CBOE Holdings Reports September 2014 Trading Volume

- ADV Up 9% from September 2013, 10% from August

- Best Quarter Ever for VIX Futures Trading Volume

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Oct 01, 2014, 02:51 ET

CHICAGO, Oct. 1, 2014 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that September 2014 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^®) totaled 108.94 million contracts. Average daily volume (ADV) was 5.19 million contracts, a nine-percent increase from September 2013 and a ten-percent increase from August 2014.

CBOE Holdings' year-to-date ADV was 5.13 million contracts, ten percent ahead of the same period one year ago.

In the third quarter, CFE and its CBOE Volatility Index^® (VIX^® Index) futures contract set all-time records for total trading volume for any quarter.

CBOE Holdings Consolidated Trading Volume						Year To Date
(Contracts in thousands)	Sep-14	Sep-13	% Chg	Aug-14	% Chg	Sep-14	Sep-13	% Chg
Trading Days	21	20		21		188	188
*Total Contracts* *(options & futures)*	108,943.4	95,479.1	14%	99,104.8	10%	964,181.6	874,690.5	10%
Total Options Contracts (CBOE & C2)	105,184.6	92,502.5	14%	94,538.6	11%	928,688.9	844,465.4	10%
Total Futures Contracts (CFE)	3,758.8	2,976.6	26%	4,566.2	-18%	35,492.7	30,225.1	17%

Total ADV (options & futures)	5,187.8	4,774.0	9%	4,719.2	10%	5,128.6	4,652.6	10%
Total Options ADV (CBOE & C2)	5,008.8	4,625.2	8%	4,501.8	11%	4,939.8	4,491.8	10%
Total Futures ADV (CFE)	179.0	148.8	20%	217.4	-18%	188.8	160.8	17%

CBOE Trading Volume and Market Share

CBOE Trading Volume:

CBOE's September ADV was 4.65 million contracts, a seven-percent increase from September 2013 and an 11-percent increase from August 2014.
Equity options ADV was 1.92 million contracts, an eight-percent increase from September 2013 and a 22-percent increase from August 2014.
Exchange traded product (ETP) options ADV was 1.25 million contracts, a 13-percent increase from September 2013 and a 15-percent increase from August 2014.
Index options ADV was 1.47 million contracts, even with September 2013 and a three-percent decrease from August 2014.
The five most actively traded index and ETP options at CBOE in September were options on the S&P 500^® Index (SPX), CBOE Volatility Index (VIX Index), Standard & Poor's Depositary Receipt (SPY), iShares Trust - Russell 2000^® Index Fund (IWM) and PowerShares QQQ Trust (QQQ).

CBOE Trading Volume Current Month						Year To Date
(contracts in thousands)	Sep-14	Sep-13	% Chg	Aug-14	% Chg	Sep-14	Sep-13	% Chg
Trading Days	21	20		21		188	188
Total Exchange	97,558.0	87,208.4	12%	88,020.6	11%	871,258.5	787,004.5	11%
Total Exchange ADV	4,645.6	4,360.4	7%	4,191.5	11%	4,634.4	4,186.2	11%
Equity Options	40,307.4	35,685.8	13%	33,160.5	22%	356,386.4	300,222.9	19%
Equity Options ADV	1,919.4	1,784.3	8%	1,579.1	22%	1,895.7	1,596.9	19%
Index Options	30,906.4	29,319.5	5%	31,934.6	-3%	293,613.5	276,893.0	6%
Index Options ADV	1,471.7	1,466.0	--	1,520.7	-3%	1,561.8	1,472.8	6%
ETP Options	26,344.3	22,203.1	19%	22,925.5	15%	221,258.6	209,888.5	5%
ETP Options ADV	1,254.5	1,110.2	13%	1,091.7	15%	1,176.9	1,116.4	5%

Expanded September 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 26.7 percent in September 2014, a decrease of 0.9 of a percentage point from September 2013 and a decrease of 0.8 of a percentage point from August 2014.

CBOE Market Share Current Month						Year To Date
	Sep-14	Sep-13	% Pt. Chg	Aug-14	% Pt. Chg	Sep-14	Sep-13	% Pt. Chg
Total Exchange	26.7%	27.6%	-0.9%	27.5%	-0.8%	27.9%	25.6%	2.3%
Equity Options	19.8%	20.6%	-0.8%	18.6%	1.2%	20.4%	17.9%	2.5%
Index Options	95.7%	97.5%	-1.8%	96.8%	-1.1%	96.4%	96.3%	0.1%
ETP Options	20.2%	19.8%	0.4%	21.1%	-0.9%	20.7%	18.9%	1.8%

C2 Trading Volume and Market Share

C2 Trading Volume:

C2's September trading volume totaled 7.63 million contracts. ADV was 363,200 contracts, a 37-percent increase from September 2013 and a 17-percent increase from August 2014.

C2 Trading Volume Current Month						Year To Date
(contracts in thousands)	Sep-14	Sep-13	% Chg	Aug-14	% Chg	Sep-14	Sep-13	% Chg
Trading Days	21	20		21		188	188
Total Exchange	7,626.6	5,294.0	44%	6,518.0	17%	57,430.4	57,460.9	0%
Total Exchange ADV	363.2	264.7	37%	310.4	17%	305.5	305.6	0%
Equity Options	1,156.4	938.4	23%	906.8	28%	7,959.5	11,703.2	-32%
Equity Options ADV	55.1	46.9	17%	43.2	28%	42.3	62.3	-32%
Index Options*	36.3	14.7	146%	38.6	-6%	323.8	151.0	114%
Index Options ADV*	1.7	0.7	135%	1.8	-6%	1.7	0.8	114%
ETP Options	6,433.8	4,340.9	48%	5,572.6	15%	49,147.1	45,606.8	8%
ETP Options ADV	306.4	217.0	41%	265.4	15%	261.4	242.6	8%

*Russell 2000 Index options began trading on C2 on September 3, 2013. 2013 year-to-date index options include SPXpm^SM, which traded on C2 until it was moved to CBOE on February 17, 2013.

C2 Market Share:

C2 market share of total industry volume in September 2014 was 2.1 percent, an increase of 0.4 of a percentage point from September 2013 and an increase of 0.1 of a percentage point from August 2014.

C2 Market Share Current Month						Year To Date
	Sep-14	Sep-13	% Pt. Chg	Aug-14	% Pt. Chg	Sep-14	Sep-13	% Pt. Chg
Total Exchange	2.1%	1.7%	0.4%	2.0%	0.1%	1.8%	1.9%	-0.1%
Equity Options	0.6%	0.5%	0.1%	0.5%	0.1%	0.5%	0.7%	-0.2%
Index Options*	0.1%	--	0.1%	0.1%	--	0.1%	0.1%	--
ETP Options	4.9%	3.9%	1.0%	5.1%	-0.2%	4.6%	4.1%	0.5%

*Russell 2000 Index options began trading on C2 on September 3, 2013. 2013 year-to-date index options include SPXpm^SM, which traded on C2 until it was moved to CBOE on February 17, 2013.

CBOE Futures Exchange Trading Volume and Highlights

September ADV and total trading volume, both exchange-wide at CFE and for futures on the VIX Index, rose over year-ago levels, with the third quarter of 2014 experiencing record trading activity.
Average daily volume in VIX futures in September was 178,531 contracts, a 21-percent increase from September 2013 and an 18-percent decrease from the all-time-record ADV in August 2014.
Trading volume in VIX futures outside of regular U.S. trading hours averaged over 15,000 contracts per trading day in September, accounting for about nine percent of CFE's total daily trading volume.

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:	Aug-14	Jul-14	Jun-14	May-14
Equity Options	$0.076	$0.074	$0.079	$0.081
Index Options	$0.677	$0.671	$0.670	$0.674
ETP Options	$0.114	$0.112	$0.111	$0.113
Total Options Average Revenue Per Contract	$0.281	$0.275	$0.275	$0.275
Futures	$1.631	$1.651	$1.639	$1.616
Total Average Revenue Per Contract	$0.336	$0.324	$0.322	$0.321

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 and Weeklys 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.