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CBOE ANNOUNCES ACTION AGAINST T3 CFO NADAV SAPEIKA

     (The following press release from CBOE Holdings Inc., was received by     
e-mail and was reformatted. The sender verified the statement.) 
News Release                                                                     
For Immediate Release                                                            
CBOE ANNOUNCES DISCIPLINARY ACTION                                               
CHICAGO, IL – January 31, 2013 -- The Business Conduct Committee of the Chicago 
Board Options Exchange, Incorporated (CBOE) today reported that it has imposed 
sanctions against Nadav Sapeika, Chief Operating Officer, Chief Financial 
Officer and an associated person of T3 Trading Group, L.L.C., a registered 
broker dealer and an effective Trading Permit Holder (TPH) of CBOE Stock 
Exchange (CBSX). Sapeika neither admitted nor denied the violations alleged in 
the Statement of Charges.                                                        
Sapeika is alleged to have established a LinkedIn account and an email address 
substantially similar to that of a Managing Member of a competitor 
organization. He also is alleged to have used the alias email address to seek 
the issuance of a user identification with administrative access to the trading 
platform from representatives of a trading platform vendor used by the 
competitor organization. This included login access that had the same 
permissions as a Managing Member of the competitor organization.                 
Sapeika entered into an Offer of Settlement with the Exchange that subjected 
him to the following four sanctions: (i) a censure; (ii) a 90-consecutive-day 
suspension from association with a Trading Permit Holder or TPH organization, 
beginning on January 30, 2013; (iii) special supervision for two years by any 
Trading Permit Holder or TPH organization with which Sapeika is acting as an 
associated person (the associated Trading Permit Holder must file a plan with 
the Exchange that is acceptable to the Exchange prior to such association); and 
(iv) completion of an Ethics class that is acceptable to the Exchange within 90 
days from the issuance of the decision.                                          
About CBOE 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 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 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.    
Media Contacts:                               Analyst Contact:                  
Gail Osten             Gary Compton           Debbie Koopman                   
(312) 786-7123         (312) 786-7612         (312) 786-7136                 
osten@cboe.com         comptong@cboe.com      koopman@cboe.com 
(kgt)NY 
 
 
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