CBOE Holdings Reports April 2013 Trading Volume

VIX Futures Post Busiest Month Ever
C2 Establishes All-Time Monthly Records

CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that April trading volume for options contracts on Chicago Board Options Exchange^® (CBOE^®) and C2 Options Exchange (C2^SM) and futures contracts on CBOE Futures Exchange, LLC (CFE^®) totaled 102.70 million contracts. Average daily volume (ADV) in April was 4.67 million contracts, up four percent from 4.49 million contracts in March 2013 and up one percent from 4.63 million contracts in April 2012.

Also in April, futures on the CBOE Volatility Index^® (VIX^® Index), traded on CFE, posted their busiest month ever, and C2 set all-time monthly total volume, average daily volume and market share records.

CBOE Holdings Consolidated Trading Volume						Year-To-Date
(trades in thousands)	Apr-13	Apr-12	% Chg	Mar-13	% Chg	Apr-13	Apr-12	% Chg
Trading Days	22	20		20		82	82
Total Contracts (options & futures)	102,701.1	92,556.6	11%	89,811.7	14%	364,673.1	395,224.1	-8%
Total Options Contracts (CBOE & C2)	98,631.5	90,864.0	9%	86,582.8	14%	351,359.2	389,407.9	-10%
Total Futures Contracts (CFE)	4,069.6	1,692.6	140%	3,228.9	26%	13,313.9	5,816.2	129%

Total ADV (options & futures)	4,668.2	4,627.8	1%	4,490.5	4%	4,447.3	4,819.8	-8%
Total Options ADV (CBOE & C2)	4,483.2	4,543.2	-1%	4,329.1	4%	4,284.9	4,748.9	-10%
Total Futures ADV (CFE)	185.0	84.6	119%	161.4	15%	162.4	70.9	129%

CBOE Trading Volume and Market Share

CBOE Trading Volume:

CBOE ADV was 4.08 million contracts, down six percent from April 2012 ADV of 4.33 million contracts and up one percent from March 2013 ADV of 4.04 million contracts.
CBOE index options ADV was 1.43 million contracts, up 26 percent from April 2012 and down eight percent from March 2013.
SPXpm options, which moved from C2 to CBOE in mid-February 2013, established a new monthly volume record of 170,096 contracts during April, compared to 105,097 contracts traded in February. The previous SPXpm options monthly volume record was 165,378 contracts in March 2012.
CBOE ETP options ADV was just less than two million contracts, up ten percent from April 2012 and up 18 percent from March 2013.
CBOE equity options ADV was 1.45 million contracts, down 31 percent from April 2012 and down one percent from March 2013.
The five most actively traded index and ETP options at CBOE in April were S&P 500^® Index (SPX^SM) options, CBOE Volatility Index^® (VIX^® Index) options, Standard & Poor's Depositary Receipt (SPY) options, iShares Trust - Russell 2000 Index Fund (IWM) options and iPath S&P 500 VIX Short-Term Futures ETN (VXX) options.

CBOE Trading Volume Current Month						Year-To-Date
(trades in thousands)	Apr-13	Apr-12	% Chg	Mar-13	% Chg	Apr-13	Apr-12	% Chg
Trading Days	22	20		20		82	82
Total Exchange	89,844.1	86,654.2	4%	80,802.2	11%	326,539.8	371,422.3	-12%
Total Exchange ADV	4,083.8	4,332.7	-6%	4,040.1	1%	3,982.2	4,529.5	-12%
Equity Options	31,982.8	42,071.4	-24%	29,346.3	9%	123,348.1	180,255.6	-32%
Equity Options ADV	1,453.8	2,103.6	-31%	1,467.3	-1%	1,504.2	2,198.2	-32%
Index Options	31,476.7	22,731.8	38%	31,055.0	1%	121,386.6	95,149.6	28%
Index Options ADV	1,430.8	1,136.6	26%	1,552.8	-8%	1,480.3	1,160.4	28%
ETP Options	26,384.6	21,850.9	21%	20,400.9	29%	81,805.2	96,017.0	-15%
ETP Options ADV	1,199.3	1,092.5	10%	1,020.0	18%	997.6	1,170.9	-15%

Expanded full-year and April 2013 volume information for CBOE index and ETP options is available at: www.cboe.com/data/monthlyvolume.aspx.

CBOE Market Share:
CBOE market share of total U.S. options industry volume was 24.2 percent in April 2013, down 1.7 percentage points from March 2013 and down 2.9 percentage points from April 2012. If the volume from dividend trades was excluded from industry data for April, the Exchange's total market share would be 24.5 percent. Exclusion of dividend trades from total industry volume data presents a more relevant measure of the relative trends in the options business.

CBOE Market Share Current Month						Year-To-Date
	Apr-13	Apr-12	% Pt. Chg	Mar-13	% Pt. Chg	Apr-13	Apr-12	% Pt. Chg
Total Exchange	24.2%	27.1%	-2.9%	25.9%	-1.7%	23.9%	26.9%	-3.0%
Total Exchange (excl. dividend trades)	24.5%	28.0%	-3.5%	26.7%	-2.2%	24.5%	28.4%	-3.9%
Equity Options	16.5%	22.3%	-5.8%	17.6%	-1.1%	16.1%	21.9%	-5.8%
Equity Options (excl. dividend trades)	16.8%	24.1%	-7.3%	18.2%	-1.4%	16.7%	24.2%	-7.5%
Index Options	94.3%	94.0%	0.3%	95.5%	-1.2%	94.8%	94.5%	0.3%
Index Options (excl. dividend trades)	94.4%	93.7%	0.7%	95.6%	-1.2%	94.9%	94.4%	0.5%
ETP Options	18.4%	20.4%	-2.0%	18.1%	0.3%	17.4%	21.0%	-3.6%
ETP Options (excl. dividend trades)	18.4%	20.4%	-2.0%	18.7%	-0.3%	17.5%	21.4%	-3.9%

C2 Trading Volume and Market Share

C2 Trading Volume:
In April, C2 set all-time monthly records for volume and ADV. Volume totaled 8.79 million contracts (ADV -- 399,400 contracts). April's volume and ADV records surpassed the previous records established in August 2011 when 7.15 million contracts changed hands (ADV — 310,800 contracts). ETP option ADV rose 194 percent and 47 percent from April 2012 and March 2013, respectively.

C2 Trading Volume Current Month						Year-To-Date
(trades in thousands)	Apr-13	Apr-12	% Chg	Mar-13	% Chg	Apr-13	Apr-12	% Chg
Trading Days	22	20		20		82	82
Total Exchange	8,787.4	4,209.8	109%	5,780.7	52%	24,819.4	17,985.6	38%
Total Exchange ADV	399.4	210.5	90%	289.0	38%	302.7	219.3	38%
Equity Options	1,232.0	1,743.5	-29%	1,106.0	11%	6,151.9	7,418.7	-17%
Equity Options ADV	56.0	87.2	-36%	55.3	1%	75.0	90.5	-17%
Index Options*	--	128.0	--	--	--	136.3	488.2	--
Index Options ADV*	--	6.4	--	--	--	1.7	6.0	--
ETP Options	7,555.3	2,338.3	223%	4,674.7	62%	18,531.2	10,078.7	84%
ETP Options ADV	343.4	116.9	194%	233.7	47%	226.0	122.9	84%

*SPXpm moved from C2 to CBOE on February 19, 2013.

C2 Market Share:
C2 market share of total industry volume in April 2013 was 2.4 percent — the exchange's highest monthly market share ever — up 1.1 percentage points from April 2012 and up 0.5 of a percentage point from March 2013. ETP option market share in April was 5.3 percent, up 3.3 percentage points from April 2012 and up 1.1 percentage points from March 2013.

C2 Market Share Current Month						Year-To-Date
	Apr-13	Apr-12	% Pt. Chg	Mar-13	% Pt. Chg	Apr-13	Apr-12	% Pt. Chg
Total Exchange	2.4%	1.3%	1.1%	1.9%	0.5%	1.8%	1.3%	0.5%
Total Exchange (excl. dividend trades)	2.4%	0.9%	1.5%	1.9%	0.5%	1.9%	1.4%	0.5%
Equity Options	0.6%	0.9%	-0.3%	0.7%	-0.1%	0.8%	0.9%	-0.1%
Equity Options (excl. dividend trades)	0.6%	1.0%	-0.4%	0.7%	-0.1%	0.8%	1.0%	-0.2%
Index Options*	--	0.6%	--	--	--	0.1%	0.5%	--
Index Options* (excl. dividend trades)	--	0.6%	--	--	--	0.1%	0.5%	--
ETP Options	5.3%	2.0%	3.3%	4.2%	1.1%	3.9%	2.2%	1.7%
ETP Options (excl. dividend trades)	5.3%	2.2%	3.1%	4.3%	1.0%	4.0%	2.2%	1.8%

*SPXpm moved from C2 to CBOE on February 19, 2013.

CBOE Futures Exchange Trading Volume

April ranked as the busiest month ever for VIX futures contract total volume and ADV.
VIX futures volume totaled a record 4,056,760 contracts, surpassing the previous monthly volume record of 3,220,977 contracts traded in March 2013. April was the first month in which VIX futures volume exceeded four million contracts and a fourth consecutive record volume month.
VIX futures ADV was a record 184,398 contracts, surpassing the previous record ADV of 161,176 contracts in February 2013. ADV was up 119 percent over April 2012 and 14 percent over March 2013.
CBOE Gold ETF Volatility Index security futures volume hit a record 6,120 contracts during the month versus the previous record of 1,619 contracts in August 2012.

CBOE Holdings Average Revenue Per Contract
The company will report its average transaction fee per contract for the three months ended March 31, 2013, in conjunction with its quarterly earnings news release, which will be issued on Friday, May 3, 2013. This information also will be posted to the Investor Relations section of CBOE's web site under Financial Information, Supplemental Information.