CBOE Holdings And S&P Dow Jones Indices Extend Licensing Agreement Through 2033

  CBOE Holdings And S&P Dow Jones Indices Extend Licensing Agreement Through

PR Newswire

CHICAGO, NEW YORK and BOCA RATON, Fla., March 13, 2013

CHICAGO, NEW YORK and BOCA RATON, Fla., March 13, 2013 /PRNewswire/ -- CBOE
Holdings, Inc. (NASDAQ: CBOE) and S&P Dow Jones Indices announced today that
they have finalized an amendment to their license agreement that extends
Chicago Board Options Exchange's (CBOE) exclusive rights to list security
options contracts based on certain indices calculated and published by S&P Dow
Jones Indices through 2032, and non-exclusive rights through 2033.

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Pursuant to the amendment, CBOE will continue to have the rights to offer
trading in the exchange's flagship S&P 500® index options contract (SPX) --
the most-active U.S index option -- which in 2012 averaged nearly 700,000
contracts traded daily.

"This year marks 30 years since CBOE introduced the world's first index
options contract and shortly thereafter partnered with S&P Dow Jones Indices
to launch trading in S&P 500 index options. For the first time, investors
could use index options to gain exposure to the broader stock market with a
single transaction -- a groundbreaking concept that investors now take for
granted," CBOE Holdings Chairman and CEO William J. Brodsky said. "Our
partnership with S&P Dow Jones Indices has deepened over the years, with new
business opportunities we never dreamed of back in 1983, including creating
new products, benchmarks, and strategy indexes. Thirty years after we
completed our first agreement, we continue to enjoy a strong, mutually
beneficial relationship."

"The launch of S&P 500 index options 30 years ago, along with other index
derivatives, marked a dramatic change in how investors could diversify their
holdings and trade the large-cap segment of the U.S. stock market," said
Alexander Matturri, CEO of S&P Dow Jones Indices. "We are excited to extend
our licensing agreement with our long-time exchange partner, CBOE, to list
options on our growing family of leading stock market indices. Our partnership
with CBOE over the last three decades has changed how investors measure and
view the financial markets."

"The extension of this contract is significant for CBOE Holdings and its
stockholders and for S&P Dow Jones," CBOE Holdings President and COO Edward T.
Tilly, said. "S&P index options products and our highly successful VIX^®
complex, which uses S&P 500 options for index calculation, contribute
substantially to our revenues. We are pleased that we will continue to partner
with S&P Dow Jones Indices for many years to come to expand the use of CBOE's
S&P product line and to collaborate on new product opportunities."

Under the agreement:

  oCBOE has exclusive rights to use the S&P 500 and the S&P 100® to create
    exchange-traded standardized options on those indexes and on other
    derivative indexes. Currently, CBOE lists options on indexes related to
    the S&P 500, and lists benchmark and strategy indexes such as the CBOE S&P
    500 BuyWrite Index, CBOE S&P 500 PutWrite Index and CBOE S&P 500 SKEW
  oCBOE grants S&P Dow Jones Indices the exclusive rights -- and shares
    revenues with S&P Dow Jones Indices -- to license third parties to use
    CBOE's indexes, proprietary index methodologies, related marks and data,
    such as in connection with structured products based on the CBOE
    Volatility Index® (the VIX Index).
  oCBOE pays S&P Dow Jones Indices royalties on S&P 500 options and on CBOE
    Volatility Index options and futures, based on contracts traded.

Before the amendment, the license agreement between CBOE and S&P Dow Jones
Indices was set to expire in 2022. Financial terms of the license are not

For more information, see the CBOE Holdings 8-K in the Investor Relations
section of CBOE's website at http://ir.cboe.com/. A handout related to the
license renewal agreement with S&P Dow Jones Indices, provided at a press
briefing held today at a Futures Industry Association conference, is available
in the Investor Relations section of the website, as well, under Events and

About CBOE Holdings
CBOE Holdings, Inc. (NASDAQ: CBOE) is the holding company for Chicago Board
Options Exchange (CBOE), the 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.

About S&P Dow Jones Indices
S&P Dow Jones Indices LLC, a subsidiary of The McGraw-Hill Companies, Inc.
(NYSE: MHP), is the world's largest, global resource for index-based concepts,
data and research. Home to iconic financial market indicators, such as the S&P
500® and the Dow Jones Industrial Average^SM, S&P Dow Jones Indices LLC has
over 115 years of experience constructing innovative and transparent solutions
that fulfill the needs of institutional and retail investors. More assets are
invested in products based upon our indices than any other provider in the
world. With over 830,000 indices covering a wide range of asset classes across
the globe, S&P Dow Jones Indices LLC defines the way investors measure and
trade the markets. To learn more about our company, please visit

Standard & Poor's and S&P are registered trademarks of Standard & Poor's
Financial Services LLC ("S&P"), a subsidiary of The McGraw-Hill Companies,
Inc. Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC
("Dow Jones"). These trademarks have been licensed to S&P Dow Jones Indices
LLC. It is not possible to invest directly in an index. S&P Dow Jones Indices
LLC, Dow Jones, S&P and their respective affiliates (collectively "S&P Dow
Jones Indices") do not sponsor, endorse, sell, or promote any investment fund
or other investment vehicle that is offered by third parties and that seeks to
provide an investment return based on the performance of any index. This
document does not constitute an offer of services in jurisdictions where S&P
Dow Jones Indices does not have the necessary licenses. S&P Dow Jones Indices
receives compensation in connection with licensing its indices to third

Forward-Looking Statements
This press release may contain forward-looking statements, within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are those statements that reflect our expectations, assumptions or
projections about the future and involve a number of risks and uncertainties.
These statements are only predictions based on our current expectations and
projections about future events. There are important factors that could cause
actual results to differ materially from that expressed or implied by the
forward-looking statements, including: the loss of our right to exclusively
list certain index option products; increasing price competition in our
industry; compliance with legal and regulatory obligations; decreases in the
amount of trading volumes or a shift in the mix of products traded on our
exchanges; legislative or regulatory changes; increasing competition by
foreign and domestic entities; economic, political and market conditions; our
ability to operate our business without violating the intellectual property
rights of others and the costs associated with protecting our intellectual
property rights; our ability to maintain access fee revenues; our ability to
accommodate trading volume and order transaction traffic; our ability to
protect our systems and communication networks from security risks, including
cyber-attacks; our ability to attract and retain skilled management and other
personnel; our ability to maintain our growth effectively; our dependence on
third party service providers; and the ability of our compliance and risk
management methods to effectively monitor and manage our risks. More detailed
information about factors that may affect our performance may be found in our
filings with the SEC, including in our Annual Report on Form 10-K for the year
ended December 31, 2012 and other filings made from time to time with the SEC.

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, PutWrite^SM, SKEW^SM, SPX^SM and The Options
Institute are service marks of Chicago Board Options Exchange, Incorporated
(CBOE). Standard & Poor's^® , S&P^®, S&P 100^® and S&P 500^® are registered
trademarks of Standard & Poor's Financial Services, LLC and have been licensed
for use by CBOE. All other trademarks and service marks are the property of
their respective owners.

STANDARD & POOR'S and S&P are registered trademarks of Standard & Poor's
Financial Services LLC. "Dow Jones" is a registered trademark of Dow Jones
Trademark Holdings LLC ("Dow Jones").


SOURCE CBOE Holdings, Inc.

Website: http://www.cboe.com
Website: http://www.spdji.com
Website: http://ir.cboe.com
Contact: Media, Gail Osten, +1-312-786-7123, osten@cboe.com, or Gary Compton,
+1-312-786-7612, comptong@cboe.com, both of CBOE Holdings; or S&P Dow Jones
Indices, David Guarino, +1-212-438-1471, dave_guarino@spdji.com; or Investor
Relations, CBOE Holdings, Debbie Koopman, +1-312-786-7136, Koopman@cboe.com
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