CBOE Holdings Reports November 2012 Consolidated Trading Volume

       CBOE Holdings Reports November 2012 Consolidated Trading Volume

-- More All-Time Records for VIX Index Futures: Monthly and Average Daily
Volume

PR Newswire

CHICAGO, Dec. 3, 2012

CHICAGO, Dec. 3, 2012 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE)
reported today that November 2012 consolidated 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 91.31 million contracts.

(Logo: http://photos.prnewswire.com/prnh/20100614/CG20953LOGO)

  oNovember 2012 average daily volume (ADV) for the three exchanges,
    combined, was 4.35 million contracts, a two-percent increase from 4.27
    million contracts ADV in November 2011, and a six-percent increase from
    nearly 4.09 million contracts ADV in October 2012.
  oYear to date through November, consolidated ADV for the three exchanges
    was 4.59 million contracts, down seven percent from 4.96 million contracts
    ADV for the same period a year ago.

CBOE Holdings Consolidated Trading Volume          Year-To-Date
(trades in    Nov-12   Nov-11   % Chg Oct-12   %   Nov-12      Nov-11      %
thousands)                                     Chg                         Chg
Trading Days  21       21             21           230         231
Total
Contracts     91,314.9 89,733.9 2%    85,838.9 6%  1,055,716.5 1,145,933.3 -8%
(options &
futures)
Total Options
Contracts     88,570.7 88,911.2 --    83,389.5 6%  1,034,276.9 1,134,290.9 -9%
(CBOE & C2)
Total Futures
Contracts     2,744.2  822.8    234%  2,449.4  12% 21,446.4    11,392.4    88%
(CFE)
Total ADV
(options &    4,348.3  4,273.0  2%    4,087.6  6%  4,590.1     4,960.8     -7%
futures)
Total Options
ADV           4,217.7  4,233.9  0%    3,970.9  6%  4,496.9     4,910.4     -8%
(CBOE & C2)
Total Futures
ADV        130.7    39.2     234%  116.6    12% 93.2        49.3        89%
(CFE)

CBOE Trading Volume and Market Share

CBOE Trading Volume:

  oNovember ADV at CBOE was nearly 4.0 million contracts, about even with
    November 2011 and up six percent from October 2012 ADV of 3.8 million
    contracts. Year to date through November, ADV was 4.3 million contracts,
    down eight percent from the same period in 2011. Of particular note, in
    November, index options ADV rose 15 percent and 18 percent against
    November 2011 and October 2012, respectively.
  oThe five most actively traded index and ETF options at CBOE during
    November were S&P 500® Index (SPX^SM) options, Standard & Poor's
    Depositary Receipt (SPY) options, CBOE Volatility Index® (VIX® Index)
    options, PowerShares QQQ Trust (QQQ) options and iShares Trust Russell
    2000 Index Fund (IWM) options.

CBOE Trading Volume Current Month                  Year-To-Date
(trades in      Nov-12   Nov-11   %   Oct-12   %   Nov-12    Nov-11      % Chg
thousands)                        Chg          Chg
Trading Days    21       21           21           230       231
Total Exchange  83,704.1 84,075.1 --  79,104.3 6%  987,466.4 1,081,460.6 -9%
Total Exchange  3,985.9  4,003.6  --  3,766.9  6%  4,293.3   4,681.6     -8%
ADV
Equity Options  31,760.3 33,482.8 -5% 35,050.9 -9% 445,777.5 467,700.8   -5%
Equity Options  1,512.4  1,594.4  -5% 1,669.1  -9% 1,938.2   2,024.7     -4%
ADV
Index Options   29,360.8 25,639.3 15% 24,872.9 18% 277,249.8 299,602.7   -7%
Index Options   1,398.1  1,220.9  15% 1,184.4  18% 1,205.4   1,297.0     -7%
ADV
ETF Options     22,583.1 24,953.1 -9% 19,180.4 18% 264,439.1 314,157.0   -16%
ETF Options ADV 1,075.4  1,188.2  -9% 913.4    18% 1,149.7   1,360.0     -15%

Expanded November 2012 volume information for CBOE index and ETF options is
available at: www.cboe.com/data/monthlyvolume.aspx.

CBOE Market Share:
CBOE November market share  was 25.0 percent, up 0.6 of a percentage point
when compared against both November 2011 and October 2012. If the volume from
dividend trades was excluded from industry data for November 2012, CBOE's
total market share would be 25.8 percent.

Exclusion of dividend trades from total industry volume data presents a more
relevant measure of the relative trends in the options business.

C2 Options Exchange Trading Volume and Market Share

CBOE Market Share Current Month                          Year-To-Date
                        Nov-12 Nov-11 % Pt. Oct-12 % Pt. Nov-12 Nov-11 % Pt.
                                      Chg         Chg                 Chg
Total Exchange          25.0%  24.4%  0.6%  24.4%  0.6%  26.8%  25.5%  1.3%
Total Exchange          25.8%  25.3%  0.5%  25.4%  0.4%  27.9%  26.3%  1.6%
(excl. dividend trades)
Equity Options          17.4%  18.7%  -1.3% 17.9%  -0.5% 21.2%  20.5%  0.7%
Equity Options          20.1%  20.6%  -0.5% 20.4%  -0.3% 23.6%  22.0%  1.6%
(excl. dividend trades)
Index Options           93.9%  95.5%  -1.6% 94.5%  -0.6% 94.1%  94.8%  -0.7%
Index Options           93.3%  95.5%  -2.2% 93.9%  -0.6% 93.7%  94.8%  -1.1%
(excl. dividend trades)
ETF Options             18.6%  18.1%  0.5%  18.8%  -0.2% 20.4%  19.1%  1.3%
ETF Options             18.6%  18.1%  0.5%  18.8%  -0.2% 20.6%  19.3%  1.3%
(excl. dividend trades)

C2 Trading Volume:
In November 2012, ADV on C2 Options Exchange was 231,700 contracts, up 14
percent from October 2012 ADV of 204,100 contracts and up one percent from
230,300 contracts ADV in November 2011.

C2 Trading Volume Current Month                        Year-To-Date
(trades in         Nov-12  Nov-11  % Chg Oct-12  % Chg Nov-12   Nov-11   % Chg
thousands)
Trading Days       21      21            21            230      231
Total Exchange     4,866.7 4,836.0 1%    4,285.2 14%   46,810.4 48,936.0 -4%
Total Exchange ADV 231.7   230.3   1%    204.1   14%   203.5    211.8    -4%
Equity Options     1,946.7 1,604.6 21%   1,731.9 12%   18,779.5 17,525.8 7%
Equity Options ADV 92.7    76.4    21%   82.5    12%   81.6     75.9     8%
Index Options      106.0   110.5   -4%   142.5   -26%  1,353.3  210.8    NA
Index Options ADV  5.0     5.3     -4%   6.8     -26%  5.9      5.1      14%
ETF Options        2,814.0 3,120.9 -10%  2,410.9 17%   26,677.7 31,199.4 -14%
ETF Options ADV    134.0   148.6   -10%  114.8   17%   116.0    135.1    -14%

C2 Market Share:
In November 2012, C2's market share was 1.5 percent, up 0.1 of a percentage
point from November 2011 and up 0.2 of a percentage point from October 2012.

C2 Market Share Current Month                           Year-To-Date
                                      % Pt.        % Pt.               % Pt.
                        Nov-12 Nov-11       Oct-12 Chg   Nov-12 Nov-11 Chg
                                      Chg
Total Exchange          1.5%   1.4%   0.1%  1.3%   0.2%  1.3%   1.2%   0.1%
Total Exchange          1.5%   0.9%   0.6%  1.4%   0.1%  1.3%   1.2%   0.1%
(excl. dividend trades)
Equity Options          1.1%   0.9%   0.2%  0.9%   0.2%  0.9%   0.8%   0.1%
Equity Options          1.1%   1.0%   0.1%  0.9%   0.2%  0.9%   0.8%   0.1%
(excl. dividend trades)
Index Options           0.3%   0.4%   -0.1% 0.5%   -0.2% 0.5%   0.7%   -0.2%
Index Options           0.4%   0.4%   --    0.6%   -0.2% 0.5%   0.1%   0.4%
(excl. dividend trades)
ETF Options             2.3%   2.3%   --    2.4%   0.1%  2.1%   1.9%   0.2%
ETF Options             2.3%   2.3%   --    2.4%   -0.1% 2.1%   1.9%   0.2%
(excl. dividend trades)

CBOE Futures Exchange Trading

  oIn November, total trading volume and average daily volume for CBOE
    Volatility Index® (VIX®) futures reached new all-time highs for any month
    in CFE's history.
  oA record 2,734,248 VIX futures contracts changed hands in November,
    beating the October 2012 record of 2,443,878 contracts by 12 percent.
  oIn year-over-year comparisons, total VIX futures volume in November rose
    by 233 percent from November 2011 volume of 822,017 contracts.
  oVIX futures average daily volume in November also marked an all-time
    record for any month as an average of 130,202 VIX futures contracts
    changed hands daily. This figure was 233 percent higher than 39,144
    contracts ADV in November 2011.
  oYear to date through November, total VIX futures volume of 21.3 million
    contracts is up 86 percent versus the same period a year ago.

CBOE Holdings Average Transaction Fee Per Contract
The following represents the average transaction fee per contract based on a
three-month rolling average, reported on a one-month lag. The average
transaction fee 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 transaction fees 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:                                           Oct-12 Sep-12 Aug-12 Jul-12
Equities                                           $0.121 $0.118 $0.122 $0.124
Indexes                                            $0.675 $0.682 $0.684 $0.680
Exchange Traded Funds                              $0.180 $0.177 $0.177 $0.177
 Total Options Average Transaction Fee Per     $0.294 $0.287 $0.286 $0.289
Contract
Futures                                            $1.573 $1.606 $1.626 $1.598
 Total Average Transaction Fee Per Contract    $0.326 $0.317 $0.315 $0.316

About CBOE Holdings:
CBOE Holdings, Inc. (NASDAQ: CBOE) is the holding company for Chicago Board
Options Exchange (CBOE), CBOE Futures Exchange (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 ETF 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 is regulated by
the Securities and Exchange Commission (SEC), with all trades cleared by the
OCC.

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, SPX^SM and The Options Institute are service
marks of Chicago Board Options Exchange, Incorporated (CBOE). C2^SM, C2
Options Exchange^SM and SPXpm^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.

CBOE-V
CBOE-2
CBOE-EF

SOURCE CBOE Holdings, Inc.

Contact: Media, Gail Osten, +1-312-786-7123, osten@cboe.com or Gary Compton,
+1-312-786-7612, comptong@cboe.com, or Analysts, Debbie Koopman,
+1-312-786-7136, koopman@cboe.com
 
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