CBOE to List Options on CBOE Russell 2000 Volatility Index Beginning December 3

CBOE Holdings

New Product Offers Volatility Trading on Premier Measureof Small-Cap U.S. Stocks

CHICAGO, IL, November 26, 2013 - Chicago Board Options Exchange, Incorporated® (CBOE ) today announced that it will list options on the CBOE Russell 2000® Volatility Index (ticker: RVX) beginning Tuesday, December 3.

The CBOE Russell 2000 Volatility Index (RVXSM Index) is an up-to-the-minute market estimate of the expected 30-day volatility of the Russell 2000® Index (RUT), calculated using real-time bid/ask quotes of RUT options that are listed on CBOE. The calculation of the RVX Index is based on the CBOE Volatility Index® (VIX® Index) methodology applied to RUT options, the third most actively traded index option at CBOE in the first half of 2013.

RUT is the premier measure of the performance of small-capitalization U.S. stocks and an effective gauge and play on the health of the U.S. economy -- 84 percent of the revenues generated by the companies in the index come from within the U.S.

RVX options will allow investors to hedge the volatility of a portfolio of small-cap stocks and to spread the volatility level of the Russell 2000 against large-cap index volatility to take advantage of differences between small- and large-cap company dynamics.

Futures on the CBOE Russell 2000 Volatility Index (futures ticker: VUSM) began trading at CBOE Futures Exchange (CFE) on November 18, 2013.

Used on their own or in combination with other CBOE volatility index products, CBOE Russell 2000 Volatility Index products will allow customers to hedge, diversify or take a directional view on volatility in the small-cap market sector.

Group One Trading will be the Designated Primary Market Maker (DPM) for the RVX options traded on CBOE.

For more information on the CBOE Russell 2000 Volatility Index and products, including a video, see To learn more about CBOE's volatility indexes, including methodology, daily and historical data and charts, contract specifications, and other information, please visit

About CBOE Holdings, Inc.
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 BuyWrite Index (BXM). CBOE Holdings is home to the world-renowned Options Institute and, the go-to place for options and volatility trading resources.

Forward-Looking Statements:
Certain information contained in this news release may constitute forward-looking statements, such the introduction of RVX futures and options. We caution readers not to place undue reliance on any forward-looking statements, which speak only as of the date made, and are subject to a number of risks and uncertainties.

Media Contacts:
Gail Osten
(312) 786-7123

Gary Compton
(312) 786-7612

Analyst Contact:
Debbie Koopman
(312) 786-7136

Russell Investments Media Contact:
Tim Benedict
(212) 702-7823


CBOE®, Chicago Board Options Exchange®, CFE®, FLEX®, LEAPS®, CBOE Volatility Index® and VIX® are registered trademarks, and BuyWriteSM, BXMSM, SPXSM, RVXSM, CBOE Futures ExchangeSM, Execute SuccessSM, VUSM and The Options Institute are service marks of Chicago Board Options Exchange, Incorporated (CBOE). Russell 2000® is a registered trademark of Russell Investments, 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 and CFE.

Russell Investment Group is a Washington, USA corporation, which operates through subsidiaries worldwide, including Russell Investments, and is a subsidiary of The Northwestern Mutual Life Insurance Company. Russell Investments is the owner of the trademarks, service marks and copyrights related to its respective indexes. Russell's indexes are unmanaged and cannot be invested in directly.