2013 Trading Volume Reaches New All-Time High At CBOE Futures Exchange

Fourth Consecutive Record Year
Over 40 Million Contracts Traded
Several Milestones Achieved During 2013

The CBOE Futures Exchange, LLC (CFE^®) today reported that annual trading for total exchange-wide activity and for futures on the CBOE Volatility Index^® (VIX^®Index) reached new all-time highs in 2013, with several other trading records set during the year.

2013 Volume
For a fourth consecutive year, exchange-wide trading volume at CFE set a new annual record. The 40.2 million contracts traded in 2013 was an increase of 68 percent from the 23.9 million contracts traded in 2012. Average daily volume (ADV) at CFE also reached a new high for a fourth straight year in 2013. The 159,498 contracts per day was 67 percent above the ADV of 95,569 contracts in 2012.

Trading volume in VIX futures totaled 39.9 million contracts for the year, a fourth straight annual volume record, and surpassing the 23.8 million contracts traded in 2012 by 68 percent. Average daily volume in VIX futures was 158,508 contracts, also a fourth consecutive annual record, and up 67 percent from 2012.

CFE Monthly Volume Summary						Year-To-Date
	Dec 2013	Dec 2012	% Chg	Nov 2013	% Chg	Dec 2013	Dec 2012	% Chg
Trading Days	21	20		20		252	250
VIX Index Futures
Total	3,195,262	2,435,618	31%	2,522,828	27%	39,944,022	23,785,831	68%
ADV	152,155	121,781	25%	126,141	21%	158,508	95,143	67%
CFE Total Exchange
Total	3,201,242	2,446,471	31%	2,561,432	25%	40,193,447	23,892,203	68%
ADV	152,440	122,324	25%	128,072	19%	159,498	95,569	67%

December Trading
December exchange-wide trading volume at CFE totaled 3.2 million contracts, an increase of 31 percent over December 2012 and an increase of 25 percent over November. Monthly ADV during December was 152,440 contracts, an increase of 25 percent from a year ago and an increase of 19 percent from the previous month.

2013 Volume Records and Exchange Highlights

Exchange-Wide Volume Records
Monthly Volume	4,220,447 contracts	June 2013
Monthly ADV	211,022 contracts	June 2013
Single-Day Volume	452,139 contracts	April 15, 2013
Quarterly Volume	11,510,990 contracts	Second Quarter, 2013
VIX Futures Volume Records
Monthly Volume	4,213,488 contracts	June 2013
Monthly ADV	210,674 contracts	June 2013
Single-Day Volume	449,955 contracts	April 15, 2013
Quarterly Volume	11,482,647 contracts	Second Quarter, 2013
Exchange Highlights
The top ten highest volume trading months in CFE history all occurred during 2013.
Total exchange-wide open interest surpassed the 500,000 contract mark for the first time ever on January 16, 2013.
Total exchange-wide monthly volume surpassed four million contracts traded for the first time in April.
On June 24, the pricing method for CFE's S&P 500 Variance futures contract was revised to more closely align with OTC variance swaps.
On August 2, 2013 year-to-date volume in VIX futures surpassed the total volume for all of 2012.
CFE introduced extended trading hours for VIX futures on October 28 (45-minute afternoon session) and November 4 (5-hour early morning session).
CFE launched trading of futures on the CBOE Russell 2000 Volatility Index beginning November 18.