Boca Raton, FL
March 11, 2015
Edward Tilly, Chief Executive Officer
John Deters, Chief Strategy Officer
Bill Speth, Vice President, Research
1

This presentation may contain forward-looking statements, within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements are those statements that reflect our expectations, assumptions or projections about the future and involve a number of risks and uncertainties. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause actual results to differ materially from that expressed or implied by the forward-looking statements, including: the loss of our right to exclusively list and trade certain index options and futures products; increasing price competition in our industry; compliance with legal and regulatory obligations, including our obligations under the Consent Order; decreases in trading volumes or a shift in the mix of products traded on our exchanges; legislative or regulatory changes; increasing competition by foreign and domestic entities; our dependence on third party service providers; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to accommodate trading volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; our ability to protect our systems and communication networks from security risks, including cyber-attacks; the accuracy of our estimates and expectations; economic, political and market conditions; our ability to maintain access fee revenues; our ability to meet our compliance obligations, including managing potential conflicts between our regulatory responsibilities and our for-profit status; our ability to attract and retain skilled management and other personnel; our ability to manage our growth effectively; and the ability of our compliance and risk management methods to effectively monitor and manage our risks.
More detailed information about factors that may affect our performance may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2014 and other filings made from time to time with the SEC.
CBOE HOLDINGS 2

CBOE HOLDINGS
3

2014
2
CBOE HOLDINGS
1/1/14
4

2015
*Pending Hong Kong regulatory approval
CBOE HOLDINGS
*
3/9/15
5

Collaborate
CBOE HOLDINGS 6

Collaborate
the
CBOE created the first index option with Standard and Poor’s in 1983
CBOE’s S&P 500 Index (SPX) options remain the most-actively traded index option in the U.S.
Record SPX options trading volume in 2014, the 31 st year for the product
Continually seeking ways to further develop and grow index options trading
CBOE HOLDINGS 7

Collaborate
Combines CBOE’s product development and options expertise with MSCI’s global benchmark indexes
Makes CBOE exclusive U.S. exchange for trading MSCI Index options
MSCI Indexes cover global equity and emerging markets
CBOE HOLDINGS 8

Collaborate
Combines CBOE’s product development and options expertise with LSEG’s leading index franchises
Makes CBOE exclusive U.S. provider for cash-settled options on LSEG-owned FTSE and Russell Indexes
FTSE Indexes cover European and Asian international equities
Russell Indexes cover benchmarks on U.S.-based stocks
CBOE HOLDINGS 9

Create
First CBOE-MSCI options* planned to launch in 2015:
MSCI EAFE Index (Europe, Australasia, Far East)
MSCI Emerging Markets Index
Additional CBOE-MSCI options* products planned to launch in 2015:
MSCI ACWI Index
MSCI USA Index
MSCI World Index
MSCI ACWI ex-USA Index
Opportunity to create new volatility indexes
*Pending regulatory approval
CBOE HOLDINGS 10

Create
CBOE-Russell products
Includes options on the Russell 2000 Index (RUT ) # , the premier measure of the performance of U.S. small-cap stocks
Other CBOE-Russell products* to include options on:
•
Russell 1000 Index
•
Russell 1000 Value Index
•
Russell 1000 Growth Index
CBOE Russell 2000 Volatility Index (RVX) options and futures already trading
Opportunity to create new volatility indexes
# Currently trading semi-exclusively at CBOE, will be exclusively traded at CBOE on April 1, 2015
*Pending regulatory approval
CBOE HOLDINGS 11

Create
Includes options on the FTSE 100 Index, a closely followed index of blue-chip companies traded on the London Stock Exchange
Other CBOE-FTSE products* to include options on:
FTSE GEIS
FTSE EPRA/NAREIT
FTSE China 50
Opportunity to create new volatility indexes
CBOE HOLDINGS
*Pending regulatory approval
12

Connect
CBOE’s expanding suite of index products will allow market participants to trade and hedge:
Global Volatility
Global Stock Market
Broad U.S. Stock Market
U.S. Small-Cap Market
European and Asian International Equities
World’s Emerging Markets
CBOE HOLDINGS 13

Connect
CBOE connects uniquely with customers, domestically and abroad, through:
Investor education
Customer engagement
Broadening access to our marketplace
CBOE HOLDINGS 14

Connect
Connecting with customers through industry-leading educational forums
CBOE Risk Management Conference (RMC)
Premier financial industry conference for institutional users of equity and volatility derivatives
United States: 31 st year
Europe: 4 th year
Asia: 1 st year
CBOE Options Institute
Teaching investors around the world through an extensive curriculum of classroom and online programs
30 th anniversary in 2015
CBOE HOLDINGS 15

Connect
Leveraging CBOE’s customer reach across highly trafficked communications outlets
CBOE.com
CBOE TV
The Options Hub, CBOE’s social media platform
CBOE’s Mobile App
CBOE HOLDINGS 16

Connect
Connecting with customers through extended trading hours (ETH)
Near 24-hour trading in VIX futures began last June
Currently, about 9% of VIX futures trading takes place during non-U.S. trading hours
ETH for VIX options began Monday, March 2; ETH for SPX options began
Monday, March 9
New session runs from 2:00 a.m. to 8:15 a.m. CT, Monday through Friday
ETH initiatives pave the way to trade additional index products in non-U.S. hours in the future
17 CBOE HOLDINGS

Q&A

CBOE
400 South LaSalle Street
Chicago, Illinois 60605 www.cboe.com
@CBOE