CBOE And C2 Plan To Launch Mini-Options On March 18 For AAPL, AMZN, GOOG, GLD And SPY

Tue Mar 5, 2013 1:30pm EST

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CHICAGO,  March 5, 2013  /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE)
announced today that  Chicago  Board Options Exchange, Incorporated (CBOE) and
C2 Options Exchange (C2) plan to launch trading in "mini-options" that are
one-tenth the size of standard options on five popular stocks and exchange
traded funds (ETFs). Mini-options on Apple (AAPL), Amazon (AMZN), Google (GOOG),
the SPDR Gold Trust ETF (GLD), and the SPDR S&P 500 ETF Trust (SPY) will begin
trading on  Monday, March 18.  

(Logo:  http://photos.prnewswire.com/prnh/20121022/MM97794LOGO-a)  

"Many retail customers hold less than 100 shares of these higher-priced stocks
in their portfolios," CBOE Chairman and CEO  William J. Brodsky  said. "We're
excited to begin offering mini-options, which will give investors the ability to
hedge their positions and trade options on these stocks more economically than
with standard-sized options."  

Mini-options contracts feature specifications identical to those of
standard-sized options contracts on the above securities, except:

* Mini-options contracts represent 10 shares of the underlying security versus
100 shares for standard-sized options contracts; and  
* Mini-options contracts trade under a different trading symbol than
standard-sized options contracts. Mini-options carry the number "7" at the end
of the security symbol.  For example, the Apple mini-options symbol is AAPL7.

In addition to standard monthly expiration dates, non-standard expiration dates
(i.e., Weeklys options series, Quarterlys option series and LEAPS) will be
eligible for mini-options trading. Plans also call for minimum price movements
to be the same in both standard-sized options and mini-options, pending
regulatory approval.

The following Designated Primary Market Makers (DPMs) have been appointed for
mini-options for CBOE (C2):

* AAPL --  Morgan Stanley & Co. LLC (C2: Wolverine Trading, LLC)  
* AMZN - Merrill Lynch Professional Clearing Corp. (C2: Timber Hill, LLC)  
* GOOG - Susquehanna Securities (C2: Timber Hill, LLC)  
* GLD -- Citadel Securities, LLC  
* SPY-- Wolverine Trading, LLC

C2 did not appoint DPMs for GLD and SPY mini-options. At C2, DPMs are appointed
only in equity classes that are part of the options Penny Pilot Program.

For more information on mini-options, see  www.cboe.com/mini, Regulatory
Circular RG13-037  www.cboe.com/aboutCBOE/legal/crclReg.aspx  and Regulatory
Circular C2-RG13-014 at  www.c2exchange.com/Legal/RegulatoryCirculars.aspx.

About CBOE Holdings
CBOE Holdings, Inc. (NASDAQ: CBOE) is the holding company for  Chicago  Board
Options Exchange (CBOE), the CBOE Futures Exchange (CFE) and other subsidiaries.
CBOE, the largest U.S. options exchange and creator of listed options, continues
to set the bar for options and volatility trading through product innovation,
trading technology and investor education. CBOE Holdings offers equity, index
and ETP options, including proprietary products, such as S&P 500 options (SPX),
the most active U.S. index option, and options and futures on the CBOE
Volatility Index (the VIX Index). Other products engineered by CBOE include
equity options, security index options, LEAPS options, FLEX options, and
benchmark products such as the CBOE S&P 500 BuyWrite Index (BXM). CBOE Holdings
is home to the world-renowned Options Institute and  www.cboe.com, the go-to
place for options and volatility trading resources. CBOE is regulated by the
Securities and Exchange Commission (SEC), with all trades cleared by the OCC.

­­­CBOE-OE

CBOE-2

CBOE®,  Chicago  Board Options Exchange®, Flexible Exchange®, FLEX®, LEAPS®,
CBOE Volatility Index®  and VIX®  are registered trademarks, and BuyWrite(SM),
BXM(SM), SPX(SM), and The Options Institute are service marks of  Chicago  Board
Options Exchange, Incorporated (CBOE).  Standard & Poor's®, S&P®  and S&P 500® 
are registered trademarks of Standard & Poor's Financial Services, LLC and have
been licensed for use by CBOE.  All other trademarks and service marks are the
property of their respective owners.

SOURCE  CBOE Holdings, Inc.


Media, Gail Osten, +1-312-786-7123, osten@cboe.com, or Gary Compton,
+1-312-786-7612, comptong@cboe.com, or Analyst Contact, Debbie Koopman,
+1-312-786-7136, koopman@cboe.com

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