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CBOE Holdings Reports June 2012 Trading Volume

CHICAGO, July 2, 2012 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) today reported that June 2012 trading volume for options on the Chicago Board Options Exchange (CBOE) and C2 Options Exchange (C2), combined, totaled 96.7 million contracts. June average daily volume (ADV) was 4.6 million contracts, a two percent increase from June 2011 ADV of 4.5 million contracts and a seven-percent decline from May 2012 ADV of 5.0 million contracts.

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CBOE Futures Exchange (CFE) and the exchange's flagship product, futures on the CBOE Volatility Index (the VIX Index), posted back-to-back monthly records in June 2012 and surpassed the two-million contract benchmark for the second straight month.

CBOE Trading Volume and Market Share

    --  CBOE trading volume - CBOE's June 2012 ADV was 4.41 million contracts,
        up two percent from 4.31 million contracts ADV in June 2011 and down
        seven percent from May 2012 ADV of 4.74 million contracts.
    --  CBOE index options - June 2012 index option ADV was 1.25 million
        contracts, down four percent from 1.30 million contracts ADV in June
        2011 and down seven percent from May 2012 ADV of 1.34 million contracts.
    --  CBOE ETF options - June 2012 ETF option ADV was 1.43 million contracts,
        up nine percent from 1.31 million contracts ADV in June 2011 and down
        less than one percent from May 2012 ADV of nearly 1.44 million
        contracts.
    --  CBOE equity options - June 2012 equity option ADV was 1.73 million
        contracts, up about two percent from 1.70 million contracts ADV in June
        2011 and down 12 percent from May 2012 ADV of 1.96 million contracts.
    --  The five most actively traded index and ETF options at CBOE during June
        were the S&P 500 Index (SPX), Standard & Poor's Depositary Receipts
        (SPY), CBOE Volatility Index (VIX), PowerShares QQQ Trust (QQQ) and
        iShares Trust Russell 2000 Index Fund (IWM).
    --  The five most actively traded equity options at CBOE during June were
        Apple (AAPL), Bank of America (BAC), JPMorgan Chase (JPM), Facebook (FB)
        and Arena Pharmaceuticals (ARNA).

                                   CBOE Trading Volume                                        Year-To-Date
                                   -------------------                                        ------------
    (trades in     Jun-12             Jun-11           % Chg      May-12           % pt. Chg     Jun-12           Jun-11           % Chg
    thousands)
    ---------
    Trading Days                21                  22                          22                            125              125
    ------------               ---                 ---                         ---                            ---              ---
    Total Exchange        92,510.8            94,714.6        -2%        104,274.4          -11%        568,207.6        567,396.0         0%
    --------------        --------            --------       ---         ---------          ---         ---------        ---------       ---
    Total Exchange
     ADV                   4,405.3             4,305.2         2%          4,739.7           -7%          4,545.7          4,539.2         0%
    --------------         -------             -------       ---           -------          ---           -------          -------       ---
    Equity Options        36,325.0            37,338.1        -3%         43,054.9          -16%        259,635.6        274,449.6        -5%
    --------------        --------            --------       ---          --------          ---         ---------        ---------       ---
    Equity Options         1,729.8             1,697.2         2%          1,957.0          -12%          2,077.1          2,195.6        -5%
    ADV
    ---
    Index Options         26,187.1            28,632.0        -9%         29,534.5          -11%        150,871.2        142,892.6         6%
    -------------         --------            --------       ---          --------          ---         ---------        ---------       ---
    Index Options          1,247.0             1,301.5        -4%          1,342.5           -7%          1,207.0          1,143.1         6%
    ADV
    ---
    ETF Options           29,998.8            28,744.6         4%         31,685.0           -5%        157,700.8        150,053.7         5%
    -----------           --------            --------       ---          --------          ---         ---------        ---------       ---
    ETF Options            1,428.5             1,306.6         9%          1,440.2           -1%          1,261.6          1,200.4         5%
    ADV
    ---

Expanded June 2012 volume information for CBOE index and ETF options is available at: www.cboe.com/data/monthlyvolume.aspx.

CBOE Market Share:

CBOE June market share was 28.4 percent, up three percentage points from June 2011 and up about one percentage point from May 2012. If the volume from dividend trades was excluded from industry data for June 2012, CBOE's total market share would be 29.0 percent.

Exclusion of dividend trades from total industry volume data presents a more relevant measure of the relative trends in the options business.

                               CBOE  Current Month                                             Year-To-Date
                               -------------------                                             ------------
                Jun 2012       Jun 2011           % pt. Chg      May 2012       % pt. Chg      Jun 2012       Jun 2011       % pt. Chg
                --------       --------           ---------      --------       ---------      --------       --------       ---------
    Total
     Exchange            28.4%          25.4%               3.0%          27.6%           0.8%          27.3%          25.6%           1.7%
    ---------            ----           ----                ---           ----            ---           ----           ----            ---
    Total
     Exchange
     (excl.
     dividend
     trades)             29.0%          26.1%               2.9%          28.5%           0.5%          28.5%          26.6%           1.9%
    ---------            ----           ----                ---           ----            ---           ----           ----            ---
    Equity
     Options             23.0%          19.9%               3.1%          21.3%           1.7%          22.0%          21.3%           0.7%
    --------             ----           ----                ---           ----            ---           ----           ----            ---
    Equity
     Option
     (excl.
     dividend
     trades)             23.7%          20.5%               3.2%          22.6%           1.1%          23.5%          22.6%           0.9%
    ---------            ----           ----                ---           ----            ---           ----           ----            ---
    Index
     Options             93.8%          94.3%              -0.5%          94.2%          -0.4%          94.3%          94.3%           0.0%
    --------             ----           ----               ----           ----           ----           ----           ----            ---
    Index
     Options
     (excl.
     dividend
     trades)             93.9%          94.5%              -0.6%          94.3%          -0.4%          94.5%          94.6%          -0.1%
    ---------            ----           ----               ----           ----           ----           ----           ----           ----
    ETF Options          21.4%          18.6%               2.8%          22.0%          -0.6%          21.3%          19.2%           2.1%
    -----------          ----           ----                ---           ----           ----           ----           ----            ---
    ETF Options
     (excl.
     dividend
     trades)             21.9%          19.0%               2.9%          22.0%          -0.1%          21.6%          19.5%           2.1%
    -----------          ----           ----                ---           ----           ----           ----           ----            ---

CBOE June 2012 Market Share by Product:

    --  Index options - CBOE's market share was 93.8 percent, down about one
        half of a percentage point from June 2011 and down less than one half of
        a percentage point from May 2012.
    --  Equity options - CBOE's market share was 23.0 percent, up three
        percentage points from June 2011 and up almost two percentage points
        from May 2012.
    --  ETF options - CBOE's market share was 21.4 percent, up almost three
        percentage points from June 2011 and down about one half of a percentage
        point from May 2012.

C2 Options Exchange Trading Volume and Market Share

C2 Trading Volume:

In June 2012, daily volume on C2 Options Exchange averaged 199,800 contracts, down five percent from June 2011 ADV of 210,900 contracts and down eleven percent from May 2012 ADV of 223,700 contracts.

June 2012 equity option average daily volume rose 22 percent over June 2011, while ETF options daily volume was down 19 percent from a year ago.

                                      C2 Trading Volume                                           Year-To-Date
                                      -----------------                                           ------------
    (trades in thousands) Jun-12                    Jun-11         %  Chg      May-12         % pt. Chg     Jun-12   Jun-11         %  Chg
    --------------------  ------                    ------         ------      ------         ---------     ------   ------         ------
    Trading Days                      21                        22                         22                           125     125
    ------------                     ---                       ---                        ---                           ---     ---
    Total Exchange               4,195.2                   4,639.7        -10%        4,920.8          -15%        27,101.6 22,120.4        23%
    --------------               -------                   -------        ---         -------          ---         -------- --------       ---
    Total Exchange ADV             199.8                     210.9         -5%          223.7          -11%           216.8    177.0        23%
    ------------------             -----                     -----        ---           -----          ---            -----    -----       ---
    Equity Options               1,436.3                   1,233.8         16%        1,827.0          -21%        10,682.0  8,965.6        19%
    --------------               -------                   -------        ---         -------          ---         --------  -------       ---
    Equity Options ADV              68.4                      56.1         22%           83.0          -18%            85.5     71.7        19%
    ------------------              ----                      ----        ---            ----          ---             ----     ----       ---
    Index Options                  139.4                       N/A        N/A           162.4          -14%           790.0      N/A       N/A
    -------------                  -----                       ---        ---           -----          ---            -----      ---       ---
    Index Options ADV                6.6                       N/A        N/A             7.4          -10%             6.3      N/A       N/A
    -----------------                ---                       ---        ---             ---          ---              ---      ---       ---
    ETF Options                  2,619.5                   3,405.9        -23%        2,931.5          -11%        15,629.7 13,154.8        19%
    -----------                  -------                   -------        ---         -------          ---         -------- --------       ---
    ETF Options ADV                124.7                     154.8        -19%          133.2           -6%           125.0    105.2        19%
    ---------------                -----                     -----        ---           -----          ---            -----    -----       ---

C2 Market Share:

In June 2012, C2's market share was 1.3 percent, up slightly from June 2011 and unchanged from May 2012.

                               C2  Current Month                                            Year-To-Date
                               -----------------                                            ------------
                Jun 2012      Jun 2011          % pt. Chg      May 2012      % pt. Chg      Jun 2012      Jun 2011      % pt. Chg
                --------      --------          ---------      --------      ---------      --------      --------      ---------
    Total
     Exchange            1.3%          1.2%               0.1%          1.3%           0.0%          1.3%          1.0%           0.3%
    ---------            ---           ---                ---           ---            ---           ---           ---            ---
    Total
     Exchange
     (excl.
     dividend
     trades)             1.3%          1.3%               0.0%          1.3%           0.0%          1.4%          1.0%           0.4%
    ---------            ---           ---                ---           ---            ---           ---           ---            ---
    Equity
     Options             0.9%          0.7%               0.2%          0.9%           0.0%          0.9%          0.7%           0.2%
    --------             ---           ---                ---           ---            ---           ---           ---            ---
    Equity
     Option
     (excl.
     dividend
     trades)             0.9%          0.7%               0.2%          1.0%          -0.1%          1.0%          0.7%           0.3%
    ---------            ---           ---                ---           ---           ----           ---           ---            ---
    Index
     Options             0.5%          N/A                N/A           0.6%          -0.1%          0.5%          N/A            N/A
    --------             ---           ---                ---           ---           ----           ---           ---            ---
    Index
     Options
     (excl.
     dividend
     trades)             0.5%          N/A                N/A           0.5%           0.0%          0.5%          N/A            N/A
    ---------            ---           ---                ---           ---            ---           ---           ---            ---
    ETF Options          1.9%          2.2%              -0.3%          2.0%          -0.1%          2.1%          1.7%           0.4%
    -----------          ---           ---               ----           ---           ----           ---           ---            ---
    ETF Options
     (excl.
     dividend
     trades)             1.9%          2.2%              -0.3%          2.0%          -0.1%          2.1%          1.7%           0.4%
    -----------          ---           ---               ----           ---           ----           ---           ---            ---

CBOE Futures Exchange Trading

    --  Futures on the CBOE Volatility Index (the VIX Index) volume totaled a
        record 2.15 million contracts in June, up 76 percent from 1.22 million
        contracts traded in June 2011 and up eight percent from 2.0 million
        contracts traded in May 2012, the previous high.

CBOE Holdings Average Transaction Fee Per Contract

The following represents the average transaction fee per contract based on a three-month rolling average, reported on a one-month lag. The average transaction fee per contract represents total transaction fees for CBOE, C2, and CBOE Futures Exchange recognized for the period divided by total contracts traded during the period. Average transaction fees 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:                                                         May           April        March        February
                                                                              2012         2012         2012            2012
    ---                                                                       ----         ----         ----            ----
    Equities                                                                $0.117       $0.112       $0.110          $0.128
    --------                                                                ------       ------       ------          ------
    Indexes                                                                  0.673        0.667        0.658           0.651
    -------                                                                  -----        -----        -----           -----
    Exchange Traded Funds                                                    0.176        0.172        0.171           0.188
    ---------------------                                                    -----        -----        -----           -----
       Total Options Average Transaction Fee Per Contract                    0.279        0.267        0.261           0.275
    ------------------------------                                           -----        -----        -----           -----
    Futures                                                                  1.650        1.655        1.697           1.610
    -------                                                                  -----        -----        -----           -----
       Total Average Transaction Fee Per Contract                           $0.304       $0.290       $0.280          $0.289
    ------------------------------                                          ------       ------       ------          ------

About CBOE Holdings, Inc.

CBOE Holdings, Inc. (NASDAQ: CBOE) is the holding company for Chicago Board Options Exchange (CBOE), C2 Options Exchange and other subsidiaries. CBOE, the largest U.S. options exchange and creator of listed options, continues to set the bar for options 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 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, named "Best of the Web" for options information and education. CBOE is regulated by the Securities and Exchange Commission (SEC), with all trades cleared by the OCC.

CBOE®, Chicago Board Options Exchange®, FLEX®, LEAPS®, CBOE Volatility Index® and VIX® are registered trademarks, and BuyWrite(SM), BXM(SM), SPX(SM) and The Options Institute are service marks of Chicago Board Options Exchange, Incorporated (CBOE). C2(SM), C2 Options Exchange, Incorporated(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.

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