CBOE Press Breakfast at FIABoca Raton, FL

March 11, 2015

Edward Tilly, Chief Executive Officer

John Deters, Chief Strategy Officer

Bill Speth, Vice President, Research

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Forward-Looking Statements

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.

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Collaborate Create Connect

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2014

1/1/14

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2015

3/9/15

*

*Pending Hong Kong regulatory approval

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Collaborate

Growing roster of CBOE index providers

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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 31st year for

the product

Continually seeking ways to further develop and grow index

options trading

Collaborate

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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

Collaborate

CBOE entered into MSCI licensing agreement in December

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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

Collaborate

CBOE entered into LSEG licensing agreement in February

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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

Create

*Pending regulatory approval

CBOE-MSCI products

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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

Create

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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

Create

CBOE-FTSE products

*Pending regulatory approval

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Global Volatility

Global Stock Market

Broad U.S. Stock Market

U.S. Small-Cap Market

European and Asian International Equities

World’s Emerging Markets

Connect

CBOE’s expanding suite of index products will allow market participants to trade and hedge:

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CBOE connects uniquely with customers, domestically and abroad, through:

Connect

Investor education

Customer engagement

Broadening access to our marketplace

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Connecting with customers through industry-leading

educational forums

Connect

CBOE Risk Management Conference (RMC)

Premier financial industry conference for

institutional users of equity and volatility derivatives

United States: 31st year

Europe: 4th year

Asia: 1st year

CBOE Options Institute

Teaching investors around the world through an

extensive curriculum of classroom and online

programs

30th anniversary in 2015

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Connect

CBOE.com

CBOE TV

The Options Hub, CBOE’s

social media platform

CBOE’s Mobile App

Leveraging CBOE’s customer reach across highly trafficked

communications outlets

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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

Connecting with customers through extended trading hours (ETH)

Connect

Q&A

CBOE

400 South LaSalle Street

Chicago, Illinois 60605

www.cboe.com

@CBOE