CBOE Press Breakfast at FIA Boca Raton, FL March 11, 2015

Transcription

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

2 Forward-Looking Statements This presentation may contain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 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. 2

3 Collaborate Create Connect 3

4 /1/14 4

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

6 Collaborate Growing roster of CBOE index providers 6

7 Collaborate CBOE is the home for index options 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 7

8 Collaborate CBOE entered into MSCI licensing agreement in December 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 8

9 Collaborate CBOE entered into LSEG licensing agreement in February 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 9

10 Create CBOE-MSCI products 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 10

11 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 11

12 Create CBOE-FTSE products 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 *Pending regulatory approval 12

13 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 13

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

15 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

16 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 16

17 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

18 Q&A

19 CBOE 400 South LaSalle Street Chicago, Illinois