CBOE Holdings Reports January Volume

February 3, 2014

CBOE Holdings

- January ADV Up 36% from January 2013 and 28% from December
- CBOE VIX options and futures establish new monthly volume records

CHICAGO, Feb. 3, 2014 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that January trading volume for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options Exchange (C2SM) and futures contracts on CBOE Futures ExchangeSM (CFE®) totaled 121.45 million contracts. Average daily volume (ADV) was 5.78 million contracts, a 36-percent increase from January 2013 and a 28-percent increase from December 2013.

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During the month, CBOE Volatility Index® (VIX® Index) options established an all-time-monthly ADV record, and VIX futures set an all-time monthly volume record.

CBOE Holdings Consolidated Trading Volume

(trades in thousands)

Jan-14

Jan-13

% Chg

Dec-13

% Chg

Trading Days

21

21


21


Total Contracts (options & futures)

121,446.6

89,019.9

36%

94,805.6

28%

Total Options Contracts (CBOE & C2)

117,039.4

86,092.3

36%

91,604.4

28%

Total Futures Contracts (CFE)

4,407.2

2,927.6

51%

3,201.2

38%







Total ADV (options & futures)

5,783.2

4,239.0

36%

4,514.6

28%

Total Options ADV (CBOE & C2)

5,573.3

4,099.6

36%

4,362.2

28%

Total Futures ADV (CFE)

209.9

139.4

51%

152.4

38%

CBOE Trading Volume and Market Share

CBOE Trading Volume:

  • CBOE's January ADV was 5.26 million contracts, a 37-percent increase from January 2013 and a 29-percent increase from December 2013.
  • Equity options ADV was 2.31 million contracts, a 49-percent increase from January 2013 and a 37-percent increase from December 2013.
  • Exchange traded product (ETP) options ADV was 1.17 million contracts, a 52-percent increase from January 2013 and an 18-percent increase from December 2013.
  • Index options ADV was 1.78 million contracts, a 17-percent increase from January 2013 and a 27-percent increase from December 2013.
  • VIX Index and SPX Weeklys(SM) (SPXW) options established new monthly records in January. VIX options ADV was a record 791,978 contracts, beating the previous monthly record set in October 2013. SPXW options set all-time-high volume and ADV records at 5.85 million contracts and 278,537 contracts, respectively, surpassing previous records in May 2013.
  • The five most actively traded index and ETP options at CBOE in January were S&P 500 Index (SPXSM) options, CBOE Volatility Index (VIX Index) options, Standard & Poor's Depositary Receipt (SPY) options, iPath S&P 500 VIX Short-Term Futures ETN (VXX) options and PowerShares QQQ Trust (QQQ) options.

CBOE Trading Volume Current Month

(trades in thousands)

Jan-14

Jan-13

% Chg

Dec-13

% Chg

Trading Days

21

21


21


Total Exchange

110,503.4

80,839.6

37%

85,875.1

29%

Total Exchange ADV

5,262.1

3,849.5

37%

4,089.3

29%

Equity Options

48,587.4

32,613.1

49%

35,579.9

37%

Equity Options ADV

2,313.7

1,553.0

49%

1,694.3

37%

Index Options

37,335.0

32,027.7

17%

29,487.0

27%

Index Options ADV

1,777.9

1,525.1

17%

1,404.1

27%

ETP Options

24,581.0

16,198.8

52%

20,808.2

18%

ETP Options ADV

1,170.5

771.4

52%

990.9

18%

Expanded January 2014 volume information for CBOE index and ETP options is available at: www.cboe.com/data/monthlyvolume.aspx.

CBOE Market Share:

CBOE's market share of total U.S. options industry volume was 28.4 percent in January 2014, an increase of 5.4 percentage points from January 2013 and an increase of 1.6 percentage points from December 2013.

CBOE Market Share Current Month


Jan-14

Jan-13

% Pt. Chg

Dec-13

% Pt. Chg

Total Exchange

28.4%

23.0%

5.4%

26.8%

1.6%

Equity Options

21.5%

14.8%

6.7%

19.8%

1.7%

Index Options

97.8%

94.9%

3.0%

97.6%

0.2%

ETP Options

19.6%

15.2%

4.4%

18.9%

0.7%

C2 Trading Volume and Market Share

C2 Trading Volume:

  • C2's January trading volume totaled 6.54 million contracts. ADV was 311,200 contracts, a 24-percent increase from January 2013 and a 14-percent increase from December 2013.

C2 Trading Volume Current Month




(trades in thousands)

Jan-14

Jan-13

% Chg

Dec-13

% Chg

Trading Days

21

21


21


Total Exchange

6,536.0

5,252.7

24%

5,729.3

14%

Total Exchange ADV

311.2

250.1

24%

272.8

14%

Equity Options

854.9

2,451.2

-65%

641.6

33%

Equity Options ADV

40.7

116.7

-65%

30.6

33%

Index Options*

29.2

84.2

nm

20.4

43%

Index Options ADV*

1.4

4.0

nm

1.0

43%

ETP Options

5,651.8

2,717.3

108%

5,067.3

12%

ETP Options ADV

269.1

129.4

108%

241.3

12%

*Russell 2000 Index options began trading on C2 on September 3, 2013. Prior period index options include SPXpmSM, which was moved to CBOE from C2 on February 17, 2013.

nm -- not meaningful

C2 Market Share:

C2's market share of total industry volume in January 2014 was 1.7 percent, a 0.3-percentage-point increase from January 2013 and a 0.1-percentage-point decrease from December 2013.

C2 Market Share Current Month


Jan-14

Jan-13

% Pt. Chg

Dec-13

% Pt. Chg

Total Exchange

1.7%

1.4%

0.3%

1.8%

-0.1%

Equity Options

0.4%

1.1%

-0.7%

0.4%

--

Index Options*

0.1%

0.2%

nm

0.1%

--

ETF Options

4.5%

2.5%

2.0%

4.6%

-0.1%

*Russell 2000 Index options began trading on C2 on September 3, 2013. Prior period index options include SPXpm, which was moved to CBOE from C2 on February 17, 2013.

nm -- not meaningful

CFE Trading Volume and Highlights

  • CBOE Futures Exchange and VIX futures both established monthly volume records in January.
  • January trading volume in VIX futures totaled a record 4.40 million contracts, a 52-percent increase from January 2013 and a 38-percent increase from December 2013. The previous monthly volume record for VIX futures was 4.21 million contracts traded in June 2013.
  • Average daily volume (ADV) in VIX futures during January was 209,611 contracts, VIX futures' second-busiest monthly ADV, trailing only the 210,674 contracts per day in June 2013.

CBOE Holdings Average Transaction Fee Per Contract

The company will report its average transaction fee per contract for the three months ended December 31, 2013, in conjunction with its quarterly earnings news release, which will be issued on Friday, February 7, 2014. This information also will be posted to the Investor Relations section of CBOE's web site under Financial Information, Supplemental Information.

About CBOE Holdings

CBOE Holdings, Inc. (NASDAQ: CBOE) is the holding company for Chicago Board Options Exchange, Incorporated (CBOE), CBOE Futures Exchange, LLC (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 http://www.cboe.com/, the go-to place for options and volatility trading resources.

CBOE®, Chicago Board Options Exchange®, CFE®, FLEX®, LEAPS®, CBOE Volatility Index® and VIX® are registered trademarks, and BuyWriteSM, BXMSM, CBOE Futures ExchangeSM, Execute SuccessSM, SPXSM, SPXpmSM, The Options Institute, and WeeklysSM 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, C2 and CFE. All other trademarks and service marks are the property of their respective owners.

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SOURCE CBOE Holdings, Inc.

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