,700 contracts, with increases of 106 percent and nine percent, respectively, over August 2012 and July 2013. ETP options ADV rose 213 percent from August 2012.
Year to date through August, C2 ADV increased 54 percent from the same period a year ago, with ETP ADV – up 114 percent -- driving year-to-date increases.

C2 Trading Volume Current Month						Year-To-Date
(trades in thousands)	Aug-13	Aug-12	% Chg	Jul-13	% Chg	Aug-13	Aug-12	% Chg
Trading Days	22	23		22		168	169
Total Exchange	6,240.8	3,172.9	97%	5,721.5	9%	52,166.9	34,147.0	53%
Total Exchange ADV	283.7	138.0	106%	260.1	9%	310.5	202.1	54%
Equity Options	1,217.5	1,395.0	-13%	1,157.7	5%	10,764.8	13,739.0	-22%
Equity Options ADV	55.4	60.7	-9%	52.6	5%	64.1	81.3	-21%
ETP Options	5,023.3	1,676.3	200%	4,563.8	10%	41,265.8	19,402.9	113%
ETP Options ADV	228.3	72.9	213%	207.4	10%	245.6	114.8	114%

C2 Market Share:

C2 market share of total industry volume in August 2013 was 1.9 percent, an increase of 0.9 of a percentage point from August 2012 and an increase of 0.1 of a percentage point from July 2013.

C2 Market Share Current Month						Year-To-Date
	Aug-13	Aug-12	% Pt. Chg	Jul-13	% Pt. Chg	Aug-13	Aug-12	% Pt. Chg
Total Exchange	1.9%	1.0%	0.9%	1.8%	0.1%	1.9%	1.3%	0.6%
Equity Options	0.7%	0.8%	-0.1%	0.6%	0.0%	0.7%	0.9%	-0.2%
ETP Options	4.4%	1.6%	1.9%	4.0%	0.4%	4.1%	2.0%	2.1%

CBOE Futures Exchange Trading Volume

August trading volume for VIX futures totaled nearly 3.5 million contracts, with increases of 83 percent and 19 percent, respectively, from August 2012 and July 2013. ADV was 158,552 contracts, an increase of 91 percent from August 2012 and up 19 percent from July 2013.
Year to date through August, VIX trading volume outpaced last year by 97 percent, as 27.1 million contracts changed hands.

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:	Jul-13	Jun-13	May-13	Apr-13
Equity Options	$0.082	$0.090	$0.094	$0.114
Index Options	$0.670	$0.675	$0.674	$0.679
ETP Options	$0.121	$0.119	$0.119	$0.127
Total Options Average Revenue Per Contract	$0.282	$0.289	$0.295	$0.308
Futures	$1.544	$1.544	$1.594	$1.598
Total Average Revenue Per Contract	$0.324	$0.334	$0.341	$0.357

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, 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.

CBOE^®, Chicago Board Options Exchange^®, CFE^®, FLEX^®, LEAPS^®, CBOE Volatility Index^®and VIX^® are registered trademarks, and BuyWrite^SM, BXM^SM, CBOE Futures Exchange^SM, Execute Success^SM, SPX^SM, and The Options Institute 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). 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.