CBOE Stock Exchange Reports On Trade Volumes At 2008

The CBOE Stock Exchange (CBSX) announced that more than three billion shares were traded at the Exchange during 2008, its first full year of trading. The Exchange, now 22 months old, had sustained growth in trading volume and the number

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The CBOE Stock Exchange (CBSX) announced that more than three billion shares were traded at the Exchange during 2008, its first full year of trading. The Exchange, now 22 months old, had sustained growth in trading volume and the number of trades executed and continued to expand the number of market participants and products listed.

The CBSX multi-asset trading model was designed to increase the efficiency of trading combined stock and options orders, while reducing execution costs for market participants. CBSX enables options traders to either cross or interact with multiple equity traders at substantially increased speed, thereby reducing transaction costs and increasing performance and profitability.

By any measure, 2008 was a successful year for CBSX, says David Harris, chief executive officer of the CBOE Stock Exchange. The increases across all performance gauges and market statistics indicate acceptance of our business model in a highly competitive environment for both order flow and technology offerings. The CBSX model is designed to execute equity hedging flow from the options community and to provide that community with reduced cost and latency in round trip trading. Equity traders also have the ability to access this untouched options hedging flow. CBSX provides this capability using traditional and unique order types, delivered electronically over one platform.

The launch of CBSX signaled our commitment to providing customers a choice in trading equities tied to options order flow, says William J. Brodsky, CBOE chairman and CEO. The confidence that market participants have placed in CBSX in just two years of trading, underlines the value of the model. The Exchanges flexible systems will continue to make CBSX a unique trading venue.

For summary of statistics, please visit www.cbsx.com.

D.C.

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