CBOE GLOBAL MARKETS 
By CHICAGO, Jan. 2, 2014 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that 2013 marked its second-best year in total trading volume and average daily volume (ADV).
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CBOE Holdings consolidated 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 nearly 1.19 billion contracts. Average daily volume (ADV) in 2013 was 4.71 million contracts, an increase of four percent from 2012.
CBOE reported record ADV of 1.48 million contracts for its cash index options in 2013, an increase of 22 percent from a year earlier, led by record volume in CBOE's S&P 500(®) Index options (SPX(SM)) and CBOE Volatility Index(®) (VIX Index(®)) options. SPX ADV was 823,369 contracts, a 19-percent increase from 2012, and VIX options ADV was 567,460 contracts, a 29-percent increase.
CBOE Futures Exchange reported its fourth consecutive year of record trading in VIX futures in 2013 when VIX futures ADV was 159,498 contracts, up 67 percent from 2012.
CBOE Holdings Consolidated Trading Volume Year-To-Date
========================================= ============
(trades in thousands) Dec-13 Dec-12 % Chg Nov-13 % Chg Dec-13 Dec-12 % Chg
==================== ====== ====== ===== ====== ===== ====== ====== =====
Trading Days 21 20 20 252 250
------------ --- --- --- --- ---
Total Contracts
(options & futures) 94,805.6 78,594.1 21% 91,904.6 3% 1,187,642.6 1,134,316.7 5%
-------------------- ---
Total Options Contracts
(CBOE & C2) 91,604.4 76,147.6 20% 89,343.2 3% 1,147,449.2 1,110,424.5 3%
----------------------- ------ ------ --- -------- -------- ---
Total Futures Contracts
(CFE) 3,201.2 2,446.5 31% 2,561.4 25% 40,193.4 23,892.2 68%
Total ADV
(options & futures) 4,514.5 3,929.7 15% 4,595.3 -2% 4,712.9 4,537.3 4%
-------------------- ------- ------- --- ------- --- ------- ------- ---
Total Options ADV (CBOE
& C2) 4,362.1 3,807.4 15% 4,467.2 -2% 4,553.4 4,441.7 3%
-------
Total Futures ADV
(CFE) 152.4 122.3 25% 128.1 19% 159.5 95.6 67%
================= ===== ===== === ===== === ===== ==== ===
CBOE Trading Volume and Market Share
CBOE Volume:
-- CBOE's 2013 ADV was 4.25 million contracts, even with 2012 ADV.
-- December ADV was 4.09 million contracts, a 14-percent increase from
December 2012 and a two-percent decrease from November 2013.
CBOE Trading Volume Current Month Year-To-Date
================================= ============
(trades in thousands) Dec-13 Dec-12 % Chg Nov-13 % Chg Dec-13 Dec-12 % Chg
==================== ====== ====== ===== ====== ===== ====== ====== =====
Trading Days 21 20 20 252 250
------------ --- --- --- --- ---
Total Exchange 85,875.1 71,937.6 19% 83,669.8 3% 1,070,865.5 1,059,404.1 1%
-------------- ---
Total Exchange ADV 4,089.3 3,596.9 14% 4,183.5 -2% 4,249.5 4,237.6 0%
------------------
Equity Options 35,579.9 27,931.0 27% 38,089.9 -7% 419,858.5 473,708.5 -11%
-------------- ------ ------ --- ------ --- --------- --------- ---
Equity Options ADV 1,694.3 1,396.5 21% 1,904.5 -11% 1,666.1 1,894.8 -12%
------------------ ------- ------- --- ------- --- ------- ------- ---
Index Options 29,487.0 25,628.9 15% 25,911.5 14% 372,455.6 302,878.7 23%
------------- ------ ------ --- ------ --- --------- --------- ---
Index Options ADV 1,404.1 1,281.4 10% 1,295.6 8% 1,478.0 1,211.5 22%
----------------- ------- ------- --- ------- --- ------- ------- ---
ETP Options 20,808.2 18,377.8 13% 19,668.5 6% 278,551.4 282,816.9 -2%
----------- ------ ------ --- ------ --- --------- --------- ---
ETP Options ADV 990.9 918.9 8% 983.4 1% 1,105.4 1,131.3 -2%
=============== ===== ===== === ===== === ======= ======= ===
Expanded December 2013 and full-year volume information for CBOE index and ETP options is available at: www.cboe.com/data/monthlyvolume.aspx.
CBOE Market Share:
CBOE's December market share of total U.S. options industry volume was 26.8 percent, an increase of 3.8 percentage points from December 2012 and an increase of 0.2 of a percentage point from November 2013.
CBOE Market Share Current Month Year-To-Date
=============================== ============
Dec-13 Dec-12 % Pt. Chg Nov-13 % Pt. Chg Dec-13 Dec-12 % Pt. Chg
Total
Exchange 26.8% 23.0% 3.8% 26.6% 0.2% 26.0% 26.5% -0.5%
--------- ---- ---- --- ---- --- ---- ---- ----
Equity
Options 19.8% 16.8% 3.0% 19.9% -0.1% 18.5% 20.9% -2.4%
------- ---- ---- --- ---- ---- ---- ---- ----
Index
Options 97.6% 94.9% 2.7% 97.5% 0.1% 96.6% 94.1% 2.5%
-------- ---- ---- --- ---- --- ---- ---- ---
ETP
Options 18.9% 15.4% 3.5% 20.3% -1.4% 19.2% 20.0% -0.8%
======== ==== ==== === ==== ==== ==== ==== ====
C2 Trading Volume and Market Share
C2 Trading Volume Current Month Year-To-Date
=============================== ============
(trades in thousands) Dec-13 Dec-12 % Chg Nov-13 % Chg Dec-13 Dec-12 % Chg
==================== ====== ====== ===== ====== ===== ====== ====== =====
Trading Days 21 20 20 252 250
------------ --- --- --- --- ---
Total Exchange 5,729.3 4,210.0 36% 5,673.4 1% 76,583.8 51,020.4 50%
-------------- ---
Total Exchange ADV 272.8 210.5 30% 283.7 -4% 303.9 204.1 49%
------------------
Equity Options 641.6 1,815.1 -65% 994.2 -35% 14,627.6 20,594.5 -29%
-------------- ----- ----- --- ----- --- ------ ------ ---
Equity Options ADV 30.6 90.8 -66% 49.7 -39% 58.0 82.4 -30%
------------------ ---- ---- --- ---- --- ---- ---- ---
Index Options* 20.4 119.3 NM 18.4 11% 212.8 1,472.6 NM
------------- ---- ----- --- ---- --- ----- ------- ---
Index Options ADV* 1.0 6.0 NM 0.9 6% 0.8 5.9 NM
----------------- --- --- --- --- --- --- --- ---
ETP Options 5,067.3 2,275.7 123% 4,660.8 9% 61,743.4 28,953.3 113%
----------- ----- ----- --- ----- --- ------ ------ ---
ETP Options ADV 241.3 113.8 112% 233.0 4% 245.0 115.8 112%
=============== ===== ===== === ===== === ===== ===== ===
*Russell 2000 Index options began trading on C2 on September 3, 2013. Prior period and year-to-date index options include SPXpm(SM), which was moved to CBOE from C2 on February 17, 2013.
NM - not meaningful
C2 Volume:
-- 2013 was a record volume year for C2. ADV was 303,900 contracts, a
49-percent increase from 2012.
-- December ADV was 272,800 contracts - a 30-percent increase from December
2012 and a four-percent decrease from November 2013.
C2 Market Share:
C2 Market Share Current Month Year-To-Date
============================== ============
Dec-13 Dec-12 % Pt. Chg Nov-13 % Pt. Chg Dec-13 Dec-12 % Pt. Chg
Total
Exchange 1.8% 1.4% 0.4% 1.8% -- 1.9% 1.3% 0.6%
--------- --- --- --- --- --- --- --- ---
Equity
Options 0.4% 1.1% -0.7% 0.5% -0.1% 0.6% 0.9% -0.3%
------- --- --- ---- --- ---- --- --- ----
Index
Options 0.1% 0.4% NM 0.1% -- 0.1% 0.5% NM
-------- --- --- --- --- --- --- --- ---
ETP
Options 4.6% 1.9% 2.7% 4.8% -0.2% 4.3% 2.1% 2.2%
======== === === === === ==== === === ===
C2's December market share of total U.S. options industry volume was 1.8 percent, an increase of 0.4 of a percentage point from December 2012 and even with November 2013.
*Russell 2000 Index options began trading on C2 on September 3, 2013. Prior period and year-to-date index options include SPXpm, which was moved to CBOE from C2 on February 17, 2013.
NM - not meaningful
CBOE Futures Exchange Trading Volume
-- In 2013, VIX futures achieved new records in daily, monthly, quarterly
and annual volumes.
-- The top ten highest volume trading months in CFE history all occurred
during 2013.
-- December VIX ADV was 152,155 contracts, a 25-percent increase from
December 2012 and a 21-percent increase from November 2013.
CBOE Holdings Average Transaction Fee Per Contract
The following represents 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 CFE 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: Nov-13 Oct-13 Sep-13 Aug-13
--------
Equity
Options $0.076 $0.076 $0.077 $0.081
-------- ------ ------ ------ ------
Index
Options $0.666 $0.666 $0.669 $0.671
-------- ------
ETP
Options $0.126 $0.124 $0.123 $0.122
-------- ------ ------ ------ ------
Total
Options
Average
Revenue
Per
Contract $0.275 $0.278 $0.273 $0.278
--------- ------ ------ ------ ------
Futures $1.561 $1.548 $1.559 $1.533
------- ------ ------ ------ ------
Total
Average
Revenue
Per
Contract $0.315 $0.320 $0.315 $0.321
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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 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 BuyWrite(SM), BXM(SM), CBOE Futures Exchange(SM), Execute Success(SM), SPX(SM), SPXpm(SM), and The Options Institute are service marks of Chicago Board Options Exchange, Incorporated (CBOE). C2(SM) and C2 Options Exchange(SM) are service marks of C2 Options Exchange, Incorporated (C2). 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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