CBOE Holdings Reports February 2013 Trading Volume

              CBOE Holdings Reports February 2013 Trading Volume

- VIX Futures Set Second Consecutive Monthly Volume Record

PR Newswire

CHICAGO, March 1, 2013

CHICAGO, March 1, 2013 /PRNewswire/ --CBOE Holdings, Inc. (NASDAQ: CBOE)
reported today that February 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 83.14 million
contracts. Average daily volume (ADV) in February was 4.38 million contracts,
up three percent from 4.24 million contracts in January 2013 and down 15
percent from 5.14 million contracts in February 2012.

(Logo: http://photos.prnewswire.com/prnh/20121022/MM97794LOGO-a)

In February, CBOE Volatility Index® (VIX®) futures established record-breaking
monthly trading volume for the second consecutive month.

CBOE Holdings Consolidated Trading Volume            Year-To-Date
(trades in     Feb-13   Feb-12    % Chg Jan-13   %   Feb-13    Feb-12    % Chg
thousands)                                       Chg
Trading Days   19       20              21           40        40
Total
Contracts
               83,140.4 102,867.9 -19%  89,019.9 -7% 172,160.3 194,041.8 -11%
(options &
futures)
Total Options
Contracts   80,052.6 101,527.1 -21%  86,092.3 -7% 166,144.9 191,889.7 -13%
(CBOE & C2)
Total Futures
Contracts      3,087.8  1,340.8   130%  2,927.6  5%  6,015.4   2,152.0   180%
(CFE)
Total ADV
               4,375.8  5,143.4   -15%  4,239.0  3%  4,304.0   4,851.0   -11%
(options &
futures)
Total Options
ADV (CBOE & 4,213.3  5,076.4   -17%  4,099.6  3%  4,153.6   4,797.2   -13%
C2)
Total Futures  162.5    67.0      142%  139.4    17% 150.4     53.8      180%
ADV (CFE)

CBOE Trading Volume and Market Share

CBOE  Trading Volume:

  oFebruary 2013 ADV at CBOE was 3.95 million contracts, down 18 percent from
    February 2012 ADV of 4.84 million contracts and up three percent from
    January 2013 ADV of 3.85 million contracts.
  oOn February 26, VIX options established an all-time, single-day volume
    record, totaling 1,388,634 contracts. The new record beat the previous
    record of 1,219,226 contracts traded on September 11, 2012.
  oThe five most actively traded index and ETP options at CBOE in February
    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.
  oThe five most actively traded equity options in February were Apple
    (AAPL), Bank of America (BAC), Facebook (FB), Blackberry (BBRY) and
    Citigroup (C).

CBOE Trading Volume Current Month                    Year-To-Date
(trades in    Feb-13   Feb-12   % Chg Jan-13   % Chg Feb-13    Feb-12    % Chg
thousands)
Trading Days  19       20             21             40        40
Total         75,053.9 96,699.0 -22%  80,839.6 -7%   155,893.5 183,025.8 -15%
Exchange
Total         3,950.2  4,835.0  -18%  3,849.5  3%    3,897.3   4,575.6   -15%
Exchange ADV
Equity        29,405.9 47,622.9 -38%  32,613.1 -10%  62,019.0  91,770.5  -32%
Options
Equity        1,547.7  2,381.1  -35%  1,553.0  0%    1,550.5   2,294.3   -32%
Options ADV
Index Options 26,827.1 24,724.1 9%    32,027.7 -16%  58,854.8  45,622.2  29%
Index Options 1,412.0  1,236.2  14%   1,525.1  -7%   1,471.4   1,140.6   29%
ADV
ETP Options   18,820.9 24,352.0 -23%  16,198.8 16%   35,019.7  45,633.1  -23%
ETP Options   990.6    1,217.6  -19%  771.4    28%   875.5     1,140.8   -23%
ADV

Expanded full-year and February 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 23.4 percent in
February 2013, up one percentage point from January 2013 and down 4.3
percentage points from February 2012. If the volume from dividend trades was
excluded from industry data for February, the Exchange's total market share
would be 24.1 percent. Exclusion of dividend trades from total industry volume
data presents a more relevant measure of the relative trends in the options
business.

CBOE Market Share Current Month                            Year-To-Date
                          Feb-13 Feb-12 % Pt. Jan-13 % Pt. Feb-13 Feb-12 % Pt.
                                        Chg          Chg                 Chg
Total Exchange            23.4%  27.7%  -4.3% 22.4%  1.0%  22.9%  26.7%  -3.8%
Total Exchange(excl.     24.1%  29.1%  -5.0% 22.8%  1.3%  23.4%  28.5%  -5.1%
dividend trades)
Equity Options            15.9%  22.2%  -6.3% 14.8%  1.1%  15.3%  21.4%  -6.1%
Equity Options(excl.     18.7%  24.7%  -6.0% 16.5%  2.2%  17.5%  24.2%  -6.7%
dividend trades)
Index Options             94.6%  94.5%  0.1%  94.8%  -0.2% 94.7%  94.7%  --
Index Options(excl.     93.8%  94.4%  -0.6% 94.4%  -0.6% 94.1%  94.7%  -0.6%
dividend trades)
ETP Options               17.4%  22.4%  -5.0% 15.2%  2.2%  16.3%  21.9%  -5.6%
ETP Options(excl.      17.4%  22.4%  -5.0% 15.2%  2.2%  16.3%  21.9%  -5.6%
dividend trades)



C2 Trading Volume and Market Share

C2 Trading Volume Current Month                         Year-To-Date
(trades in          Feb-13  Feb-12  % Chg Jan-13  % Chg Feb-13   Feb-12  % Chg
thousands)
Trading Days        19      20            21            40       40
Total Exchange      4,998.6 4,828.1 4%    5,252.7 -5%   10,251.3 8,864.0 16%
Total Exchange ADV  263.1   241.4   9%    250.1   5%    256.3    221.6   16%
Equity Options      1,362.7 1,961.7 -31%  2,451.2 -44%  3,813.9  3,799.6 0%
Equity Options ADV  71.7    98.1    -27%  116.7   -39%  95.3     95.0    0%
Index Options*      52.0    102.1   -49%  84.2    -38%  136.3    194.8   -30%
Index Options ADV*  2.7     5.1     -46%  4.0     -32%  3.4      4.9     -30%
ETP Options         3,583.9 2,764.3 30%   2,717.3 32%   6,301.2  4,869.5 29%
ETP Options ADV     188.6   138.2   36%   129.4   46%   157.5    121.7   29%

*SPXpm moved from C2 to CBOE on February 19.

C2 Trading Volume:

C2 volume in February 2013 totaled just under five million contracts. ADV was
263,100 contracts – up nine percent from February 2012 ADV of 241,400
contracts and up five percent from January 2013 ADV of 250,100 contracts.

C2 Market Share Current Month                             Year-To-Date
                          Feb-13 Feb-12 % Pt. Jan-13 % Pt. Feb-13 Feb-12 % Pt.
                                        Chg          Chg                 Chg
Total Exchange            1.6%   1.4%   0.2%  1.5%   0.1%  1.5%   1.3%   0.2%
Total Exchange(excl.     1.6%   0.9%   0.7%  1.5%   0.1%  1.5%   1.4%   0.1%
dividend trades)
Equity Options            0.7%   0.9%   -0.2% 1.1%   -0.4% 0.9%   0.9%   --
Equity Options(excl.   0.8%   1.0%   -0.2% 1.1%   -0.3% 1.0%   1.0%   --
dividend trades)
Index Options*            0.2%   0.4%   -0.2% 0.2%   --    0.2%   0.4%   -0.2%
Index Options*(excl.    0.3%   0.4%   -0.1% 0.3%   --    0.3%   0.4%   -0.1%
dividend trades)
ETP Options               3.3%   2.5%   0.8%  2.5%   0.8%  2.9%   2.3%   0.6%
ETP Options(excl.     3.3%   2.5%   0.8%  2.6%   0.7%  2.9%   2.3%   0.6%
dividend trades)

*SPXpm moved from C2 to CBOE on February 19.

C2 Market Share:

C2 market share of total industry volume in February 2013 was 1.6 percent, up
0.2 of a percentage point from February 2012 and up 0.1 of a percentage point
from January 2013.

CBOE Futures Exchange Trading Volume

  oTrading volume in VIX futures established a new all-time monthly record in
    February -- 3,062,344 contracts – surpassing the previous record of
    2,897,739 contracts traded in January 2013.
  oAverage daily volume in VIX futures during February reached a new all-time
    high of 161,176 contracts. This record ADV topped the 66,924 contracts
    per day in February 2012 by 141 percent and January's ADV of 137,988
    contracts, the previous record, by 17 percent.
  oFebruary was the first time that total monthly volume in VIX futures
    eclipsed the three-million-contract mark and the sixth consecutive month
    that volume surpassed the two-million-contract mark.

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:                              Jan-13    Dec-12    Nov-12    Oct-12
Equities                              $0.149    $0.134    $0.124    $0.121
Indexes                               $0.665    $0.670    $0.670    $0.675
Exchange Traded Products              $0.194    $0.186    $0.183    $0.180
 Total Options Average Revenue    $0.340    $0.322    $0.309    $0.294
Per Contract
Futures                               $1.484    $1.442    $1.473    $1.573
 Total Average Revenue Per        $0.376    $0.355    $0.342    $0.326
Contract

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 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 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.

CBOE-V

CBOE-2

CBOE-EF





SOURCE CBOE Holdings, Inc.

Website: http://www.cboe.com
Contact: Media, Gail Osten, (312) 786-7123, osten@cboe.com, or Analysts, Gary
Compton, (312) 786-7612, comptong@cboe.com, or Debbie Koopman, (312) 786-7136,
koopman@cboe.com