CBOE Holdings, Inc. (NASDAQ: CBOE) issued today the following statement regarding the announced McGraw-Hill and CME Group Inc. joint venture:
"We congratulate our partner, McGraw-Hill, and our VIX Network Partner, CME Group Inc. on today's announced joint venture. We believe the creation of S&P/Dow Jones indexes is a net positive to the growth of the index option business and for options customers," said William J. Brodsky, CBOE Holdings Chairman and Chief Executive Officer.
"Our long-term partnerships and licenses with both S&P and Dow Jones have enabled CBOE to develop a thriving U.S. index options market and to provide investors with valuable risk management tools. Our VIX methodology is a key part of that equation," Brodsky continued. "In working with McGraw-Hill and CME, we know that they share our philosophy and excitement for growing the index and volatility space. We think the synergies of this combination and the potential to grow our respective products are tremendous."